Investindustrial to Expand Specialty Chemicals Portfolio with Delta Tecnic Acquisition

Established in 1982 and headquartered in Barcelona (Spain), Delta Tecnic formulates and produces tailormade color and additive masterbatches for a variety of industries, including automotive, energy, calendared sheets and telecom.

The company has a strong presence in Europe and North America by operating 3 owned production sites, 2 near Barcelona (Spain) and 1 in Querétaro (Mexico). In addition to manufacturing its own masterbatches (80% of revenue), the Company also distributes pigments and other industrial chemicals. In 2023, Delta Tecnic generated revenue of approximately €60 million. The company has a well-established global presence, selling in over 60 countries (more than 70% of revenue generated outside of Spain) to a diversified base of longstanding and blue-chip customers.

With this acquisition, Investindustrial plans to significantly accelerate Delta Tecnic's international expansion, both organically and with targeted acquisitions across Europe, North America and Asia, following the successful strategy completed with previous investments in the chemical sectors such as Benvic, Polynt and Bakelite Synthetics.

Delta Tecnic is ideally positioned to be the starting platform for such a growth project. Delta Tecnic is currently owned by its founders Salvador Torras and Martí Baqués, together with other minority shareholders. Investindustrial will acquire 100% of the Company at closing.

Andrea C. Bonomi, chairman of Investindustrial's Advisory Board, said, 'Delta Tecnic is one of the market leaders, known for its high-quality products and longstanding client relationships, with the ability to achieve a successful global buy-and-build strategy through complementary acquisitions. We are excited about Delta Tecnic's growth potential and look forward to supporting the Company in the next phase of its growth, leveraging our deep industrial experience in transforming companies into global leaders as well as our operational enhancement teams in areas such as production and ESG. We believe Delta Tecnic is the right platform to implement a further globalization strategy that is core across the businesses we invest in.'

The current shareholders of the Company, led by Salvador Torras, president and founder of Delta Tecnic, and Martí Baqués, Vice President, have expressed that they are, 'hopeful for the contribution of Investindustrial and its resources to accelerate the future growth of Delta Tecnic, and they appreciate the trust placed in the Company's track record and its current management team'.

Investindustrial was advised by Advancy (commercial and operations), Dokei and IAC (real estate), Freshfields (tax), PwC (financial, tax and IT), Creel and Uría Menéndez (legal and labour), Marsh (insurance), and Ramboll (ESG), whereas the sellers were advised by Banco Sabadell (M&A) and Tax Barcelona Advocats i Economistes. The financing for the acquisition has been underwritten by CaixaBank and Santander.