Investindustrial agrees to acquire Delta Tecnic, a global leader in tailor-made colour and additive masterbatches

An independently managed investment subsidiary of Investindustrial Growth III SCSp (“Investindustrial”) has entered into an agreement to acquire Delta Tecnic S.A. (the “Company”), a global specialty chemical manufacturer focused on the production of tailor-made colour and additive masterbatches for a variety of industries, including the wire & cables sector where it is one of the market leaders.

Established in 1982 and headquartered in Barcelona (Spain), Delta Tecnic formulates and produces tailor-made colour and additive masterbatches for a variety of industries, including automotive, energy, calendered 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 revenues), the Company also distributes pigments and other industrial chemicals.

In 2023, Delta Tecnic generated revenue of approximately €60 million. With a total workforce of over 200 employees, 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. As a well-established player with more than 40 years of experience and a strong reputation for innovation and quality, in addition to a significant international reach, 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.

About Investindustrial

Investindustrial is a leading European group of independently managed investment, holding, and advisory companies with €15 billion of raised fund capital. With ESG principles deeply embedded into the Firm’s core approach, Investindustrial has an over 33-year history of providing mid-market companies with capital, industrial expertise, operational focus, and global platforms to accelerate sustainable value creation and international expansion.

Certain companies of the Investindustrial group are authorised by, and subject to regulatory supervision of the FCA in the United Kingdom and the CSSF in Luxembourg. References to ‘Investindustrial’ are of generic nature, for ease of reading, and may refer, depending on the context, to a fund or any of its independently managed subsidiaries. Investindustrial’s investment companies act independently from each other and each Investindustrial fund. Additional information is available at www.investindustrial.com.