Сould Azelis valued at about $6 billion in IPO?


Date: 25.06.2021

EQT AB is weighing an initial public offering of Azelis, a distributor of specialty chemicals and food ingredients, according to people familiar with the matter.

Azelis could be valued at about 5 billion euros ($6 billion) in any IPO, the people said. Goldman Sachs Group Inc. and JPMorgan Chase & Co. are also working on the listing, the people said. Deliberations are ongoing and decisions on value and timing of an IPO may change depending on market conditions and investor appetite, according to the people.

Representatives for Azelis, EQT, Goldman Sachs and JPMorgan declined to comment, while a spokesperson for Lazard didn’t provide comment.

Based in Antwerp, Belgium, Azelis distributes specialty chemicals used in everything from animal nutrition to industrial cleaning. EQT acquired Azelis in 2018 from Apax Partners for an undisclosed amount. Canada’s PSP Investments was a co-investor in the deal.

Based on: Bloomberg

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