Italmatch Chemicals acquires Compass Chemical
Italmatch Chemicals, based in Genoa, Italy, a leading global chemicals group specializing in the manufacturing and marketing of performance additives for lubricants, water and process treatment, and oil and plastics, has acquired 100% of Compass Chemical International, LLC, a leading North American company involved in the production and marketing of organophosphonates, polymers and other specialty additives /services for water treatment and oil and gas applications. The seller was One Rock Capital Partners LLC. The financial terms were not disclosed.
Founded in 1999, Compass Chemical International, LLC has a plant in Smyrna, Ga., and a blending and warehouse facility located in Huntsville, Texas, dedicated mainly to serving the oil and gas industry.
The acquisition, completed through its subsidiary Italmatch USA Corporation, will enable Italmatch to operate in the Americas markets through its own manufacturing facility which will produce the leading global Dequest product line, while continuing to produce Compass’ Mayoquest brand of products.
This transaction is consistent with Italmatch Chemicals Group’s growth strategy to further strengthen the company’s position as a leading global supplier of specialty water management additives and associated services. It follows the acquisitions of GRS Chemical Technologies in December 2014, a centre of excellence specializing in the production of Low/High MW polymers and additives for heavy fuel oils, and more recently of Solvay’s desalination and phosphonates/phosphonic acid-based water additives business.
“The acquisition of Compass Chemical International strengthens our presence in the Americas markets in a strategic market segment, where we plan to keep investing in order to consolidate our position among the leading global players,” said Sergio Iorio, CEO of Italmatch.
Iorio said that the acquisition will also enable Italmatch to expand its product range for the water treatment markets, as well as increase its presence in the oil and gas industries in North America.
“This will be possible due to the presence of Compass in Texas, benefiting from the reputation of Compass Chemical International with its excellent track record, its strong customer loyalty, and its exceptional ability to develop new products for a wide range of applications.”
Italmatch is owned by Ardian, the largest European independent private investment company. Italmatch generates EUR 340 million (USD 386 million) in revenues and operates through six manufacturing plants in Europe (Italy, Spain, Germany and UK) and four in Asia Pacific (China and Japan), and has sales/distribution subsidiaries in Belgium, Poland, Japan, Singapore, India, China and the USA.