Aimia Inc. announces closing of Giovanni Bozzetto S.p.A.

TORONTO — Aimia Inc., a holding company focused on long-term global investments, confirms that it has closed the previously announced acquisition of Giovanni Bozzetto S.p.A. Bozzetto is an ESG-focused provider of specialty sustainable chemicals with a portfolio of over 2,000 products. All amounts denominated in Euros below have been translated at the closing date of May 9, 2023 at an exchange rate of 1.4685.

Phil Mittleman, CEO of Aimia, said: “Today marks an important milestone for Aimia as we close our second acquisition since the sale of our PLM stake in the second half of last year. With over 100 years of operations, high EBITDA margins coupled with strong free cash flow conversion and a fantastic management team, Bozzetto represents an outstanding opportunity for Aimia to own one of the world’s largest ESG-focused providers of specialty sustainable chemicals. Bozzetto, as well as our previously announced acquisition of Tufropes, will form the backbone of our strategy to continue to acquire businesses that generate significant cash flow for Aimia while presenting strong opportunities for further growth.”

Aimia invested $206.3 million (€140.5 million) for an equity stake of 94% in the Company. Bozzetto’s executive management team invested $13.3 million (€9.1 million) of their after-tax sales proceeds alongside Aimia into the new investment structure, which represents a minority position of approximately 6%.

For the fiscal year 2022, Bozzetto reported revenue of $320.6 million (€218.3 million) and Adjusted EBITDA of $45.0 million (€30.6 million).

Roberto Curreri, CEO of Bozzetto commented: “Bozzetto is driven by a passion for innovation in the specialty sustainable chemicals space. I’m excited to usher in the next phase of Bozzetto’s journey under Aimia’s stewardship. I’m confident that our partnership with Aimia will catalyze meaningful growth and opportunities for many years to come.”