May 14, 2025 14:54
After establishing a leading Italian platform for additive and colorant masterbatches through the Impact Formulators Group (IFG) holding, Koinos Capital has signed an agreement to sell 100% of the business to Spanish company Delta Tecnic, which is backed by Italian investment firm Investindustrial.
The transaction involves three companies, all located in northern Italy, that will now become part of the Spanish group: Ultrabatch, based in Milan, specializing in functional masterbatch formulations for the agricultural sector; Masterbatch, located in Casei Gerola (Pavia province), a producer of flame-retardant additive concentrates primarily for the construction and electrical cable industries; and Eurocolor, headquartered in Varese, active in the production and marketing of masterbatches for coloring and additive solutions for polyolefins, styrenics and engineering plastics.
“The deal highlights Koinos Capital SGR’s entrepreneurial investment model, based on the creation of sector-specific industrial platforms through buy-and-build strategies, and underscores the alignment and shared vision with the entrepreneurs of the acquired companies. These entrepreneurs reinvested in the holding, fully endorsing its ambitious growth strategy.”
“This transaction has quickly delivered strong returns for our investors and embodies our original entrepreneurial vision: to build a national champion with the potential to scale internationally,” said Francesco Fumagalli, founding partner at Koinos Capital SGR.
Delta Tecnic, a manufacturer of color masterbatches for more than 40 years, is now entering the additive concentrates segment for plastics. The acquisition will also allow IFG to expand into Spain and Mexico, leveraging Delta Tecnic’s established footprint in both markets. With annual revenues of about €60 million, Delta Tecnic operates three production facilities—two near Barcelona and one in Querétaro, Mexico—and employs about 200 people worldwide.
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