Italmatch Acquires the Majority of Brazil’s Alcolina
Italian specialty additives manufacturer Italmatch Chemicals agreed to purchase the majority of shares of Alcolina, a Brazilian chemicals company specialized in water treatment for bioethanol, sugar production and industrial applications. Financial details of the transaction were not disclosed.
Alcolina has two manufacturing sites in Cravinhos and Rio Lago, a workforce of 80 people and reported a turnover of €35 million in 2023.
“With this acquisition, Italmatch Chemicals is strengthening its presence in the Latin American market and confirming and reinforcing its overseas growth and development strategy. Italmatch has been active in Brazil since 2017, with the creation of the local subsidiary Italmatch Do Brazil, followed by the key acquisition of Sudamfos do Brazil,” commented Sergio Iorio, founder & CEO of Italmatch. He added: “We consider the Latin American market, that today represents ~5% of our sales, as a market with great potential. Through the acquisition of Alcolina we strengthen our water portfolio becoming leader in industrial processes additives for “niche”, but growing, end markets, like sugar and bioethanol.
Italmatch said that through its global presence and sales organization, it will help Alcolina expand in international markets from the Far East and India to EMEA.
“Alcolina is not only a business & synergies opportunity, but also brings value to our sustainability strategy: the company has indeed adopted a strategy of environmental responsibility and awareness that perfectly reflects Italmatch Chemicals’ ESG journey to reduce its footprint and support the green transition, also thanks to the support to bioethanol technology,” said Maurizio Turci, group general manager corporate of Italmatch.
Rogerio Barros, general manager of Alcolina, added: “We are proud to become part of the Italmatch – Bain Capital group. We see tremendous value and synergies in joining forces with Italmatch, thanks to Italmatch leading technology support in the water markets, to grow in Latin America, our domestic market, as well as strengthening Alcolina position on the global markets, grabbing opportunities especially in development countries, with interest in developing the bioethanol markets, thanks to Italmatch global presence and strong innovation pipeline.”
