MAIRE has completed the €148.2 million acquisition of Ballestra Group, significantly expanding Nextchem's technology portfolio and strengthening its position in high-growth markets including fertilizers, advanced materials and sustainable chemicals.
The deal, first announced on 24 December 2025, gives Nextchem full ownership of Ballestra, a global provider of proprietary technologies, engineering services and process plants for the chemical industry.
The acquisition broadens Nextchem's capabilities across the full NPK (nitrogen, phosphorus and potassium) fertilizer value chain while adding technologies for sulfuric, phosphoric and hydrofluoric acid production, creating new opportunities in strategic materials, metals recovery and mining.
It also strengthens Nextchem's presence in the electrification sector through fluorine-based technologies used in photovoltaic panels and lithium-ion batteries, leveraging the expertise of BUSS ChemTech, Ballestra's Swiss subsidiary.
In addition, Ballestra's global leadership in oleochemistry and its Mazzoni-branded technologies for detergents, surfactants and soaps expands the company's offering in sustainable consumer products.
The acquisition brings approximately 460 employees into Nextchem, adding engineering expertise, industrial know-how and proprietary process technologies. It also creates cross-selling opportunities with Tecnimont, MAIRE's Integrated Engineering & Construction Solutions business, across industrial plant development, revamping and material transformation projects.
Ballestra's research laboratories and industrial demonstration plants in Busto Arsizio, Milan and Basel will become part of Nextchem's European innovation platform, supporting the development, validation and scale-up of new chemical technologies.
The purchase price of €148.2 million was fully paid at closing and was based on an enterprise value of €108.2 million plus adjusted net cash of €40 million. The acquisition was financed through a combination of existing cash reserves and dedicated bank credit facilities.
Ballestra will continue to be led by Paolo Iengo, who will remain at the helm of the business.
Commenting on the acquisition, Alessandro Bernini, CEO of MAIRE, said: "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."
