Apax Partners wins Real Deals “Deal of the Year” Award for Azelis
Apax Partners is pleased to announce it has won the “Deal of the Year” award in Benelux and France for Azelis at the Real Deals Private Equity Awards 2019. The awards, the oldest of their kind in the private equity sector, recognise excellence across the industry.
Azelis is a leading distributor of speciality chemicals and food ingredients to more than 43,000 customers in over 40 countries.
The Apax VIII Fund (“Apax VIII” or “the Fund”) acquired Azelis in 2015, recognising the company’s strong position to consolidate a highly-fragmented industry and create a global industry leader. Under the Fund’s ownership, and together with management, Azelis successfully executed on its targeted growth strategy through focusing the business on product development and innovation, as well as developing its M&A platform. The company completed nine acquisitions to broaden its geographic reach and product offering. The most significant was the 2015 acquisition of Koda Distribution Group, whose North American presence was complementary to Azelis’ European and Asian reach. This transformational acquisition facilitated the expansion of Azelis into a truly global player with the ability to serve its key suppliers and customers at a global, regional and local level, with an expanded suite of services. The result of these initiatives saw Azelis more than double revenue and triple EBITDA under Apax VIII’s ownership.
Apax VIII sold Azelis in November 2018.
In 2012, Apax Global Alpha’s predecessor vehicle made a commitment of c.€342m to Apax VIII.
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About Apax Global Alpha Limited
AGA is a Guernsey registered closed-ended collective investment scheme incorporated as a non-cellular company that listed on the London Stock Exchange on 15 June 2015. It is regulated by the Guernsey Financial Services Commission.
AGA’s objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value.
The investment policy of the Company is to make Private Equity investments in Apax Funds, and Derived Investments which are investments in equities and debt derived from the insights gained via Apax Partners’ Private Equity activities. The Company’s portfolio is expected to be allocated in approximately equal proportions between Private Equity and Derived Investments, although the investment mix will fluctuate over time due to market conditions, investment opportunities, cash flow requirements, the dividend policy and other factors. Further information regarding the Company and its publications are available on the Company’s website at www.apaxglobalalpha.com.
About Apax Partners LLP
Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.€40 billion. Funds advised by Apax Partners invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long_term equity financing to build and strengthen world_class companies. For further information about Apax Partners, please visit www.apax.com. Apax Partners is authorised and regulated by the Financial Conduct Authority in the UK.