Italmatch Chemicals SpA, an Italian specialty chemicals company controlled by Mandarin Capital Partner, has successfully completed the acquisition of the phosphonates business under the global leading brand Dequest, and of the phosphorus chlorides business from Netherlands-based Thermphos International BV, according to Mandarin Capital Partner on March 15.

"The acquisition of Dequest and the Thermphos Chlorides Business represents a unique opportunity to consolidate and grow the business in the long term, through the exploitation of significant potential synergies," said Italmatch Managing Director Sergio Iorio.

Italmatch Group has five manufacturing sites in Europe, and three plants in China, in addition to sales and distribution subsidiaries, focused in Asia Pacific and including local technical assistance capabilities.

Chinese leading construction-machinery maker Zoomlion and investors of Mandarin Capital Partners, Hony Capital and Goldman Sachs purchased CIFA in 2008 for 271 million euros ($354 million).