SAFECHEM announces acquisition by circular economy champion Itelyum

SAFECHEM Europe GmbH (SAFECHEM) announces its acquisition by the Italian group Itelyum, a champion for the circular economy through the management and recycling of industrial waste, including recovery and purification of used solvents.

Itelyum has acquired SAFECHEM from its previous owner, CBPE Capital LLP (CBPE), a leading London-based private equity firm, effective as of 2 February 2024.

Based in Lodi, near Milan, and with revenues around €600m, Itelyum specializes in recycling complex streams of hazardous waste, leveraging distinctive chemical competences. Over the last  6 decades it has achieved a leading position in Italy in waste oil regeneration, solvent purification, and industrial waste management and recycling via successful implementation of a “one-stop-shop” strategy underpinned by the circular economy.

Committed to the principles of Responsible Care® and Product Stewardship, SAFECHEM has long been recognized for its expertise in enabling safe and sustainable use of solvents. It develops innovative business models, product and services to optimize the balance between ecology, economy and social responsibility.  

Within the Itelyum Group, SAFECHEM will continue to act as a distinct entity and with operational autonomy, ensuring a seamless transition and preserving its customer-centric focus while benefitting from Itelyum’s resources and capabilities.

Manfred Holzleg, General Manager of SAFECHEM, commented: "We are thrilled to become part of Itelyum. This combination will enable SAFECHEM to accelerate development of new innovative solutions to benefit our customers. Our shared commitment to resource optimization and environmental stewardship creates growth opportunities for both parties. Together we look forward to contributing to a more sustainable future."

Itelyum’s CEO, Marco Codognola, commented: “The acquisition of SAFECHEM complements our existing product portfolio perfectly and further underpins our commitment to a circular economy. In Italy we are the reference player for sustainable industrial waste management, able to cover customers' different environmental needs, as a result of synergies between the group's various operating sites and its recycling technologies. Now we can leverage our expertise in waste recovery and SAFECHEM’s proficiency in chemical solutions as well as its presence in several EU and international countries, to create a powerhouse of sustainable practices which will be offered to industrial customers. We are eager to embark on this journey with the talented team at SAFECHEM to amplify our impact on sustainability and innovation."