Argos Soditic, Iniziativa Piemonte and the management of Italmatch Chemicals have sold the business to Investindustrial in a secondary buyout transaction for an undisclosed enterprise value. Argos Soditic bought into the business, acquiring a 45% stake for $3.72m in April 2001, through the Euroknights IV of Switzerland fund. Iniziativa Piemonte and Investindustrial were already involved in Italmatch Chemicals as investors following a 1997 buyout from the Saffra Group.
Argos Soditic’s $3.72m purchase was exited for €7.6m in July this year.
Argos Soditic and Iniziativa Piemonte each held a 45% stake in the European manufacturer of phosphorous derivatives for the production of lube oil additives, flame retardants additives and other phosphorous-based products, while management held a 10% stake.
Investindustrial has reinvested in Italmatch Chemicals to complete the build up process by pursuing selected investment opportunities in the oil and plastic additives segment of the speciality chemical sector.