Koinos Capital Sells IFG to Delta Tecnic
Deal News | May 15, 2025 | Finance Community IT - 3 Private Equity
Koinos Capital, an independent multi-strategy investment firm, has successfully exited its first investment by selling the entire stake in Impact Formulators Group (IFG) to Investindustrial's controlled entity, Delta Tecnic. The sale comes just 20 months after Koinos Capital first acquired IFG. IFG was established in 2023 through the aggregation of three leading companies in the masterbatch sector: Ultrabatch, Masterbatch, and Eurocolor. IFG has rapidly expanded its portfolio in Italy, leveraging technology and automation. Delta Tecnic, a globally active company in the production of customized masterbatch colorants, will use this acquisition to enhance its offerings while IFG plans to expand into the Spanish and Mexican markets. The combined entity will form a leading independent European group in masterbatch production with a revenue exceeding 100 million euros and operations in six production sites across Italy, Spain, and Mexico with over 270 employees. The acquisition reflects Koinos Capital's approach to creating sectoral excellence in Italy through buy & build operations.
Sectors
- Private Equity
- Chemicals & Materials
Geography
- Italy – Koinos Capital and IFG are based in Italy, where significant operations and market expansion have occurred.
- Spain – Delta Tecnic is a Spanish company, and the acquisition will help IFG enter the Spanish market.
- Mexico – Delta Tecnic's presence in Mexico offers IFG an opportunity for market expansion.
Industry
- Private Equity – The article discusses Koinos Capital's sale of IFG, involving private equity practices and investment strategies.
- Chemicals & Materials – IFG and Delta Tecnic both operate within the masterbatch production industry, a segment of the broader chemicals sector.
Financials
- 100,000,000+ euros – Combined revenue expected from the new entity post-acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Koinos Capital | Seller | Company | An independent multi-strategy investment firm that made its first exit through this sale. |
| Investindustrial | Controlling Entity | Company | Through its fund Investindustrial Growth III, it controls Delta Tecnic. |
| Impact Formulators Group (IFG) | Target Company | Company | A company in the masterbatch industry, composed of Ultrabatch, Masterbatch, and Eurocolor. |
| Delta Tecnic | Buyer | Company | A Spanish company engaged in producing masterbatch colorants, seeking market expansion. |
| Global Polymer Solutions | Investment Entity | Company | An investment company owning Delta Tecnic. |
| Francesco Fumagalli | Founding Partner of Koinos Capital | Person | Involved in executing the sale and developing Koinos Capital's vision. |