Italmatch Chemicals is to acquire BWA Water Additives, adding to its portfolio of chemicals for water treatment and industrial processes.
The deal is the third acquisition by Italmatch in three years: it acquired Sudamfos Do Brasil in 2017, and in 2016, it bought Solvay.
The Italian firm focuses on performance additives for water and process treatment industries, oil and gas, and industrial lubricants and plastics. BWA provides chemicals for the oil and gas, industrial water treatment and desalination industries.
The two companies’ offers are “highly complementary”, an Italmatch statement said.
“This transaction is a unique opportunity to continue the group’s growth through high-quality research and development, and best-in-class technology for the most demanding applications. BWA is the ideal partner, sharing our strategic view to grow through innovative and tailor-made solutions,” said Italmatch chief executive Sergio Iorio.
The deal will be financed through debt and Italmatch equity.
Italmatch past buys:
Italy’s Italmatch snaps up Brazilian chemicals company (November 2017)
Italmatch buys Solvay desalination and additives business (January 2016)