Berlac Acquired Italian Coatings Maker Vernici Caldart
Swiss firm Berlac expanded its industrial coatings portfolio through the acquisition of the Italian manufacturer.
Updated on Sept. 30, 2026 in Business Strategy
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Berlac has acquired Vernici Caldart from the private equity firm Itago IV. The deal unites the Swiss company with an Italian manufacturer that generates 35 million euros in annual revenue.
Why it matters
The acquisition allows Berlac to integrate complementary product portfolios and expand its international market footprint. It marks the third exit for the Itago IV fund, highlighting a shift in ownership for the Italian manufacturer.
Vernici Caldart generates 35 million euros in annual revenue with an EBITDA margin consistently above 20%. The target operates two production facilities in Bellusco and Pojana Maggiore, which recently underwent a capacity-doubling expansion.
The players
Berlac
A Swiss-based company operating in the industrial coatings sector.
Vernici Caldart
An Italian manufacturer of industrial coatings with facilities in Bellusco and Pojana Maggiore.
Itago IV
A private equity fund that manages middle-market investments and divestments.
The details
The transaction combines Berlac’s Swiss operations with the Italian manufacturer's industrial coatings capacity. Operations will continue across the existing Bellusco and Pojana Maggiore sites, the latter of which recently doubled its production capacity. Berlac intends to leverage product synergies and technological expertise to improve market positioning.
Timeline
1946: Atlantic Industria Vernici, later acquired by Vernici Caldart, was founded.
May 2024: Itago IV acquired a majority stake in Vernici Caldart.
November 2025: Itago IV completed its divestment from Operamed.
September 2026: Berlac acquired Vernici Caldart.
Market Landscape
This deal follows the pattern set by Itago IV's November 2025 divestment of Operamed, marking the fund's third exit. It reflects a broader trend of private equity firms optimizing portfolio assets through strategic trade sales.
Operators should monitor how the integration of Atlantic Industria Vernici and Vernici Caldart affects competitive pricing in the industrial coatings segment. Assess your supply chain exposure to these production facilities for potential shifts in service lead times.
The takeaway
Strategic acquisitions often prioritize the scaling of specialized production capacity, such as the recent expansion at Pojana Maggiore. Track the post-acquisition integration for changes in product availability or shifts in technical support offerings for industrial clients.
Further reading
For more on industry consolidation trends, visit our Business Strategy section.
Source note: This article includes information reported by European Coatings.
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