EQT has sold its remaining stake in Azelis Group for approximately €190 million, completing its exit from the specialty chemicals distributor six years after acquiring the company. The sale involved around 24 million shares, representing 10 percent of Azelis's share capital.

Azelis, headquartered in Antwerp, Belgium, serves over 65,000 customers through its network of application laboratories and technical staff who help develop and improve formulations. The company provides access to products from more than 2,800 specialty raw material producers. Under EQT's ownership since November 2018, Azelis achieved significant topline and EBITA growth through organic expansion, strategic M&A, and margin improvements.

The sale marks the end of EQT's investment in the company, which went public in September 2021. The €190 million exit price reflects the value EQT has created through its ownership period, during which the company expanded its market position in the specialty chemicals and food ingredients distribution sector.