PE-backed Italmatch Chemicals buys Eco Inhibitors

Italmatch Chemicals, a portfolio company of Bain Capital Private Equity, has acquired Eco Inhibitors, a Norwegian developer of chemical solutions. No financial terms were disclosed.

PRESS RELEASE

Genoa – 2nd of April 2019 – Italmatch Chemicals, a leading global specialty chemical group focused on the production and marketing of performance additives for water & process treatment, oil & gas, industrial lubricants and plastics, today announces that has acquired Eco Inhibitors, a technology startup company based in Norway that has developed chemical solutions to produce a new generation of eco-friendly hydrate inhibitors for Oil&Gas applications.

The investment in such a highly innovative technologies allows Italmatch Chemicals to further consolidate its focus on R&D and Sustainability, thus expanding and refining the current production range, as well as reaching new high added value market targets as well. With Eco Inhibitors technologies, Italmatch Chemicals will manufacture and commercialize, through its business unit Advanced Water Solutions established global sales & marketing network for Oil&Gas applications, three classes of Low-Dosage Hydrate Inhibitors (LDHIs) that allow to optimize flow assurance strategies for Oil&Gas deep water productions.

Sergio Iorio, CEO of Italmatch Chemicals Group, stated: “In our main areas of activity, our focus on innovation is driving the development of a large and long-term pipeline thanks to internal and external contributions which lead to the discovery of new technologies for the creation of new classes of chemical products. With Eco Inhibitors knowhow, we are proud to present to the market products with high environmental compatibility, in particular a class of inhibitors derived from recovered salmon waste that represents a perfect example of circular economy. The first game-changing green Anti-Agglomerant is the cutting edge technology that we are going to industrialize.”
Maurizio Turci, General Manager Corporate & CFO of Italmatch Chemicals Group said: “The transaction falls into Italmatch Chemicals Group’s growth strategy and global geo-coverage. From an industrial point of view, this acquisition may have a positive impact on medium/ long-term sustainability for the results of the Advanced Water Solutions Business Unit. ”

About Italmatch Group: Founded in 1997, Italmatch Chemicals, is a leading innovative chemical group, specialized in performance additives for water treatment, oil & gas, lubricants and plastics, and boasts a wide product range able to fulfil the requirements of the most demanding applications, including personal care.

The group generates approximately 600 million Euros in pro forma sales revenue and operates through seven manufacturing plants in Europe (Italy, Spain, Germany and UK), five in Asia Pacific (China, Japan and India), five in North America (USA) and sales/distribution subsidiaries in Brazil, Belgium, China, Japan, India, Poland, Singapore and the USA. It employs over 900 workers.
Bain Capital Private Equity, a leading global private investment firm, recently acquired the majority of Italmatch Chemicals together with the management in October 2018.