Ardian Acquires Italmatch From Mandarin Capital

Global alternative investment firm Ardian, previously AXA Private Equity, has signed a binding agreement to acquire Italian specialty chemicals manufacturer Italmatch Chemicals from Euro-Asia private equity firm Mandarin Capital Partners and the Malacalza Family, according to an announcement made by Ardian.

Specific terms were not disclosed, but the senior management of Italmatch will retain a 12% stake in the company after the deal.

Mandarin Capital owns 67.6% of Italmatch through an investment it made in 2010. The deal will provide a full exit for Mandarin Capital.

Headquartered in Genoa, Italmatch has five production facilities in Europe, two in Italy, three in Germany, the U.K. and Spain. Italmatch also has production facilities and joint-ventures in China and Japan.

Italmatch is forecasting 250 million euros sales in 2014, more than double compared to 2012.

This is the fourth deal executed by the Ardian mid-cap buyout team in Italy.

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