Lincoln International advises Delta Tecnic, a company held by an independently managed investment company affiliated with Investindustrial, on the acquisition of Polytechs

Polytechs

Founded in 1980 and headquartered in Cany-Barville, France, Polytechs is recognized as a trusted partner to leading polymer specialists and compounders, offering both customized tolling and semi-tolling services alongside a wide portfolio of proprietary masterbatches. Through advanced R&D and deep technical expertise, Polytechs empowers customers to efficiently manufacture specialty compounds, masterbatches and blends tailored to their requirements. In addition, Polytechs markets a selection of proprietary additive masterbatches that complement its tolling activities, serving key industries such as wire & cable, energy and food packaging.

The Deal

An independently managed investment company affiliated with funds managed or advised by Investindustrial acquired Spanish-based masterbatch producer Delta Tecnic in the fall of 2024. The investment thesis comprised an accelerated build-up effort both in terms of geographic expansion and product complementarity. With this latest acquisition, Delta Tecnic is strengthening its position as a one-stop provider of solutions for the thermoplastic industry, extending its offering to include advanced, specialty tolling services and an attractive portfolio of proprietary additive masterbatches. The geographical complementarity has enabled Delta Tecnic to strengthen its presence in the French market, while Polytechs gains access to Delta Tecnic’s established networks in Spain, Italy and Mexico, unlocking new growth opportunities in those markets. Following the acquisition of Polytechs and two additional acquisitions in Italy and Spain[1], Delta Tecnic’s consolidated sales have increased from approximately €60 million to more than €200 million over an 18-month period.

In a challenging market environment, Lincoln’s major challenge was to establish trust and the continuity of discussions between buyer and seller, who had an established relationship. Lincoln’s longstanding industry connections and expertise in this market helped in identifying the opportunity and engaging bilateral discussions between parties. The team leveraged prior transaction experiences to structure the negotiation tactics, which resulted in a favorable outcome for the client.

[1] Subject to the completion of the Spanish transaction.

Our Perspective

Guillaume Suizdak, Managing Director at Lincoln International, commented, “We are delighted to have advised Investindustrial in the growth strategy of its specialty masterbatches platform Delta Tecnic. Lincoln’s longstanding industry connections and expertise in this niche market helped in identifying the target and engaging bilateral discussions between parties, leading to a successful outcome.”

Delta Tecnic

Founded in 1982, Delta Tecnic is a global reference in the development and production of high-quality, tailor-made color and additive masterbatches for a variety of industries, such as wire & cables, automotive, agriculture and cosmetics. With a strong focus on innovation, the company combines technical expertise, tailor-made solutions and a continuous commitment to excellence. Operating globally, Delta Tecnic delivers solutions and services that optimize customer processes and enhance the final quality of their applications.

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