Italy’s MAIRE completes $173.4 million Ballestra acquisition

Following the communication released on 24 December 2025, MAIRE (MAIRE.MI) announces that Nextchem has completed the acquisition of the entire share capital of Ballestra group (“Ballestra”), one of the leading global players in the licensing, design and engineering of processing plants, as well as in the supply of proprietary technologies and equipment for the chemical industry.The integration of Ballestra significantly strengthens Nextchem’s positioning, expanding its technology portfolio in phosphate and potassium fertilizers and completing its coverage of the full NPK (nitrogen, phosphorus and potassium) spectrum. At the same time, it provides access to new segments with high growth potential, particularly in chemistry for the production and circularity of strategic materials needed to develop and expand electrification, where Nextchem is already present with metals recovery technologies following the recent acquisition of ETEK. Among these, know-how in sulfuric, phosphoric and hydrofluoric acid offers significant opportunities and commercial synergies, also supporting new customers in the metals and mining industries. Likewise, the expansion across the electrification value chain is enabled by fluorine-based technologies, which are key for applications in photovoltaic panels and lithium-ion batteries, leveraging the global leadership of BUSS ChemTech, Ballestra’s Swiss subsidiary. Finally, in oleochemistry, solutions for detergents, surfactants and soaps, where Ballestra holds a global leadership position in the design and supply of process plants and machinery under the well-known Mazzoni brand, respond to the growing demand for sustainable products in the consumer goods sector.

Italy’s MAIRE has completed Nextchem’s acquisition of Ballestra for €148.2 million (~$173.4 million), strengthening its technology portfolio across fertilisers, advanced chemicals and electrification materials.
The deal expands capabilities in NPK technologies, fluorine chemistry, metals recovery and oleo chemistry, while adding about 460 employees and new European R&D facilities.

With Ballestra, Nextchem integrates not only a best-in-class technology portfolio, but also strong industrial know-how and highly qualified human capital, comprising approximately 460 people, further strengthening the Group’s distinctive process design capabilities. The acquisition also creates new cross-selling opportunities with Tecnimont, MAIRE’s IE&CS business unit, across industrial plant projects, revamping and material transformation.

Furthermore, Ballestra’s proprietary laboratories and industrial demonstration plants in Italy (Busto Arsizio and Milan) and Switzerland (Basel), dedicated to the development, validation and scale-up of new technological solutions, enable the expansion of Nextchem’s European innovation platform, strengthening its ability to transform chemical and engineering expertise into scalable industrial solutions, supporting its growth trajectory.

The purchase price is €148.2 million (~$173.4 million), fully paid, based on an enterprise value of €108.2 million and a net cash – adjusted according to the criteria agreed in the contract – of €40.0 million in cash.

The acquisition was funded through a combination of cash-on-hand and dedicated bank credit facilities granted to Nextchem.

Ballestra will continue to operate under the leadership of Paolo Iengo, a manager with long-standing experience in the sector and a strong technical and commercial background in chemistry and engineering.

Alessandro Bernini, CEO of MAIRE, commented: “The completion of the acquisition of Ballestra represents a highly significant strategic and industrial milestone for our Group. This transaction strengthens our positioning in segments with high growth potential and expands our ability to support new and existing customers in phosphate fertilizers, advanced materials chemistry and metals. With Ballestra, we bring into Nextchem proven technologies, distinctive capabilities and highly valuable people, who will contribute to accelerating the development of a European technology platform with global reach.”

In the transaction, the sellers were advised by Freshfields LLP and Rothschild & Co, while for MAIRE the deal was handled by the Group’s M&A, Legal and Corporate teams, with operational due diligence support from PwC.

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ALCHEMPro News Desk (JP)