Transactions

Belgium-based Azelis SA, one of world’s leading specialty chemicals and food ingredients distributors acquired the base oil distributor, Whitechem - a subsidiary of Ak-taş.

Ventura Partners acted as the exclusive financial advisor to the shareholders of WhiteChem on the transaction.

Established in Switzerland in 2010, WhiteChem supplies and distributes numerous petrochemicals. The company is the authorized distributor of premium base oils of Chevron, primarily in Turkey and neighbouring countries.

Founded in Belgium in 2001, Azelis distributes specialty chemicals and food ingredients in 56 countries. With its 3,000 employees and 45,000 customers, Azelis generates annual revenues of about €2.5 billion. Azelis had previously entered the Turkish market through its acquisitions of Tara Kimya, Ekin Kimya and Tunckaya in Turkey.