Tramec acquires 100% of Varmec, a Vicenza-based company active in the production of gearboxes and variable speed drives

Tramec S.r.l., a company based in Calderara di Reno (near Bologna) active in the design, production and marketing of gearboxes, led by CEO Leo Girotti and in the portfolio of IGI Investimenti Sei since June 2021, continues its consolidation plan with the support of IGI for the creation of an outstanding Italian player in the motion control sector.
Following the acquisition of MT Motori Elettrici and Bermar, Tramec has made a third add-on, Varmec S.r.l. based in Thiene (near Vicenza), having held a minority stake since 2000.
With the acquisition of Varmec, the Tramec Group aims to reach a turnover of € 70 million, the basis for further expansion, both internally and through acquisitions, expected in the coming years.
Varmec has been active since 1980 in the production of helical gearboxes, pendulum gearboxes, mechanical and belt variable speed drives and in the production of direct current electric motors.
Varmec’s product range is well suited to the Tramec group, allowing a further step towards the group’s strategic evolution from a supplier of products (gearboxes) to become a complete and integrated market leader in motion control.
Waldi Franzon will remain at the helm of Varmec, flanked by Leo Girotti (CEO of Tramec), with the aim of ensuring continuity in relations as well as integration with Tramec.
Leo Girotti commented on the acquisition: “I am very pleased to confirm and further consolidate Varmec’s role in the Tramec family.  By acquiring control, we intend to support the company in its future development, aiming for product, commercial and organizational synergies with the rest of the group.”
Waldi Franzon added: “I think it’s an important step for Varmec. Becoming part of a solid, important group recognized by the international market can only create new synergies that will certainly give impetus to new projects for common growth.”
IGI is active in the management of private equity funds specialized in investments in small and medium-sized Italian industrial manufacturing companies through majority transactions. The Tramec Group is the fourth investment of the IGI investimenti Sei fund, for which IGI has raised €170 million.
Cerina Studio Legale provided legal support for Tramec on the deal.

Argos Climate Action Fund acquires Bracchi

Argos Climate Action Fund acquires Bracchi, a leading company in the transport and logistics sector in Italy. Anima Alternative SGR, Clessidra Capital Credit SGR and the Management co-investors.
The goal is to position Bracchi at the forefront of the sector in terms of offering a green alternative, implementing a clear decarbonization strategy.
Argos Climate Action, a buyout fund focused on the decarbonisation of European SMEs, aims for a CO2 intensity reduction target of 7.5% per year and a direct alignment of the team’s incentives with environmental performance.
Following the announcement of the first closing at the beginning of September, Argos Climate Action, the first European “Grey to Green” buyout fund, today announces its entry into Bracchi, a leader in freight transport and logistics, with a majority stake. The transaction was carried out with the co-investment of Anima Alternative SGR, Clessidra Capital Credit SGR and the Management. The company was acquired from the funds IGI Investimenti Cinque and Siparex.
Founded as a local Italian transport company, Bracchi is now one of the most important logistics and transport operators in Europe, managing tailor-made services in highly specialized niche sectors such as elevators, agricultural equipment and luxury brands. The company is a point of reference for all customers who want to make use of a single interlocutor for any logistical and distribution needs in Italy, Europe and around the world. Bracchi has 650 employees and in 2022 generated a turnover of over € 180 million operating from 7 regional offices and 11 hubs in Europe, while a closure of about € 200 million is expected for 2023.
The Business Plan for the coming years is to expand geographical coverage, acquire new technical know-how in other special logistics niches and expand the customer base. In keeping with the Fund’s mission, which is central to the investment logic and value creation, is the ambitious plan to decarbonise operations, aiming to halve the intensity of CO2 emissions over five years in the Scope 1, 2 and 3 areas.
Supported by the management’s strong desire to initiate an environmental transition, the plan is demand-driven as Bracchi’s main customers are already accelerating the decarbonization of their supply chain upstream and downstream.  It is supported by validated technical solutions in a sector with such a high carbon impact and is based on innovative partnerships related to biofuel procurement.
The new Board of Directors will be chaired by Paolo Scaroni, who will lead the company on its decarbonization path with a strategic focus on innovative biofuels and other sustainable mobility systems.
The transaction was structured with a mix of equity (underwritten by Argos Climate Action Fund, Anima Alternative 1, Clessidra Private Debt Fund), junior financing (provided by Anima Alternative 1 and Clessidra Private Debt Fund) and senior financing provided by BNL and BancoBPM. This is the first milestone in the strategy to extend the Argos Wityu platform beyond the historic mid-market funds. Supported by public institutions, institutional investors and Family Offices, all with deep convictions on the need to actively contribute to climate change mitigation without compromising …

