Italmatch Chemicals, a chemical group specialising in the production and marketing of performance additives, has acquired Solvay’s Ionquest 290 and Octyl Phosphonic Acid product range.
They are active in the production and marketing of phosphorus-based process additives for the mining, metalworking fluids, corrosion inhibition and pigmentation industries.
The acquisition involves the Ionquest 290 and OPA-Rhodafac ASI product ranges, their respective patents, the know-how and the client portfolio of Solvay, a global chemical and advanced materials company based in Belgium.
The transaction falls into Italmatch Chemical’s growth strategy and follows the recent acquisition of Compass Chemical International, a North American independent chemical company specialising in the production and marketing of phosphonates and additives for water treatment and for the oil and gas market.
The acquisition strengthens Italmatch’s position in the industrial water and mining industries as well as in the MWF additives sector and it is the second acquisition involving Solvay’s business in these sectors.
The transaction will have positive effects in terms of investments (resources and plants) for Italmatch’s factory in Arese, where both acquired product lines will be manufactured in the near future.
“Thanks to this acquisition, we have expanded our production range in two sectors, industrial water and mining process treatment and metal working fluids, and enlarged our applicative product portfolio in corrosion inhibition, where we have largely invested in the previous years, thus becoming an international reference point,” says Sergio Iorio, CEO of Italmatch Chemicals. “Our objective is to keep growing organically and through strategic mergers and acquisitions, consolidating our positions in sectors where our many speciality chemicals are applied.”
Giovannelli Associati, with a team led by partner Fabrizio Scaparro, acted as legal counsel to Italmatch Chemicals.
Founded in 1998, Italmatch Chemicals generates EUR340 million in revenues and operates through six manufacturing plants in Europe (Italy, Spain, Germany and UK), four in Asia Pacific (China and Japan), one in North America (USA) and sales/distribution subsidiaries in Belgium, China, Japan, India, Poland, Singapore and the US. It employs over 500 workers.
Ardian, the largest European independent private investment company, acquired the majority of Italmatch Chemicals together with the management in July 2014 and is committed to supporting the company’s growth.
