US private equity firm Bain Capital has beaten off bids from KKR and Cinven to acquire Italian chemicals maker Italmatch from French investor Ardian. No financial details were disclosed but the deal is rumoured to be worth €700m ($808.71 million). Italmatch has more than doubled its sales since coming under Ardian control in 2014, while Bain said it plans to grow the firm "organically" and with acquisitions.
US private equity firm Bain Capital has beaten off bids from KKR and Cinven to acquire Italian chemicals maker Italmatch from French investor Ardian. No financial details were disclosed but the deal is rumoured to be worth €700m ($809m). Italmatch has more than doubled its sales since coming under Ardian control in 2014, while Bain said it plans to grow the firm "organically" and with acquisitions.