Italmatch Chemicals closes financing package to fund new acquisitions, refinance old debt
Italmatch Chemicals, a leader in specialty chemicals based in Genoa, Italy, has 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.
“With this transaction, Italmatch Chemicals looks to the future with new and further expansion efforts,” says Sergio Iorio, managing director of Italmatch Chemicals. “Our goal is to continue developing both on external and internal lines, consolidating our positioning globally.”
Among the specialty chemical areas being developed by Italmatch Chemicals are water treatment and lubricants, as well as consolidation of the company’s presence in the Americas and Asia.”The financial resources collected can be dedicated to the group’s on-going and organic growth,” says Maurizio Turci, chief financial officer of Italmatch Chemicals, “and strengthens our presence in key foreign markets for the development of our business. ”
“The financial resources collected can be dedicated to the group’s on-going and organic growth,” says Maurizio Turci, chief financial officer of Italmatch Chemicals, “and strengthens our presence in key foreign markets for the development of our business. ”
Among the banks involved in the financing are BNP Paribas (senior arranger and global coordinator), Crédit Agricole CIB, Mediobanca and UniCredit (bookrunners), Interbanca and Société Générale (arrangers).
Founded in 1997, Italmatch Chemicals is an innovative international chemical group specialising in the production of additives for lubricating oils, water treatment, oil and gas, and plastic.
The company operates six production plants in Europe (Italy, Spain, Germany and the United Kingdom), four in the Asia-Pacific region (Japan and China), two in North America (United States) and sales/distribution in Belgium, China, Japan, India, Poland, Singapore and the United States.
Ardian, a leading independent private investment company in Europe, acquired the majority ownership of Italmatch Chemicals, together with the company’s management, in July 2014.
Italmatch reached EUR340 million (USD382 million) in revenues in 2016, and hopes to reach EUR500 million (USD563 million) in revenues with these new acquisitions.
