ItalMatch Chemicals acquires Magpie Polymers
ItalMatch Chemicals, a global specialty chemical group, with leadership in the production and marketing of performance additives for lubricants, industrial water & process treatment, oil & gas, and plastics, has acquired the French company Magpie Polymers, a start-up that has developed an advanced and patented technology for selective filtration to recover precious metals. This latest-generation technology captures metals, such as palladium, platinum, silver and gold, that would otherwise be lost.
Based in Genoa, Italy, ItalMatch Chemicals last month closed a new financing package to fund future acquisitions, including three in Europe, China, and the U.S.A., and refinance the company’s existing debt.
Last year, Italmatch Chemicals acquired Solvay’s desalination and phosphonates and phosphonic acid-based water additives business and 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.
This latest investment in such a highly innovative technology allows ItalMatch Chemicals to further consolidate its focus on industrial water & process treatment, thus expanding and refining the current production range, as well as reaching new high added value market targets as well.
“This transaction permits us to embrace open innovation,” says Sergio Iorio, CEO of ItalMatch Chemicals, “and to continue our growth via both internal and external guidelines, through quality, research, development, technology and performance, but also through new and important acquisitions. Magpie is an exciting challenge that we want to win together with the current management.”
“After a development phase supported by FLM, a venture capital investment fund managed by Emertec Gestion, I am proud to enter the growth phase of our project with ItalMatch Chemicals, a world-renowned company,“ says Steven van Zutphen, CEO of Magpie Polymers. “Selectivity is the key to our technology, and it is with the same selectivity we have chosen to join forces with a group that could, strategically and synergistically, develop our business through a strong innovation- driven approach and a global sales footprint.”
Founded in 1997, ItalMatch Chemicals generates EUR340 million (USD388 million) in revenues and operates through six manufacturing plants in Europe (Italy, Spain, Germany and UK), four in Asia-Pacific (China and Japan), two in North America (U.S.A.) and sales/distribution subsidiaries in Belgium, China, Japan, India, Poland, Singapore and the U.S.A. It employs more than 500 workers.
Ardian, the largest European independent private investment company, acquired the majority of ItalMatch Chemicals, together with the management, in July 2014.