Italmatch Buys Water Science Technologies
Italian specialty chemicals group Italmatch Chemicals has acquired Water Science Technologies (WST), a US provider of blending services and chemical solutions, boosting its leadership in the North American oil & gas and industrial water treatment industries.
Financial terms of the deal, the second so far this year for the Genoa-based company, were not disclosed.
Sergio Iorio, founder and CEO of Italmatch Chemicals, said WST has multiple opportunities that strategically fall into the development growth path of Italmatch Advanced Water Solutions. He added that following the acquisition of BWA Water Additives in February 2019, this latest transaction allows additional industrial, commercial and technological synergies.
Headquartered in Birmingham, Alabama, WST has annual sales of around $75 million and nearly 40 employees. The company operates out of four locations across the US – Birmingham, Alabama; Miles City, Montana; Seguin, Texas; and Nitro, West Virginia.
“We think Italmatch backing will accelerate WST growth, also in terms of innovation and geographical presence,” commented James Sasser, CEO of WST.
Italmatch also bought Norwegian technology start-up Eco Inhibitors in May this year. Eco Inhibitors has developed a new generation of eco-friendly hydrate inhibitors for oil & gas applications.
