Ardian agrees MBO of Italmatch Chemicals from Mandarin Capital, Malacalza family


red phosphorous ItalmatchEuropean private investment major Ardian has agreed the buyout of Italian chemical maker Italmatch Chemicals from Mandarin Capital Partners and the Malacalza family.

The deal for 78 per cent of the business is the fourth executed in Italy by Ardian’s mid cap buyout team.

Mandarin bought a 67.6 per cent stake in Italmatch from Investindustrial in 2010.

Italmatch has expanded its cornerstone business of supplying phosphorus-based additives for engine lubricant oil and plastics through targeted acquisitions in the past few years.

It has sales of €250m forecast for 2014, 90 per cent of which are expected to be generated outside of Italy.

The company has an EBITDA in excess of €30m.

Ardian mid cap team head Philippe Poletti said, “Italmatch is a great example of Italian industrial excellence.

“It has posted robust turnover figures in the last few years and we foresee other great development opportunities for the company.

“Ardian will work in partnership with Italmatch’s management team in order to identify and take advantage of such opportunities.”

Copyright © 2014 AltAssets