STAMFORD, CT - Azelis Group (Azelis), Antwerp, Belgium, has signed a binding agreement to acquire U.S.-based KODA Distribution Group (KDG), significantly enhancing its position as a leading global specialty chemicals distributor. The transaction remains subject to regulatory clearances and is expected to be finalized by the end of 2015.
KDG will become known as Azelis Americas, led by Frank Bergonzi, CEO and President of KDG, who will assume the role as CEO and President of Azelis Americas and will become a member of the Azelis Board of Directors. Azelis Americas will continue to operate in the United States and Canada, using its existing business model and go-to-market strategy. It will maintain its regional brands and specialty chemicals sales to customers via industry verticals and through dedicated experts.
Bergonzi commented, “Being part of the Azelis Group will provide a strong platform for increased growth and widespread benefits of being part of a global organization with a regional focus. This agreement will allow us to be closer to our principals and engage with them on a global level, helping to facilitate new opportunities for our future development. It was of prime importance to find a forward-thinking, dynamic partner that would enhance our reputation and commitment to providing unparalleled customer service via technical expertise, application laboratories and extensive market knowledge. The Azelis approach to the specialty chemicals market aligns extremely well with the KDG model. This partnership allows our management, staff, and approach to customers and suppliers to remain unchanged.”