Azelis

What Azelis does

Azelis is a Belgian-headquartered, Euronext Brussels-listed (ticker AZE) specialty chemicals and food ingredients distributor operating as an innovation service provider. The company connects more than 2,800 principals (manufacturers) with 65,000+ customers across 64 countries, organized around two divisions — Life Sciences (Animal Nutrition, Flavours & Fragrances, Nutraceuticals, Food & Nutrition, Home Care & Industrial Cleaning, Personal Care, Pharmaceuticals & Healthcare, Agricultural & Environmental Solutions) and Industrial Chemicals (CASE, Electronics, Essential Chemicals, Fine Chemicals, Lubricants & Metalworking Fluids, Oilfield, Advanced Materials & Additives, Textiles/Leather/Paper). Revenue is generated through transaction-fee distribution, with FY2025 revenue of EUR 4.1 billion (Life Sciences EUR 2.6bn; Industrial Chemicals EUR 1.5bn).

The company's core differentiator is its network of 70+ application laboratories, each dedicated to a single market segment, which provide formulation development, product testing, REACH and regulatory compliance support, and sampling services. Azelis supplements this physical infrastructure with a digital Customer Portal (Explore.Azelis.com) providing 24/7 access to formulations, technical documentation, ordering, and sample requests. The technology stack is operational rather than AI-native — no proprietary AI/ML capabilities, APIs, or developer platforms are disclosed.

The go-to-market combines enterprise field sales teams, regional managing directors, application-laboratory-led technical selling, and self-serve portal access for the long tail. Pricing is quote-based and not publicly disclosed. Growth is driven by a sustained programmatic M&A engine (four acquisitions completed in 2025 alone, adding EUR 110M+ in combined prior-year revenue) and by principal mandate wins across geographies. The company holds leadership-tier ESG credentials (CDP A-, EcoVadis Gold, MSCI AA, Sustainalytics Low Risk, SBTi-approved targets) and operates under its Impact 2030 sustainability programme. EQT VIII completed full exit in February 2026 after a seven-year hold, and the company refinanced EUR 400M of senior notes at 4.125% due 2031 in the same month. Leverage stood at 3.3x with EUR 442M free cash flow and 106% cash conversion for FY2025.

Name

Azelis

Legal name

Azelis Corporate Services NV/SA

Website

https://azelis.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Azelis is a Belgian-listed global specialty chemicals and food ingredients distributor connecting 2,800+ principals with 65,000+ customers across 64 countries via 70+ application laboratories, generating EUR 4.1bn in FY2025 revenue across Life Sciences and Industrial Chemicals verticals.

Ownership category

akta.pro rank

Product category

Specialty Chemicals and Food Ingredients Distribution

NAICS

Chemical and Allied Products Merchant Wholesalers (4246), Other Chemical and Allied Products Merchant Wholesalers (42469), Other Chemical Product and Preparation Manufacturing (3259)

SIC

Wholesale-Chemicals & Allied Products (5160), Medicinal Chemicals & Botanical Products (2833), Industrial Organic Chemicals (2860)

akta.pro primary industry

Food Ingredients, Additives & Industrial Food Wholesale Distribution (CRAOAAAL)

akta.pro secondary industries

Food-Grade Chemicals & Processing Aids Trading/Wholesale (AFAIAKAJ), Compounding Ingredient & API Distributors (Pharma Supply) (HLAIAJAO), Ingredients, Spices & Culinary Supplies Distribution (CRAOABAK)

Keywords

• Specialty chemicals distribution
• Food ingredients distribution
• Formulation development services
• Industrial chemicals supply
• Life sciences distribution

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Specialty Chemicals Distribution: Azelis distributes specialty chemicals across multiple industrial segments including CASE (coatings, adhesives, sealants, elastomers), electronics, essential chemicals, fine chemicals, lubricants, oilfield, and advanced materials. The company operates as an intermediary between global principals and local manufacturers.
2. Food Ingredients Distribution: Distribution of food ingredients and nutraceuticals to food and nutrition manufacturers, leveraging an extensive product range and customer relationships built over decades.
3. Life Sciences Distribution: Distribution of ingredients and solutions across pharmaceutical, healthcare, personal care, flavors, fragrances, animal nutrition, and agricultural sectors.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Azelis distributes specialty chemicals and food ingredients sourced from 2,800+ global principals to 65,000+ industrial customers across 64 countries, organized into Life Sciences and Industrial Chemicals divisions covering 15 market segments. The company complements distribution with 70+ application laboratories providing custom formulation, product testing, and regulatory compliance support, and operates the Explore.Azelis.com digital customer portal for 24/7 ordering and technical documentation access.