IGI Private Equity and Prometeia, agreement to assess the exposure of the investment portfolio to climate change risk

Milan, 13 November 2023 – IGI Private Equity, an independent asset management company specializing in capital investments in small and medium-sized Italian companies, has launched a project with Prometeia – a leading consulting firm that has been active in the field of sustainability and private markets for years with a dedicated team – to assess the exposure of its investment portfolio to climate risks.
The agreement stems from IGI’s desire to respond to the growing attention at national and European level to the integration of ESG risks, in particular those related to climate and the environment, into the strategic and operational model of financial operators. IGI, which has already incorporated ESG analyses into its investment process with the help of Prometeia, has therefore decided to extend the assessment of its portfolio companies to climate risks, both in the due diligence phase and through periodic monitoring.
On the strength of the expertise gained in sector and real estate analysis, Prometeia applies an articulated and complete model for climate risk assessment to the asset management sector, in particular to the world of investments in private assets.
The model makes it possible to assess exposure to climate risks both at the individual company level and at the aggregate portfolio level based on various future scenarios. The model takes into account the impacts of both transition and physical risk. On the one hand, the risks associated with a transition to an economy with a lower environmental impact on the balance sheet of the portfolio companies are analyzed, and on the other, the exposure of the companies’ buildings to the increase in size and frequency of environmental risks such as floods, fires and landslides.
The presence of a solid ESG data collection framework has allowed IGI to correlate the specific data of the individual companies in relation to the emissions and energy consumption profile within the climate risk assessment model. This also makes it possible to assess their positioning within the reference sector and in many cases to estimate the best positioning of the same companies compared to the sector benchmark.
Matteo Cirla, Chief Executive Officer and Head of Sustainability at IGI Private Equity said: “IGI has put considerable effort into integrating sustainability factors into its investment processes but recognizes that the environmental and climate challenges we face are constantly evolving. The growth in the collaboration with Prometeia represents an important step in this direction, allowing us to gain a better understanding of the climate risks which our portfolio is exposed to and to manage them appropriately. At IGI we are aware that we play an important leadership role in the transition of the companies which we invest in, not only in terms of size and organization, but also in support on the path of sustainability. We believe that understanding potential climate impacts makes us more informed and responsible investors.”
Claudio Bocci, Partner at Prometeia and Head of Asset Management, commented: “The issue of climate change risk is becoming increasingly central to the European regulator’s agenda and institutional investors’ attention to …

