Private equity company IGI has taken majority ownership of Italian washing plant provider Matec Industries.
Matec designs and builds plants for the filtration of wastewater used in industrial processes in various sectors including aggregates, mining, construction, concrete, marble and granite, ceramics, glass, plastics and in the chemical and pharmaceutical industry.
Since being founded in 2004, Matec has grown into a group of 16 companies, including production and sales companies. It employs about 185 people, of which about 60 in production at the Massa plant, and has a network of about 120 distributors and 150 agents around the world.
The group is one of the leading operators in the world of industrial process water filtration plants, with more than 4,000 installations worldwide and an export share of over 80%, thanks to a consolidated presence in almost all continents, with subsidiaries in the USA and Brazil and sales offices in India, Australia, the UK, France, Turkey, Germany, Scandinavia, and Morocco.
Angelo Mastrandrea, partner of IGI Private Equity and chairman of Matec Industries , says IGI has invested in Matec for two main reasons. Firstly, because the company is aleading player in the application of principles of sustainability and reuse of natural resources, through the recovery and reuse of waste materials and the recycling of water used in industrial processes; and secondly, because of the ambitious growth and development project IGI has conducted with Matec founders Matteo Goich and Massimo Bertolucci.
“After having studied the reference sector, joining Matec represents the best way to concretely realise our investment strategy, which is increasingly focused on environmental protection, sustainability and the efficient use of natural resources, but always combined with the search for Italian industrial excellences eager to realise ambitious growth plans.”
Goich commented: “We chose IGI for its professionalism and experience in this type of operation on industrial assets, as well as for the entrepreneurial approach of its partners and the team as a whole. The partnership we have created aims to strengthen the company from an organisational and managerial point of view while improving its financial and balance sheet results.”
The Matec group ended the financial year 2021 with consolidated revenues of around €50m, more than doubled compared to 2020. In June 2022, Matec realised an aggregate turnover of €31m, a 60% increase compared to June 2021.