Product overview

Azelis is a global specialty chemicals and food ingredients distributor operating as an innovation service provider. The company distributes products across 15 markets organized into two divisions: Life Sciences (Animal Nutrition, Flavours & Fragrances, Nutraceuticals, Food & Nutrition, Home Care & Industrial Cleaning, Personal Care, Pharmaceuticals & Healthcare, Agricultural & Environmental Solutions) and Industrial Chemicals (CASE, Electronics, Essential Chemicals, Fine Chemicals, Lubricants & Metalworking Fluids, Oilfield, Other Applications, Advanced Materials & Additives, Textiles, Leather & Paper). Azelis operates as a platform combining product distribution with over 70 application laboratories offering formulation development, testing, and regulatory compliance services. The company also maintains a digital Customer Portal (Explore.Azelis.com) enabling 24/7 ordering, sample requests, and product documentation access. Recent acquisitions include ACEF (Italy), Solchem Nature (Spain), S. Amit Group (India), Distona (Switzerland), CPS Chemicals (South Africa), and Hortimex (Poland), expanding geographic footprint and market capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Life Sciences: Market segment including Animal Nutrition, Flavours & Fragrances, Nutraceuticals, Food & Nutrition, Home Care & Industrial Cleaning, Personal Care, Pharmaceuticals & Healthcare, and Agricultural & Environmental Solutions
• Industrial Chemicals
• Impact 2030
• Azelis Customer Portal

Products and services

• Specialty Chemicals Distribution Distribution of specialty chemicals across 15 markets including CASE (Coatings, Adhesives, Sealants, Elastomers), Electronics, Essential Chemicals, Fine Chemicals, Lubricants & Metalworking Fluids, Oilfield, Advanced Materials & Additives, and Textiles, Leather & Paper, serving industrial manufacturers from 2,800+ global principals.
• Food Ingredients Distribution Distribution of food ingredients and nutrition products to food and beverage manufacturers across the Food & Nutrition, Nutraceuticals, Flavours & Fragrances, and Animal Nutrition segments.
• Life Sciences Distribution Distribution of specialty ingredients across Animal Nutrition, Flavours & Fragrances, Nutraceuticals, Food & Nutrition, Home Care & Industrial Cleaning, Personal Care, Pharmaceuticals & Healthcare, and Agricultural & Environmental Solutions markets.
• Application Laboratory Services Over 70 application laboratories worldwide, each dedicated to a single market segment, developing custom formulations, conducting product testing, and providing regulatory compliance support for industrial customers.
• Azelis Customer Portal (Explore.Azelis.com) Digital platform providing 24/7 access to trends, formulations, product documentation, sample ordering, quote requests, and reordering for registered Azelis customers.
• International Supply Chain Services Global logistics and supply chain management services enabling international distribution of specialty chemicals and food ingredients across 64 countries.
• Sampling and Evaluation Services Technical sampling and product evaluation services enabling customers to test and assess specialty chemical and food ingredient products before purchase.
• REACH Compliance Management Regulatory compliance services helping customers navigate REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) requirements in Europe.
• Portfolio Sustainability Assessment Assessment service segmenting Azelis's product portfolio on sustainability criteria, supporting customers requiring reformulations to meet sustainability standards.

