A consortium of investors comprising SPE PEF III (SPE Capital), Proparco and Amethis MENA Fund II (Amethis) has invested in Delta Holdings B.V. (Delta Holdings), a prominent manufacturer of specialty additives with a focus on the paint and coatings industry.
Delta Holdings has emerged as a leading player with strong international presence in Egypt and India, offering deep expertise in specialty chemical solutions for the paints and coatings, graphic arts, and plastics industries. Its product range is tailored to meet industry-specific needs, supported by a diverse portfolio of over 80 offerings across five key segments: driers and catalysts, dispersion control additives, foam control additives, specialty additives, and surface control additives. With a solid reputation for quality and reliability, Delta Holdings serves customers in more than 30 countries, ranging from local businesses to global multinationals.
The consortium’s investment will support Delta Holdings in broadening its product offering and accelerating its export-oriented initiatives. In close collaboration with the company’s founders (the Sponsors), Delta Holdings will continue to strengthen its market position while maintaining its strong commitment to clients, employees, and long-term partners.
In a statement regarding the investment, the Sponsors remarked :
We are proud to announce our strategic partnership with SPE Capital, Proparco, and Amethis. This collaboration marks a significant milestone in our journey towards innovation and growth. With the support of our new partners, we are confident in our ability to enhance our global market presence, drive sustainable development, and create lasting value for our corporate team and stakeholders. This partnership will also enable us to welcome outstanding new leaders and further strengthen our governance, ensuring we achieve new heights and set a benchmark for excellence in the industry.
We are thrilled to partner with the company’s exceptional management team, whose vision, execution, and track record compelled us to pursue this investment. The company has delivered a strong and resilient performance, backed by solid fundamentals and a clear strategic direction. We are confident in its potential for continued growth and value creation, and we look forward to supporting the team as they scale operations, deepen capabilities, and pursue their ambitious growth and impact objectives.
Stéphane Heuzé and Ahmed El Oraby
Managing Partner at SPE Capital and Partner at SPE Capital
Proparco is very proud to partner with SPE Capital and Amethis to support Delta Holdings in delivering value-added solutions to the coatings industry, serving local, regional and multinational customers. Leveraging Delta Holdings’ strong technical expertise and customization capabilities, we aim to accelerate the company’s next phase of growth on a global scale, while pursuing its commitment to sustainability through the development of environmentally friendly solutions. Additionally, Proparco is committed to supporting Delta Holdings’ management by providing targeted expertise and guidance on environmental, social and governance (ESG) matters to help meet and maintain the highest standards in the industry.
Tibor Asboth
Head of Private Equity Africa & Middle East at Proparco
We look forward to partnering with SPE Capital, Proparco and the Sponsors to support Delta Holdings across its next growth phase. The company, led by its fantastic management team, has proven resilient and successful over the prior period and aligns well with our investment strategy. We are excited to work closely with our partners and the management team to help unlock Delta Holdings’ significant growth and impact potential over the coming years.
Toufic Khoueiri
Senior Partner at Amethis
Compass Capital was the sole financial advisor to the Sponsors while Al Tamimi & Co. acted as their legal advisor with Van Campen Liam. The investment consortium was advised by Emerton, Huub van Beijeren and Bram Drexhage (commercial and strategic advisors), Helmy, Hamza & Partners – a member firm of Baker & McKenzie International, BLC Robert & Associates (legal advisors), Saleh, Barsoum & Abdel-Aziz – a member firm of Grant Thornton (financial and tax advisor), PricewaterhouseCoopers LLC (tax and structuring advisor), IBIS Consulting (ESG and Impact), along with various other advisors and specialists in commercial, technical and ancillary matters.
