Maire Tecnimont acquires majority stake in Conser
Published by Bella Weetch,
Editorial Assistant
Hydrocarbon Engineering,
Maire Tecnimont S.p.A. has announced that, through its subsidiary NextChem Holding S.p.A., it is expanding into the high-value derivates and biodegradable plastic byproducts licensing markets with the acquisition of an 83.5% stake in Conser, a technology licensor and process engineering design company based in Rome, Italy. Founded more than 50 years ago, Conser has been developed by Flavio Simola, who has led the company to its current technological excellence. The closing, which is subject to customary conditions, is expected to take place by 15 April 2023. NextChem Holding also retains an option to acquire the remaining 16.5% stake within the next three years. The acquisition of Conser, which is expected to reach total revenues of approximately €25 million in 2022, is strategically important because it allows the Group to enter new markets.
Conser has a portfolio of technology patents dedicated to the energy transition and added-value specialty chemicals processes. Such a portfolio includes cost-effective and process-flexible technologies for maleic anhydride, butanediol and dimethyl succinate, which are crucial building blocks for the production of biodegradable plastics, particularly polybutylene succinate (PBS) and polybutylene adipate co-terephthalate (PBAT). Conser’s portfolio also includes technologies for liquid organic hydrogen carriers (LOHCs), specialties for lithium-based batteries production, and bio-based (vegetable glycerine) derivatives.
PBS and PBAT have excellent biodegradation properties, and their relevant consolidated markets show very promising outlooks driven by a growing demand – especially in Asia, where Conser has licensed more than half of the plants in the region in the last year for several leading global players.
Conser will benefit from Maire Tecnimont Group’s technological know-how and expertise to further optimise its current and future technologies, in order to develop, among other solutions, a fully bio-based or biodegradable polymer.
With this strategic acquisition, Maire Tecnimont further strengthens its leadership in polymers by adding biodegradable plastics byproducts and added-value specialty chemicals technologies to its technological portfolio and aims to combine it with its integrated projects service capability, while leveraging its global commercial network.
Alessandro Bernini, Maire Tecnimont Group Chief Executive Officer, commented: “This important step enables Maire Tecnimont Group to expand its technology portfolio in the Sustainable Chemicals area. We will integrate our value proposition as a licensor and a technology-driven energy services provider with new innovative solutions to support global markets in the progressive shift towards a more sustainable economy. We appreciate the added value that Flavio Simola has brought to the company, and we look forward to keep working with him and his team.”
Flavio Simola, Conser’s Managing Director and majority shareholder, added: “This transaction is extremely interesting as it will enable further expansion of technological as well as commercial activities globally”.
Conser has been advised by FAI ADVISORY and by law firm Foschiani of Rome, while Maire Tecnimont has been supported by its internal M&A and legal teams.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/24012023/maire-tecnimont-acquires-majority-stake-in-conser/
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