Redox Ltd (ASX:RDX, or ‘Redox’ or ‘the Company’), a leading global distributor of chemicals, ingredients and raw materials is pleased to announce that it has agreed to acquire the business of Auschem (N.S.W.) Pty Ltd (‘Auschem’), a specialist in solvent distribution and specialty chemical solutions..
This acquisition expands Redox’s presence in Australia, strengthens key supplier relationships, and enhances the company’s product portfolio, offering greater value to clients. It also positions Redox to meet the needs of a growing customer base and accelerate growth in key market segments.
Founded in 1998, Auschem is an Australian chemical distributor with a strategic portfolio of solvents. Auschem sells across a wide range of industries including Surface Coatings, Lubricants, Mining and Bitumen. Operating from a facility in Western Sydney, Auschem are equipped to handle bulk product storage, create custom blends and repackage products to meet bespoke customer requirements. Sales revenue in 2023 was approximately A$30m.
Charlie Ciantar, Managing Director of Auschem, says:
“Auschem and Redox have enjoyed a longstanding relationship so it made perfect sense for the next stage of growth to be under the Redox banner. My sons Jason, Adam and the larger Auschem team are eager to begin this new chapter under Redox leadership, leveraging the company’s greater scale and resources.
To our valued customers and suppliers thank you for your support over the years, I am confident that Redox will take excellent care of your needs.”
CEO & MD of Redox, Raimond Coneliano, added:
“We are thrilled to welcome the Auschem team to Redox. Their impressive track record and expertise provide a strong foundation for future success. Solvents represent a significant growth opportunity for Redox, and this acquisition will enable us to enhance our capabilities through leasing the Auschem facility in Wetherill Park.
We would also like to extend our gratitude to Richard Xin and his team at Viva Energy Australia, a key supplier, for their support throughout this process. We are excited about the bright future ahead.”
Transaction details and transition arrangements
A Sale & Purchase Agreement was executed by the parties on the 11th of October 2024, with completion of the transaction expected on the 11th of November 2024.
Until completion customers and suppliers of Auschem should continue arrangements as normal.
On completion Auschem supplier debts as at completion will be paid by Redox. Auschem customer debts as at completion will be collected by Redox and forwarded to Auschem to ensure an orderly transition.
Speak to your Auschem or Redox representative for more information.