Italmatch to acquire specialties firm

Italmatch Chemicals has agreed to buy U.S. chemical maker Detrex for $43 million. Shareholders who own 52% of Detrex have agreed to the takeover. The acquisition will bring together performance additives maker Italmatch, which has $400 million in annual sales, with Detrex, which has $50 million in annual sales of additives and high-purity hydrochloric acid. Italmatch, owned by the private equity firm Ardian, has made several acquisitions in the past two years, including Solvay’s business in phosphonates for desalination, organophosphonates maker Compass Chemical, and precious metal recovery firm Magpie Polymers.