Italmatch Buys Sudamfos do Brasil
Italian performance additives producer Italmatch Chemicals has boosted its presence in Latin America with the purchase of Sudamfos do Brasil. Located in Sao Paulo, Sudamfos do Brasil is a leading Brazilian distribution company specializing in phosphonates, phosphates and other specialty chemicals. The transaction’s financial details were not disclosed.
Italmatch has been building up its presence overseas in recent years, including in the Americas. Sergio Iorio, CEO of Italmatch Chemicals, said: “This transaction represents a further milestone in the development and internationalization strategy undertaken by Italmatch Chemicals, following the recent acquisition of Compass Chemical International in North America.”
Compass Chemicals, a manufacturer of performance additives for lubricants, water treatment and oil & plastics, was acquired in June 2016 from US private equity firm One Rock Capital Partners, adding plants in Smyrna, Georgia and Huntsville, Texas. The deal, which gave Italmatch a significant presence in the North American market, came six months after the purchase of Solvay’s desalination and phosphates/phosphonic acid-based water additives business.
In a separate move in July 2017, Italmatch acquired French start-up company Magpie Polymers. Magpie, spun off from Paris-based university Ecole Polytechnique in 2011, has developed and patented a selective filtration technology to recover precious metals such as palladium, platinum, silver and gold.
The Genoa-headquartered firm said the investment further consolidates its focus on industrial water and process treatment, expanding and refining its existing production range as well as reaching new high-added-value market targets.
Italmatch is majority owned by French private investment group Ardian, formerly AXA Private Equity.