IGI Private Equity sells Nuovaplast to Valgroup

The IGI Investimenti Sei Fund (IGI Private Equity) has sold Nuovaplast to Valgroup, the holding company of a group that has been active in the virgin and recycled polymers industry for over 45 years and has a turnover of around USD 1.5 billion. Today Valgroup is one of the largest producers, processors and recyclers of polymers, with operations in Brazil, Spain, the United States, Mexico and Uruguay.
In January 2019, IGI Private Equity acquired control of Nuovaplast, a company based in Villa Lempa (Teramo) and active in the production of PET preforms for the mineral water, oil, milk, detergent and personal care sectors. Entrepreneur Roberto Tomasoni, the previous owner, and Equilybra S.p.A. participated in the transaction as minority shareholders.
In recent years, the IGI fund has pursued a process of business development aimed at consolidating the company’s leadership position in the market, expanding production capacity, and maintaining technological and automation leadership through major investments.
The fund has strategically integrated Nuovaplast upstream in the value chain thanks to the new plant for the production of recycled PET from post-consumer bottle flakes through a new company called 3R, and has carried out the generational transition from the entrepreneur Tomasoni thanks to the progressive managerialisation of the company.
In 2022, Nuovaplast expects to close the year with a turnover of more than 90 million euro and an Ebitda of around 15%.
Valgroup, a Luxembourg-based holding company, converts over 600,000 tonnes per year of virgin resins into rigid and flexible plastic packaging and over 100,000 tonnes of post-consumer recycled plastic.
Most of Valgroup’s activities are located in Brazil; its presence in Europe is marginal (in Spain) and limited to recycled PET resins.
“With Nuovaplast we have accomplished, among many others, two fundamental objectives of our investment strategy: the management of the generational transition in the company with the entry of a team of capable managers and the implementation of a circular economy project with the investment in the subsidiary 3R, which allows the Nuovaplast group to internalise the production of R-PET (recycled PET) starting from post-consumer bottle flakes,” says Angelo Mastrandrea, partner of IGI Private Equity, “Thanks to the work done, we have sold Valgroup a market-leading company with a solid management team and a clear green vocation.”
“With this transaction we want to diversify the group’s core business, also geographically by expanding our presence in Europe,” says Luigi Geronimi, President of Valgroup, “The acquisition of Nuovaplast will allow us to enter a new market with an already well-established position and the development of synergistic relationships with the main suppliers and customers in the sector, and achieving economies of scale.”
IGI was assisted in the sale by Mediobanca, financial advisor for the transaction, with a team including Andrea Sorci, Magda Pellecchia and Eleonora Candeo; LABS Corporate Finance, advisor for the structuring of the transaction, with Luca Spazzadeschi and Elena Giacomelli; Studio Legale Chiomenti, for the legal part, with partner Luca Liistro, Arnaldo Cremona, Maria Laura Zucchini and Carola Dalla Riva; KPMG supported the company on the financial due diligence with partner Lorenzo Brusa …

Test Industry acquires TS TestingService GmbH and TS GiM GmbH

With these two acquisitions, the group’s turnover aims at 50 million euros
Test Industry, a company in the portfolio of the fund IGI Investimenti Sei, enters the German market by acquiring 100% of two companies: TS TestingService and TS Gim GmbH, both of the group TS Group GmbH.
With this double operation, Test Industry is increasingly a point of reference in the international market for the design and production of test benches for industrial, end-of-line and laboratory testing, with particular focus on the hydraulics, mechanics, automotive and aerospace sectors.
In addition, thanks to the two acquisitions, the group’s turnover will be upwards of 50 million euros, compared to about 35 million made in 2021, as well as consolidating the strategic value of the group in automotive and aerospace testing: the test benches for transmission shafts, the core business of TS GiM, will expand the Bimal product range, while the wheel and tyre test benches, the core business of TS TestingService, will reinforce and integrate the Leonardo product line positioning.
The transaction will also enhance the levels of Service and After-Sales offered by the Test Industry group to German customers, as well as strengthening the commercial presence in the Far East, in particular China, India and South Korea.
“The double acquisition will allow Test Industry to grow internationally and establish itself in new European markets” said CEO Paolo Mastrostefano. “Now we can focus on a greater reinforcement and organization of management so as to adequately support the company’s growth path”.
“The IGI fund, with the support of all the financial and industrial shareholders of the group, has always believed in the growth and enhancement of the company because it considers Test Industry as having the perfect know-how to become an Italian excellence abroad” commented Angelo Mastrandrea partner of IGI Private Equity and Group president. “Now the goal is to consolidate results and continue on the path of further growth, both internally and through new acquisitions”.

