Algol Chemicals acquires Indian distributor
Algol Chemicals has today completed the acquisition of Dynamic Orbits Advisory Private Limited (Dynamic Orbits), a specialty chemicals distributor based in Delhi, India. Dynamic Orbits is focusing in the Polymers, Coatings and Life Sciences segments. Furthermore, it offers sourcing and regulatory services for REACH compliance. Dynamic Orbits has its offices and warehouses in Delhi and Mumbai.
“This is an unique opportunity to enter the fast-growing Indian chemicals distribution market. Dynamic Orbits has a proven track record of excellent service, a highly professional and dedicated team and strong business ethics”, says Juha Jokinen, Managing Director of Algol Chemicals. “The acquisition of Dynamic Orbits is the second acquisition made by Algol Chemicals within the past 12 months. We plan to grow our chemicals distribution business also in future.”
“Dynamic Orbits is excited with this new association. Algol is a respected name in the European chemical distribution market. We already have a strong platform in a high-growth geography, and we believe this could be a turning point in our growth strategy”, says BL Bajaj, founder of Dynamic Orbits.
“Expanding to India is a historical milestone for us, but we still see it as a natural part of our overall growth ambition. At the same time, we continue to focus on strengthening and broadening our activities in our existing markets. Mr. BL Bajaj together with Dynamic Orbit’s personnel has spent many years in building up a highly successful business. We are grateful to him for entrusting Algol with the task of continuing that work”, says Alexander Bargum, Algol Group CEO and chairman of Algol Chemicals.
Dynamic Orbits now forms as a wholly-owned subsidiary of the Algol Chemicals group, and the relations with customers and suppliers are expected to continue as before. No personnel changes are planned as a result of the transaction.