Velox, the Hamburg-based distributor of raw material specialities, acquires the composites business of the Belgian Azelis Group. At the time of acquisition this Azelis business area comprises some 50 employees in 12 European countries and reports turnover of around € 50 million. Velox is one of the leading European distributors of raw material specialities for the plastics, rubber and paints & inks industries. The composites business is a logical complement to Velox’ current product portfolio and furthermore, provides the group with market entry into new countries, in particular the Scandinavian markets of Norway, Finland and Denmark.
The acquisition also complements Velox’ existing business in other countries such as France, Italy, Poland and Czech Republic and significantly strengthens the sales teams already active there.
The acquisition of Azelis’ composites business is an important strategic step for Velox on the path to achieving the ambitious growth targets that the privately managed group has set for itself over the next few years. Its European presence is now almost seamless and with this major expansion of its product range, the new business area enables the company to strengthen its market position clearly.
Velox is also acquiring numerous distribution contracts with globally renowned composites materials manufacturers. “We very much look forward to working and growing together with our new providers, and would like to thank them for the trust they have placed in us”, says François Minec, General Manager at Velox.
Max Schlenzig, one of the two company founders, adds: “It has always been our topmost priority to build a long-term, personal and trust-based cooperation with our employees as well as with our providers. We warmly welcome our new partners.