Tramec (IGI) acquires 100% of Bermar, a Bologna-based company active in the business of electric motors and inverters

Tramec S.r.l., a company based in Calderara di Reno (BO) and active in the design, production and marketing of gearboxes, led by CEO Leo Girotti, in the portfolio of IGI Private Equity since June this year, accelerates the buy and build process supported by IGI for the creation of an integrated Italian excellence in the motion control sector.
After the acquisition of MT electric motors, Tramec has realized its second add-on, Bermar S.r.l. of San Vincenzo di Galliera.
With this operation, Tramec Group is aiming at a turnover of 60 million Euros, the basis for further development, both internally and through acquisitions, planned for the coming years. The newly acquired company from Bologna employs about 25 people and has a turnover of about 10 million Euros, a significant part of which is achieved abroad.
Bermar has been active since 1969 in the production of asynchronous electric motors, including self-braking motors, and in the marketing of imported motors. The company distributes and customises inverters mainly for sectors such as marble processing, oenology, packaging and industrial machinery. Its capital is wholly owned, directly and indirectly in equal parts, by the two partners Sergio Cavazza and Walter Bertelli, who will support Tramec in the process of integrating the company into the group and in its organisational evolution.
Bermar’s production is well matched to that of the Tramec Group, allowing a further step towards its strategic evolution from a supplier of products (gearboxes) to a complete and integrated market leader for motion control.
IGI Private Equity is active in the management of PE funds specialising in investments in small and medium-sized Italian manufacturing companies through majority ownership transactions. The Tramec Group is the fourth investment of the fund IGI investimenti Sei for which IGI has raised 170 million Euros.
Angelo Mastrandrea, Andrea Bruschi, Alessandro Castiglioni and Anna Paola Schinaia from the IGI team worked on the deal.
On the corporate side of the Tramec deal, the following were involved: EY for financial due diligence; Cerina Studio Legale for legal support and legal due diligence; Di Tanno Associati for tax support and tax due diligence.
On the deal for Tramec on the banking side, the following were involved: Bper Banca as agent bank, Credit-Agricole Italia, the law firm Dentons and Simmons & Simmons.
BLF Studio Legale was involved in the deal for the sellers of Bermar in the persons of Pier Luigi Morara, Giuseppe Forni and Andrea Corbelli.

IGI Private Equity acquires 75% of Tramec, the leading producer of gearboxes

IGI Private Equity has acquired Tramec S.r.l., based in Calderara di Reno (Bologna), which designs, produces, and distributes gearboxes for industrial applications used in such sectors as automation, packaging, pharmaceutical, agricultural, food & beverage (for which a special antiseptic product has been developed), chemical/plastics, marine, mineral and others.
The share capital was held in equal parts by the founding partners Leo Girotti and Stefano Domenichini, the former serving as Managing Director overseeing the sales division, the latter with responsibility for production and product development. IGI Private Equity has bought 75% of the share capital, while Mr Girotti has reinvested in the transaction with a 25% stake.
The company employs around 130 people and has reached sales of € 30 million, a large part of which is generated abroad. The production of above 130,000 pieces a year is sold in over 70 countries, with Europe accounting for 90% of turnover abroad, while 50% of total sales are in Italy.
Tramec invests around 5,000 hours annually in R&D, developing specific projects for customers, product upgrades and innovations, for example the new line of GHA gearboxes targeting the food sector, with a patented surface treatment of the alloys, specific processing and an innovative layout which create an antibacterial surface, high resistance to corrosion, high thermal conductivity and high surface hardness.
With this deal, the fund IGI Investimenti Sei intends to implement a clear buy & build strategy, aiming to acquire other companies in the motion control segment with the objective of creating a top integrated player in the sector.
At the same time as the closing of the transaction, the first add-on acquisition was finalised; MT Motori Elettrici S.r.l., owned by Virgilio Rende, based in San Giovanni in Persiceto (Bologna), near Tramec, focused on the production of tri-phase and monophase electric motors with or without integrated brakes and motorized drums.  MT has 38 employees and generates sales of € 12 million, showing steady growth in the past few years.
“Tramec is a leading Italian manufacturer, well-known for the quality of its products, high level of customer service and significant investments in R&D.  We are strongly convinced that the company has margins for growth and will be the platform for consolidation in the sector” says Angelo Mastrandrea, Partner of IGI Private Equity. “As such, our objective is to work together with Leo Girotti to create a centre of excellence for motion control and lay the foundations for a smooth organisational transition.”
“Tramec is a first-generation company; this new step, coming 35 years after the founding of the activity, is the start of a new journey which we undertake with enthusiasm” says Leo Girotti.  “With IGI we have set ambitious targets which can be reached thanks to the financial resources and managerial skills made available.”
IGI manages private equity funds specialized in investing in small and mid-cap Italian industrial manufacturers through buyout transactions.  Tramec is the fourth investment by the fund IGI Investimenti Sei which has € 170 million in raised funds.
Angelo Mastrandrea, Andrea Bruschi, Alessandro Castiglioni and Anna Paola Schinaia from the …

