San Marco Group Acquires Borma Wachs for Wood Coatings

San Marco Group has significantly expanded its footprint in the specialized wood coatings market through the complete acquisition of Borma Wachs. This strategic move, finalized on March 23, 2026, represents the eleventh acquisition for the Venice-based paint systems powerhouse and reinforces its standing as a prominent European player in the color and coatings sector. The transaction integrates a company with a rich heritage in professional wood finishing solutions into San Marco's growing portfolio.

Borma Wachs, established in 1928 and also based in the Venice region, brings a deep expertise in professional wood treatments, maintenance, and finishing. Its comprehensive product range covers eight distinct categories, including specialized offerings for retouching, restoration, gilding, and both interior and exterior decorative applications. Key product lines such as Borma Color, Borma Pro, and the environmentally focused ECO Premium range underscore the company's commitment to quality and innovation in wood care.

The integration of Borma Wachs, which reported a 2025 turnover of approximately €15 million with a substantial 75% derived from international markets, is expected to accelerate San Marco Group's global expansion. This acquisition aligns perfectly with San Marco's long-term industrial strategy, which prioritizes the enhancement of 'Made in Italy' excellence within high-value niche markets. The company aims to leverage Borma Wachs' established export channels and specialized know-how to further solidify its international presence.

Pietro Geremia, Chairman and CEO of San Marco Group, highlighted the strategic importance of this deal, stating, "The acquisition of Borma Wachs provides a distinct opportunity to amplify our international reach, leveraging 'Made in Italy' as a key differentiator in the promising wood coatings segment. We are committed to continuous growth through strategic investments in quality and specialization." This sentiment is echoed by the continued involvement of the Bortoluzzi family, with Marco Bortoluzzi retaining a key commercial role alongside his sister Sonia and son Alessio, ensuring continuity and the preservation of the brand's historical identity.

This latest acquisition follows a series of strategic international moves by San Marco Group. In 2024-2025, the company integrated Firenze Enterprises in the United States and Volimea GmbH & Cie. KG in Germany. More recently, in February 2026, Oikos was added to its portfolio. These acquisitions demonstrate a clear pattern of targeted expansion aimed at broadening its market reach and product diversification across key geographies and specialized segments within the coatings industry.

The combined entity is set to create a significant center of excellence, offering an enriched product catalog and a more robust competitive proposition. The wood coatings sector, a vital segment within the broader materials and chemicals industry, is experiencing steady growth driven by demand for sustainable and high-performance finishes in construction and furniture manufacturing. Borma Wachs' focus on professional-grade, specialized solutions positions it well within this dynamic market, which is projected to see continued expansion in the coming years.

San Marco Group concluded 2025 with impressive financial results, reporting a consolidated turnover of €127.3 million, a 4% increase year-over-year, and an EBITDA of €30.6 million. This financial strength provides a solid foundation for further strategic acquisitions and organic growth initiatives, underscoring the company's ambition to lead within the European coatings industry.