Italian chimical company Italmatch Chemicals Group entered into an agreement for the acquisition of Solvay’s desalination and phosphonates and phosphonic acid-based water additives business (download here the press release).
More in detail, the Italian group, a global leading chemicals group specialising in the manufacturing and marketing of performance additives for lubricants, water & oil treatment, and plastics, will buy all products, trademarks, patents and client portfolio from the division of the Belgian chemicals group. The deal is expected to be closed by the end of January and the deal value has not been disclosed.
This transaction is consistent with Italmatch Chemicals Group’s growth strategy, to further strengthen the company’s position as a leading global supplier of water management additives. It comes one year after the takeover of Naples-based GRS Chemical Technologies, a centre of excellence for low / high molecular weight polymers and fuel additives, completed in December 2014 (see here a previous post by BeBeez).
Italmatch is controlled by Ardian paneuropean private equity firm which bought its stake from ItalianChinese private equity firm Mandarin Capital Partners in June 2014 (see here a previous article by BeBeez), the management too owning a minority stake in the company.
Italmatch’s ceo Sergio Iorio said that : “The signed agreement proves our commitment in pursuing a strong expansion strategy through not only internal growth, but also strategic acquisitions”.
The company was founded in 1998 as a spin off from chemical company Saffa. The deal had been a management buyout financed by Investindustrial, together with local investment veichle Iniziativa Piemonte. Investindustrial sold then the control of the group to Argos Soditic and Iniziativa Piemonte in 2000. In 2004, Investindustrial re-invested in Italmach buying the control of the group from the other two funds and it finally sold it to Mandarin and the Italian Malacalza family in December 2010.
Italmatch Chemicals is now a leading innovative chemicals group operating through six manufacturing plants in Europe (Italy, Spain, Germany and UK) and four in Asia Pacific (China and Japan), and sales/distribution subsidiaries in Belgium, Poland, Japan, Singapore India, China and the Usa.
The company has a global presence and over 450 employees and generated 280 million euros in revenues in 2015 after 250 millions in 2014, when it reached 35 millions in ebitda (see here a previous article by BeBeez).