IGI Private Equity buys the majority of OME Metallurgica Erbese

The independent private equity firm, IGI Private Equity has acquired 73% of OME Metallurgica Erbese, Stampinox and Hexagonal, a leading producer of fasteners for the Oil & Gas and Power Generation sectors.  The Farina family keeps a minority stake through the family holding Anirafa and will remain part of the management of the group, supporting the ambitious business development plan which foresees strengthening the management team and exploring opportunities for external growth.
Established in 1949 by Cavaliere Vincenzo Farina (father of the current shareholders Diego, Carlo and Filippo), the OME group produces fasteners for customized applications in the Oil & Gas and Power Generation sectors.  Thanks to the entry of IGI as shareholder, the group will continue to grow, penetrating new markets and promoting new applications of its products in other sectors such as aeronautics.  The group closed 2020 with a turnover of approx. € 45 million and an EBITDA of 20%.
IGI is a private equity firm specialized in investing in small and mid-cap investments in Italian companies through buyout operations.  The investment in OME is the third for the fund IGI Investimenti Sei which has € 170 million in raised funds.
The Farina brothers announced “We are very satisfied and enthusiastic about this operation which will guarantee the growth of the company with a new shareholder with whom we have outlined opportunities for future development.  We share the same roots and such values as dedication to work and striving for continuous improvement.  Throughout the management changeover, the Farina family intends to remain active in the operations of the company.”
Matteo Cirla, MD of IGI Private Equity, commented “We are honoured to be the new partners of the OME group and to work with the Farina family and all the employees for the future of the company.  The investment in OME is perfectly in line with the investment strategy of the fund IGI Investimenti Sei to facilitate management transition and to expand international presence through possible future acquisitions.
The shareholders of OME were assisted by the financial advisors Equita K Finance, while legal and fiscal assistance were provided by NCTM, Studio Sala and Studio Porta.
IGI had financial assistance from PwC and legal assistance from Molinari e Associati, while Leoni Corporate Advisors provided the business due diligence, Di Tanno e Associati for the fiscal due diligence, Golder Associates for the environmental due diligence, Prometeia Advisor SIM for the ESG due diligence and Kilpatrick for the human resources report.
The financing of the operation was structured by Banca Intesa, as the agent bank, BPER Banca and Credit Agricole with legal assistance from Dentons.

Bracchi acquires Peterlini and expands its services in the special transport sector

Peterlini, based near Parma and operating in heavy machinery transportation since 1967, has joined the Bracchi group.  Bracchi is one of the leading European operators in the high added-value logistics and transport sector, including special transport, with a particular focus on the elevators, agricultural machines, cosmetics, fashion and beverages segments.  Bracchi operates not only in Italy but also through 3 hubs in Poland, Germany and Slovakia and employs around 600 people.  The company, in the portfolio of the fund IGI Investimenti Cinque, saw a turnover of nearly € 140 million in 2019 and this latest acquisition forms part of the growth path to become a major European player in logistics and transport.  Peterlini was sold by the brothers Cristian and Enrico Mavilla, who will continue to manage the business line within the Bracchi group, as well as Nerella Peterlini.
“The IGI fund invested in Bracchi convinced of the strategic value of its operations” said Matteo Cirla, Chairman of Bracchi and Managing Partner of IGI Private Equity.  “The growth of the company even during the pandemic is proof of this.  With Peterlini we will continue to build a major logistics and transport hub to create a leader not only in Italy but also abroad.”
Lorenzo Annoni, CEO of Bracchi declared “I’m very pleased to welcome Cristian and Enrico Mavilla into the Bracchi family; they will continue to direct the heavy loads division and their experience will enrich the know-how and expertise of the group.”
Nerella Peterlini, Cristian and Enrico Mavilla, stated “We are proud to be here at this historical and significant moment and thank everyone for the respect and trust shown.  This step represents the continuation and expansion of a project founded on the passion of its founders Fabio Mavilla and Nerella Peterlini.”
Bracchi was assisted by: Mazar for the financial and fiscal due diligence, Pavia e Ansaldo for the legal due diligence and legal assistance and PwC as debt advisor.
The sellers were assisted by: Cross Border as financial advisors, Fabrizio Ferri of the law firm Carra Lori Ferri for legal assistance, Studio Costa for fiscal and accounting assistance.

