NEXTCHEM
Acquired by
AZZURRA CAPITAL / AZIMUT LIBERA IMPRESA
NEXTCHEM acquired by AZZURRA CAPITAL / AZIMUT LIBERA IMPRESA
Target
NEXTCHEM
Acquirer
AZZURRA CAPITAL / AZIMUT LIBERA IMPRESA
Context
Azzurra Capital and Azimut Libera Impresa acquired a 7.9% minority stake in NEXTCHEM. This transaction was executed via the vehicle Azzurra Next One, which purchased the shares from Maire Investments (the family office of the Di Amato family). The strategic rationale for this transaction is to strengthen NEXTCHEM's shareholder structure and validate its growth trajectory ahead of a planned IPO on the Milan stock exchange. The deal allows MAIRE to maintain majority control (82.1%) while institutionalizing the technology platform to accelerate its global acquisition strategy, as illustrated by the simultaneous purchase of the Ballestra Group.
NEXTCHEM, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the average currently observed in the Industry & Manufacturing sector (10.9x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
NEXTCHEM is the sustainable technology division of the MAIRE Group, dedicated to enabling the energy transition and decarbonization of the global chemical industry. Its business model focuses on developing, licensing, and scaling innovative proprietary technologies in green chemistry, circular economy, and low-carbon fertilizer production. Strategically, NEXTCHEM acts as an industrial technology platform that bridges the gap between lab-scale innovation and commercial-scale industrial realities. The organization’s value proposition is centered on providing a comprehensive suite of solutions for electrification, recycling, and operational efficiency. By leveraging MAIRE’s global commercial network and engineering heritage, the firm aims to deepen its access to fast-growing specialty chemical end-markets while significantly expanding its portfolio of market-ready sustainable technologies.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with NEXTCHEM
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 01/2026 | NEXTCHEM | BALLESTRA GROUP | ITALY | Industrial Equipment | NEXTCHEM has signed a binding agreement to acquire 100% of the share capital of Ballestra Group from its current shareholders. The strategic rationale for the transaction is to integrate Ballestra’s world-class proprietary technology portfolio in surfactants and fertilizers, thereby expanding NEXTCHEM’s current nitrogen-based offerings into phosphate, sulfur, and potassium-based solutions. This acquisition allows MAIRE to establish a more robust European technology platform with a global reach, focusing on the decarbonization of energy-intensive industrial processes. Furthermore, the integration of Ballestra provides NEXTCHEM with immediate access to a significant consolidated backlog, which was expected to exceed €315 million by the end of 2025. The deal is expected to create substantial cross-selling opportunities with MAIRE’s sister company, Tecnimont, particularly for large-scale energy transition and material transformation projects worldwide. |
REFERENCES
Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Acquirer: azzurra capital / azimut libera impresa