Investor Koinos Capital merges competitors Ultrabatch and Masterbatch / Expansion plans for new group
A new corporate group is being launched in Italy – the recently founded Impact Formulators Group (Busto Arsizio, Italy), with the two masterbatch and additive specialists Masterbatch (Casei Gerola, Italy; and Ultrabatch (Castano Primo, Italy; at its core.

Both were acquired in the second half of 2023 by compatriot private equity investment firm Koinos Capital (Milan;, which specialises in small and medium-sized companies. To a certain extent, the respective management bought back into the holding company. 

Koinos co-founder Francesco Fumagalli said plans are to double the group’s turnover from around EUR 40 mn within two years. “We are planning further acquisitions, particularly in the segment of colour masterbatches and additives for PET, polyolefins, and technical thermoplastics,” he noted.

With sales growth of 18% over the past five years, Masterbatch itself was on the right track. The funds for international expansion that may have been lacking are now to be provided by Koinos.

The company, which specialises in flame-retardant masterbatches, has a capacity of 1,700 t/y at its 2,500 m² plant in Casei Gerola, situated between Turin and Milan. Around half of its turnover of EUR 12.5 mn comes from exports, primarily to Germany and France. 

Considering the investor’s expansion plans, which are primarily international in focus, the Ultrabatch plant in Castano Primo is unlikely to remain the only one (Photo: Koinos Capital)

With a reported revenue of EUR 30 mn, Ultrabatch, at almost three times the size, has been part of the Koinos portfolio since July 2023. In contrast to Masterbatch, its focus is on the agricultural sector.

The company’s product portfolio includes additives and masterbatches for UV protection for greenhouse and mulch films, as well as nets and monofilaments. A smaller proportion is accounted for by industrial applications such as compounds for packaging, artificial turf, and cables, for example to reduce static electricity. 

Ultrabatch said its market share in Italy is around 15%. About 40% of the sales volume is exported, mainly to Europe and North Africa.

04.12.2023 [254091-0]
Published on 04.12.2023
Impact Formulators: Gruppe aus Wettbewerbern Ultrabatch und MasterbatchGerman version of this article...

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