IGI Private Equity takes majority stake Matec Industries

• Matec designs and constructs industrial wastewater filtration plants
• It has grown to become a group of 16 companies
• Matec realised a 60% increase in aggregate turnover as of June 2022 compared to June 2021

IGI Private Equity, with co-investment by private equity funds managed by Unigestion, announced on 4 August that it has bought a majority stake in Massa, Italy-headquartered Matec Industries. Matec designs and constructs industrial wastewater filtration plants. Its products and services are used across various sectors and industries including mining, construction and in the chemical and pharmaceutical industries.

Matec has grown to become a group of 16 companies, including production and sales firms, and employs approximately 185 people. It closed the 2021 financial year with consolidated revenue of approximately €50 million, more than double 2020’s figure. Matec realised an aggregate turnover of €31 million as of June 2022, a 60% increase compared to June 2021.

“IGI Private Equity has invested in Matec for two very good reasons,” said Angelo Mastrandrea, partner of IGI Private Equity and chairman of Matec Industries. “Firstly, because the company is a leading 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.  Secondly because of the ambitious growth and development project shared with Matec founders Matteo Goich and Massimo Bertolucci.

“After studying the reference sector, joining Matec represents the best way to realise our investment strategy concretely, which is increasingly attentive to 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.”

Matec has an industrial plan that it projects will lead to turnover exceeding €60 million in 2022. It will look to hit €100 million in the coming years. It will look to achieve this by maintaining its operational headquarters in Massa alongside the creation of a 20,000m² production site in Mulazzo, Italy.

“The prospect of an ambitious project with an even stronger Made in Italy focus, which Matec has always proudly presented around the world, got us involved right from the start,” said Massimo Bertolucci, co-founder of Matec. “The presence and support of IGI Private Equity will allow the group to further accelerate the industrialisation process, with a lean perspective, increasing efficiency, production capacity, innovation in terms of research and development, and above all competitiveness.”

IGI Private Equity is a Milan-based private equity firm that looks to acquire majority stakes through leveraged buyouts in Italian manufacturing companies.