The investment will support plans for further international growth, particularly in the U.S. and Asia. The senior management, including Italmatch CEO Sergio Iorio, will retain a 12% stake in the company.
Founded through a MBO in 1997 and headquartered in Genoa, Italmatch Chemicals has five production facilities in Europe. Two are based in Italy (Spoleto and Arese), with the remaining three situated in Germany (Frankfurt), the UK (Newport) and Spain (Zuera, near Zaragoza). The company, which also has production facilities and joint-ventures in Asia (China and Japan), provides oil additives, detergents, water treatments, oil & gas, plastics and phosphorus derivatives.
Italmatch has sales forecast of around €250 million for 2014, (of which 90% generated outside of Italy) more than double compared to 2012, with an EBITDA in excess of €30m.
Italmatch has 400 employees.