EU Investment Group Goes on Plastics Shopping Spree

European investment group Investindustrial is executing a pair of plastics industry acquisitions, agreeing to purchase specialty chemicals maker Delta Tecnic and automation and auxiliaries supplier Piovan.

Automation Systems, a subsidiary of Investindustrial, is expected to close its purchase of Piovan by Oct. 15. Brands under Piovan’s umbrella include Conair, Doteco, Pelletron, and Thermal Care.

Strategic acquisition in fast-evolving sector

“The Piovan group exemplifies a perfect synthesis of the investment characteristics that Investindustrial prioritizes — a family-owned company in a strategic and fast-evolving sector such as automation systems, demonstrating worldwide excellence,” said Andrea Bonomi, chairman of the industrial board of Investindustrial. “Investindustrial intends to focus on the Piovan group’s organic and inorganic globalization and sustainability, areas to which it has always been committed. We are enthusiastic and grateful to work with Mr. Nicola Piovan, the management team, and the company on a growth project that will enable expansion over the years.”

Nicola Piovan will continue to serve as executive chairman of Piovan’s board of directors, while Filippo Zuppichin will become CEO.

Accelerating Delta Tecnic's global expansion

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Meanwhile, in acquiring Delta Tecnic, Investindustrial plans to “significantly accelerate” the company’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 chemicals sectors.”

Delta Tecnic, founded by Salvador Torras and Martí Baqués in Barcelona in 1982, generated revenue of approximately €60 million in 2023 — more than 70% outside of Spain. The company, which employs more than 200 and sells in over 60 countries, formulates and produces tailor-made color and additive masterbatches for numerous industries, including automotive, energy, and telecommunications.

"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,” Bonomi said. “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 environmental, social, and governance policies.”