Color Max Acquires Control of Ternicolor

Color Max, a company specializing in the sale and distribution of paints and related equipment for the construction, automotive, and industrial markets, has acquired control of Ternicolor, a company based in Terni that focuses on similar sectors. Studio D'Incecco, an advisory firm, played a key role in this transaction, providing M&A advisory services and managing due diligence and financing aspects. Alongside the initial acquisition, Color Max has entered a binding agreement to acquire the remaining share capital of Ternicolor within the next two years, aiming for full control to facilitate a merger. Ternicolor wholly owns Central Color & Services, located in Perugia, contributing to an expanded operational and territorial footprint for Color Max. This strategic move is part of Color Max’s broader industrial plan, bolstering its market presence in Umbria and building on previous acquisitions in Emilia Romagna. Color Max's revenues for 2024 were reported at €16.6 million with 51 employees, and projected consolidated revenues, including acquisitions, are expected at €22 million for 2025.