Quantifiable outcome

• Revenue of EUR 4.1bn in 2025 across 64 countries
• +3 more outcomes

Named customers1 record

Segments16 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Chemetall (BASF)coreChannel Partner/ Reseller/ Distributor · 18 June 2026Azelis and Chemetall (surface treatment global business unit of BASF) expanded their distribution partnership across North America, covering the United States, Canada, and Mexico. Azelis distributes Chemetall's surface treatment solutions for general industrial applications. The partnership provides customers with 24/7 access to technical documentation, ordering, and sample requests through Azelis's digital platforms.
• Lactalis Ingredients PharmacoreChannel Partner/ Reseller/ Distributor · 2 June 2026Azelis entered a new distribution partnership with Lactalis for the Pharmaceuticals & Healthcare market in India. Azelis will distribute the Lactalpha pharmaceutical lactose range across India, strengthening its portfolio for oral solid dosage formulations. The Lactalpha range includes milled and sieved low-nitrite lactose suitable for wet and dry granulation, compliant with Ph. Eur., USP-NF, and JP standards.
• ArxadacoreChannel Partner/ Reseller/ Distributor · 27 May 2026Azelis expanded its partnership with Arxada to distribute their portfolio of industrial biocides and coating additives in France. The agreement extends the existing collaboration into industrial market segments, covering CASE (Coatings, Adhesives, Sealants and Elastomers) and Chemicals. The partnership builds on successful collaboration across DACH, Benelux, UK and Ireland, Greece, and Ukraine.
• Chemetall CanadacoreChannel Partner/ Reseller/ Distributor · 1 April 2026Azelis expanded its distribution partnership with Chemetall to cover surface treatment technologies for general industrial applications across Canada, effective April 1, 2026. The collaboration leverages Azelis's digital platforms to provide customers with 24/7 access to product documentation, safety information, ordering, and sample requests.
• Chemetall Southeast AsiacoreChannel Partner/ Reseller/ Distributor · 30 September 2025Azelis and Chemetall extended their distribution partnership to include Thailand and the Philippines, along with Vietnam, for surface treatment solutions across Southeast Asia. Azelis will distribute Chemetall's solutions and supply aerospace technologies in the Philippines, while Chemetall plans to open a new application laboratory in Ho Chi Minh City.
• NATARAminorStrategic or Co-development Partner · 20 January 2025Vigon International, an Azelis company, partnered with NATARA to offer customers high-quality sustainable flavor and fragrance ingredients. This partnership focuses on sustainable ingredients for the flavors and fragrances market.
• Ashapura AromascoreChannel Partner/ Reseller/ Distributor · 26 June 2022Azelis acquired a majority stake in Ashapura Aromas, an Indian flavors and fragrances distributor, to expand its platform in Asia Pacific. The acquisition aimed to strengthen Azelis's global F&F network and regional offerings.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Brenntag: Brenntag is the world's largest chemicals distributor and the closest direct competitor to Azelis, operating a similar specialty/life sciences and industrial chemicals distribution model across global markets with value-added services.
• IMCD: IMCD is a leading global specialty chemicals and food ingredients distributor with a similar high-touch, application-focused model. It competes head-to-head with Azelis in Life Sciences and Industrial Chemicals segments across Europe, the Americas, and Asia-Pacific.
• Univar Solutions: Univar Solutions is a major North American specialty chemicals and ingredients distributor with overlapping portfolios in CASE, food ingredients, and personal care — directly comparable to Azelis's Industrial Chemicals and Life Sciences segments.
• Barentz: Barentz is a European-headquartered specialty ingredients distributor focused on food, nutrition, and personal care. It is a direct peer in Azelis's Life Sciences segments and competes for principal mandates and customer accounts in overlapping regions.
• HELM AG: HELM is a privately held Hamburg-based chemicals and crop protection distributor with global reach, comparable to Azelis in industrial chemicals, fertilizers, and life sciences distribution models.
• Biesterfeld: Biesterfeld is a European specialty chemicals distributor with focused portfolios in industrial chemicals, personal care, and food — directly comparable to Azelis's mid-market specialty distribution activities.
• ICC Chemical: ICC Chemical is a privately held global specialty chemicals distributor, comparable to Azelis in industrial and specialty chemical distribution, particularly in emerging markets.
• TER Group: TER Group is a privately held European specialty chemicals distributor with strong positions in food, personal care, and CASE, comparable to Azelis's specialty life sciences and industrial chemicals business.
• Manuchar: Manuchar is a privately held global chemicals distribution and trading company with strong emerging-market presence, comparable to Azelis's Africa and Asia-Pacific distribution footprint.

Regional players

• DKSH Holding: DKSH is a market expansion services company with significant specialty chemicals and food ingredients distribution in Asia-Pacific — comparable to Azelis's APAC business built through Vigon, Ashapura, and S. Amit acquisitions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/azelisgroup
• Facebookfacebook.com/azelisgroup
• LinkedInlinkedin.com/company/azelis

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries12 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A19 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Azelis