Italmatch Chemicals to buy Solvay unit

Italmatch Chemicals Group, a portfolio company of Ardian, has agreed to buy Solvay’s desalination and phosphonates and phosphonic acid-based water additives business. Financial terms weren’t announced. The deal is expected to close by the end of January.

PRESS RELEASE

ITALMATCH CHEMICALS GROUP enters into an agreement for the acquisition of Solvay’s desalination and phosphonates and phosphonic acid-based water additives business.
The transaction is consistent with Italmatch Chemicals Group’s growth strategy and strengthens its position as a leading global supplier of water management additives, traded under Dequesttm brand name.
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, for the acquisition of 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.
This 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, completed in December 2014.
“The signed agreement proves our commitment in pursuing a strong expansion strategy through not only internal growth, but also strategic acquisitions,” stated Sergio Iorio, chief executive officer of Italmatch Chemicals Group.
“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” concluded Mr Iorio.
The transaction is expected to close by the end of January 2016.
Italmatch Chemicals is a leading innovative chemicals group, specialising in performance additives for lubricants, water & oil treatment, and plastics, and boasts a wide range of specialty chemicals able to fulfil the requirements of the most demanding applications, including personal care.
The group generates 280 million euros 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 over 450 employees.
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, and is committed to support the company’s growth.
For further information, please visit http://www.italmatch.it/