Rollon is a leading international manufacturer of medium‐precision linear bearings and actuators for applications in sectors such as railways, aeronautics, logistics, packaging, machine tools and medical equipment
Based in Vimercate, the company has its main operations in Germany and Italy, with over 250 employees worldwide, and generates 80% of its revenues abroad

Origination
IGI’s long-term relationship with the company’s CEO

Transaction Structure
IGI and Chequers Capital acquired Rollon through a Newco in an LBO led by the current CEO Eraldo Bianchessi
IGI initially invested €10.1 million through the funds IGI Investimenti Cinque for a 17.2% stake and €3 million through IGI Investimenti Cinque Parallel for a 5.1% stake
In Q2 2015 the IGI funds acquired a further 0.3% stake from a leaver manager for a price of €0.2 million raising the total investment to €13.3 million and the ownership to 22.6%

Investment Rationale
Leading market position in the medium-precision linear motion sector
Scope to become an important player in the industrial automation market
Outstanding management team and previous successful deal experience with the company’s CEO
Significant opportunity to develop the business outside Europe.
Market consolidation through acquisitions, exploiting the company’s worldwide distribution network

Value Creation Strategy
Strengthening of the S&M function and expansion into new foreign markets through the set up of new branches (opening of 3 branches in India, China, Japan)
Pushing investments to increase production capacity, strengthening the company’s industrial footprint
Completed the acquisition of Nuova Tecnocenter and Hegra in 2015, TMT in 2016 and T-Race in 2017
Upgrading of the internal reporting system to IGI standards.
Working capital management improvement and implementation of cash pooling policy

Value Realization
Exited in September 2018 through a sale to an industrial group.