Bracchi, the transport and logistics company based in the province of Bergamo, has bought 100% of the share capital of Bas Group from a group of private shareholders.

Bracchi is the leader in the technical logistics for producers of elevators, escalators, agricultural and land moving machines as well as electromechanical components, pharmaceutical and cosmetic products. In 2017 its turnover was over € 90 million with a workforce of around 220 and 4 branches in Italy, Poland, Slovakia and Germany.

Bas Group is a logistics provider for the fashion and beverage industries through the companies Logistic net, Bas Sped, Bas Express and Il Corriere. In 2017 its turnover reached nearly € 30 million and its workforce numbered 150.

This acquisition, together with international expansion and continued growth of the client portfolio, means Bracchi can expect group turnover to reach € 130 million in 2018, strengthening its leadership in technical logistics and transport services in Europe.

Bracchi is controlled by IGI Private Equity through the funds IGI Investimenti Cinque and IGI Investimenti Cinque Parallel, together with the funds Siparex Mid Cap II and Siparex Investimenti 2, by the Annoni family and the company’s managers.

Matteo Cirla, Managing Director of IGI Private Equity and Chairman of Bracchi, says “We are proud to have contributed to the growth of Bracchi alongside the management team and the partners and we believe that the addition of Bas Group will generate even better results, thanks in particular to the excellent management team and their proven ability to provide their clients with an outstanding service. IGI Private Equity continues to invest in exceptional Italian companies and consolidate with targeted acquisitions. This strategy has guided investments of the fund IGI Investimenti Cinque and will continue with the new fund IGI Investimenti Sei currently being raised and with a € 150 million target.”

Bracchi was advised by the legal firm Chiomenti, represented by the attorneys Luca Liistro, Arnaldo Cremona and Andrea Ricci for the corporate aspects and by the attorneys Gregorio Consoli and Cosimo Paszkowski for the financial aspects.

Di Tanno e Associati were the fiscal advisors to Bracchi, represented by Ottavia Alfano, Marco Sandoli, Michele Babele and Mauro Pisano.

LABS Corporate Finance, led by Andrea Bruschi and Luca Spazzadeschi, and Gianesin, Canepari & Partners, with Nicola Gianesin and Fabio Mungai, were financial advisors to the sell side, while the law firm BM&A, represented by the attorneys Massimo Zappala, Alessandro Saran and Andrea Trabucco, provided legal advice.

The financing banks BPER and Banco BPM were advised by the law firm Dentons with a team led by Alessandro Fosco Fagotto with Counsel Edoardo Galeotti and trainee Giulia Caselli Maldonado.

KPMG, led by Matteo Contini, Goetze & Partners, represented by Giovanni Calia and Golder & Associati, represented by Guido Reyneri, together with Chiomenti and Di Tanno executed the due diligence surveys for the buy side.