Italmatch acquires Solvay’s water additives business
Italmatch Chemicals Group, a global leading chemicals group specialising in the manufacturing and marketing of performance additives for lubricants, water & oil treatment, and plastics, entered into an agreement with Solvay, an international chemical and advanced materials company based in Brussels, to acquire Solvay’s desalination and phosphonates and phosphonic acid-based water additives business.
In particular, the agreement covers the acquisition of all products, trademarks, patents and client portfolio from the division of the Belgian chemicals group, which boasts a 30-year experience in phosphonate-based technology, as well as other chemistries.
The 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, which was completed in December 2014.
Ardian, the largest European independent private investment company, acquired the majority of Italmatch Chemicals together with the management from Mandarin Capital Partners in July 2014.
“The signed agreement proves our commitment in pursuing a strong expansion strategy through not only internal growth, but also strategic acquisitions,” said Sergio Iorio, chief executive officer of Italmatch Chemicals Group.
The group, which is headquartered in Genoa, Italy, generates EUR 280 million (USD 304 million) in revenue and operates 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 more than 450 employees.
“Thanks to this agreement, we will be able to expand our water management additives product range and enter into new market segments, such as the Middle Eastern thermal desalination markets, exploiting Solvay’s long-standing experience and know-how in the field, combining and leveraging upon Italmatch expertise in reverse osmosis plants,” he said.
The transaction is expected to close by the end of January 2016.
