Italmatch Chemicals, an Italian leading global chemicals group that specializes in the manufacture and marketing of performance additives for lubricants, water treatment and oil & plastics, controlled by Ardian private equity firm, announced it has been issued a new financing package to support new investments and refinance the existing debt (see here the press release).
Senior arranger and global coordinator for the deal was BnpParibas, while Crédit Agricole, Mediobanca and UniCredit were bookrunners and Interbanca and Société Générale were arrangers.
Italmatch Chemicals was supported by Studio Gattai, Minoli, Agostinelli & Partners, dallo Studio Giovannelli & Associati law firm as for legal matters and by Studio CBA as for fiscal issues. The banks were instead advised by Linklaters.
Thanks to this deal Italmatch Chemicals will keep on following its growth plan which consists both in acquisitions and in strenghtening its producing lines. More in detail, the group will invest in enlarging its water treatment and lubricants business lines and in a stronger presence on the US and Asian markets.
Last September Italmatch bought from Solvay group the Ionquest 290 and Octyl Phosphonic Acid product range business specialised in the production & marketing of phosphorus-based process additives for the mining, metalworking fluids, corrosion inhibition and pigmentation industries (see here the press release). From Solvay the group also had bought the desalination and phosphonates/phosphonic acid-based water additives business in January 2016 (see here a previous post by BeBeez). In June 2016 Italmatch finally bought 100% of the capital of Compass Chemical International, the largest independent manufacturer of organophosphonates in North America and provides products for water treatment, oil & gas and various other applications (see here a previous post by BeBeez).
Led by ceo Sergio Iorio and cfo Maurizio Turci, Italmatch operates through 6 producing plants in Europe (Italy, Spain, Germany and UK), 4 in Asia Pacific (Janpan and China), 2 in North America (Usa) and sale and distribution branches in Belgium, China, japan, India, Poland, Singapore and Usa, with about 500 employees.
Italmatch reacdhed 305 million euros in revenues in 2016, with a 49.5 million euros ebitda and a 105 million euros net financial debt, after having closed FY 2015 with 263 million euros in revenues, a 36 million euros ebitda and a net financial debt of 99 millions (see here an analysis by Leanus).
BeBeez was told that thanks to new financing the group will be able to finalize three acquisitions actually under way, of which one in Europe, a big one in China and another big one in Usa. After those acquisitions Italmatch Chemicals might be able to reach 500 million euros in revenues.