Italmatch Chemicals acquires majority of Brazilian water treatment firm
Specialty chemical group Italmatch Chemicals has signed a binding agreement to purchase a controlling stake in Alcolina, a prominent Brazilian water treatment solutions provider primarily serving sugar, bioethanol and broader industrial sectors.
Founded nearly 30 years ago, Alcolina operates two national production plants supporting 80 employees through a wider sales agent network. The company generated EUR35 million (USD38 million) in revenues in 2023.
Italmatch founder and CEO Sergio Iorio called the acquisition integral, strengthening both its Latin American presence and reinforcing its overseas expansion strategy. Alcolina brings complementary applications and end market diversity to Italmatch’s existing water portfolio.
Analysts note the deal caps recent Brazilian organic and inorganic moves for Italmatch since establishing a subsidiary there in 2017. Last year Italmatch secured a sugar color stabilizer technology license and collaboration agreement targeting domestic agriculture.
Iorio suggested the complementary acquisition creates leadership in higher-growth industrial process specialty chemicals like sugar purification agents. It also bolsters Italmatch’s bioethanol capabilities as global adoption advances.
According to Iorio, Italmatch’s global distribution reach and product range offer Alcolina new partnership opportunities abroad while accelerating its patented technology domestically through Alcolina’s sugar-focused dealer network.
Italmatch management views Alcolina’s environmental practices supporting its renewable chemicals focus as embodying sustainable principles. The group continues targeting emissions reduction and circular solutions upholding its ESG platform.
Headquartered in Genoa, Italy, Italmatch Chemicals operates subsidiaries across Europe, Asia-Pacific, the Middle East and North America. Its lubricants, water care, oil & gas, flame retardant and performance additive segments employ around 1,200 people through 19 dedicated plants today.
Alcolina General Manager Rogerio Barros welcomed technology exchange potential and international growth in “joining forces with Italmatch.” He highlighted promising growth runways especially around Italmatch’s bioethanol capabilities in emerging markets.
The transaction awaits customary regulatory clearances anticipating completion within the first quarter of 2024. Deal terms remain undisclosed.
