Alchemco

Challenge

After a decade of owning and operating several businesses based in Rio de Janeiro, Brazil, Mario Baggio decided to move his newly started family to North America, to pursue the plentiful opportunities available there. The result was the formation of a new business venture named MBC North America, Inc. His initial entry into the North American market included forming ‘Alchemco’, which is a global manufacturer of award-winning concrete and masonry waterproofing products.

“One of the product lines we were selling was being manufactured here in the U.S.,” said Baggio. “When I moved to the U.S., my idea was to do the same things we were doing in Brazil, but to take advantage of the much larger markets here.”

In 2016, Mario Baggio moved his family to Richmond, Va., and a couple of years later Alchemco was formed. The first move was to acquire a U.S. based company named ‘TechCrete’, which in the mid-1970’s invented and began manufacturing the products Mario had been selling in Brazil through his company down there.

Competition

Alchemco had considered other cities such as Atlanta, Ga., Washington, D.C., Miami, Fla., and Boston, Mass. for expansion before deciding that Greater Richmond was the perfect home to headquarter its growing global operation.

Solution

Along with the Henrico County Economic Development Authority, GRP provided assistance with real estate search, secured visa documentation and connected the company to local networking opportunities.

Baggio ultimately chose Greater Richmond as Alchemco’s new home due to its affordability and the region’s family-friendly atmosphere.

“The reason why we moved to the U.S. in the first place was 100 percent a personal decision. It was not a business decision,” said Baggio. “My wife is a doctor. I had a successful business in Brazil. The reason why we moved to the West was to give our kids the opportunity to grow in the U.S. We were thinking about a place that we could them give this opportunity.”

An additional factor in Baggio’s decision was Greater Richmond’s location. The region offers many benefits for business owners, including access to more than 45 percent of the U.S. population within a day’s delivery drive and an average commute of 25.6 minutes.

“I was born in a big city in Brazil where I spent a lot of time commuting, sometimes four hours per day, going from our home to the office to a client and go back home,” said Baggio. “This was my challenge in Brazil. You leave the kids and you’re still zipping when you arrive back home.”

Results

An expansion of its global headquarters in 2019 accomplished the following:

• $5 million in capital investment
• 2,800 sq.ft. facility
• 17 employees are currently located at the Richmond office, with the remaining employees spread out across North America.

Alchemco sells its products in 75 countries and currently manufactures five product lines here in the U.S.: TechCrete, BridgeDECK, ACR, CretePRO and DuraTite; with the planned addition of a new line coming soon.