Milan, May 16, 2025 – Koinos Capital SGR, an independent multi-strategy investment firm founded by Francesco Fumagalli, Marco Morgese, and Marco Airoldi and chaired by Beppe Fumagalli, has completed its first exit. The fund Koinos Uno has sold 100% of its portfolio company, Impact Formulators Group (IFG) – a leading Italian platform in the production of additive and colorant masterbatches – to Delta Tecnic S.A., just twenty months after the initial acquisition.
This exit reflects the distinctive entrepreneurial approach of Koinos Capital SGR, which is focused on creating Italian sector champions through buy & build strategies. It also highlights the shared vision with the entrepreneurs of the various companies integrated into IFG, who consistently reinvested in the holding, supporting its ambitious development project.
IFG was established in 2023 by Koinos through the aggregation of three key players in the sector: Ultrabatch S.r.l., specialised in functional additive masterbatches for agriculture; Masterbatch S.r.l., focused on flame-retardant additive masterbatches; and Eurocolor, a producer of colorant masterbatches.
Since its founding, IFG – thanks in part to significant investments in technology and automation – has successfully scaled the Italian market, quickly expanding its portfolio across various additive masterbatch applications. These aim to enhance polymer performance through specific characteristics such as UV stabilizers, anti-fogging agents, antiblocking agents, slip agents, processing aids, antistatics, and flame retardants.
Francesco Fumagalli, Founding Partner of Koinos Capital SGR, commented: “We are proud to have finalized the first exit of our Koinos Uno fund with Impact Formulators Group, which today leads the Italian market in one of the most dynamic and promising sectors – masterbatches. This transaction, which has delivered excellent results to our investors in such a short time, also gives shape and substance to our entrepreneurial vision from the very beginning of IFG’s journey: to create a leading aggregation platform in Italy, capable of becoming a champion also on international markets.”
Delta Tecnic S.A. is a global leader in the production of customized colorant masterbatches for various industrial sectors. Following the transaction, Delta Tecnic will expand its masterbatch offering, while IFG will leverage the company’s presence in Spain and Mexico to grow its business in these new strategic markets.
The Koinos Capital SGR team involved in the transaction included Francesco Fumagalli, Marco Morgese, and Michele Dal Pozzo.