Fimo is sold to Wise Equity

Wise Equity announces that its closed-end Wise Equity V Fund has acquired Fi.Mo.Tec S.p.A. from IGI Private Equity – manager of the IGI Investimenti Cinque and Cinque Parallel funds.
Fi.Mo.Tec, headquartered in Cologno Monzese (MI), is the European leader in components (particularly cable fastening systems) and systems for mobile telecommunications infrastructure. The Group prides itself on an eighty-year history of success distinguished by its deep commitment to place its innovative know-how and technologically advanced products at the service of its clients.
The Group has a widespread international presence, with its headquarters and production plants in Italy, France and India and commercial and logistics sites in Germany and the United States. generates approximately Euro 33 million in revenues, more than 80% of which derive from international markets.
Management of the group will continue to be led by Luca Tamberi, currently the CEO and a shareholder.
The acquisition was overseen for Wise Equity by Stefano Ghetti, Partner and Bruno Barago, Investment Manager and for IGI Private Equity by the Managing Partner Matteo Cirla, the Partner Angelo Mastrandrea and the Investment Manager Cristian Cantaluppi, who has covered the role of CFO in the company for over two years.
Stefano Ghetti, Senior Partner at Wise Equity, said “Fi.Mo.Tec is an example of Italian excellence – a company that enjoys a competitive position of absolute leadership in Europe with a significant and growing presence in the United States. It is one of those rare cases in which a product is so well known and successful that it is referred to by the company name.
Our objective, together with the management team, is to continue along the growth path started in recent years, to develop in markets where the company’s presence is still limited (as in the United States) and to invest in complementary products. The company has, in fact, developed significant expertise in the world of concealing and passive subsystems that we will reinforce, including through selected acquisitions.”
Matteo Cirla, CEO and Managing Partner of IGI Private Equity, stated “We are very happy with the work done in Fi.Mo.Tec and we thank all the group’s employees and collaborators for their extraordinary commitment. From the time of the acquisition of 100% of the share capital to today, the company has grown 70% in terms of revenues and 57% in terms of gross operating margin after having almost completely repaid the acquisition financing.
The investment in Fi.Mo.Tec is an excellent example of IGI Private Equity’s strategy: we acquired an excellent company from family owners and invested significantly in human capital and acquisitions, rationalizing the entire organization and the company’s procedures. Thanks to this clear strategy, we leave a group that is a leader in its reference sector, has an excellent management team and solid strategic and competitive positioning.”
Luca Tamberi, current and future Fi.Mo.Tec CEO declared “We are very happy to be able to continue with Wise Equity along the growth path started with IGI and aim to further position ourselves as one of the leading actors in the telecommunications and data connection sectors.
In the …

IGI Investimenti Sei acquires Test Industry leading producer of industrial testing machinery

The fund IGI Investimenti Sei, managed by IGI Private Equity, together with Equilybra Spa e GMN Srl has bought the majority of Test Industry Srl, the technological leader in the production of test benches for leak, impulse, endurance, burst, functional and dimensional control tests on industrial products. The original management have reinvested to retain a minority share.
Following the operation, the investment vehicle Thalia Srl, with the shareholders IGI Investimenti Sei and Eraldo Bianchessi, who will support IGI Private Equity in managing the investment, holds around 42% of the share capital of Test Industry, Equilybra and GMN (the investment vehicle of F&P$BIZ Srl and Route Capital Srl) together hold 41% (18% and 23% respectively), while the management have a 17% share.
Test Industry, through its two subsidiaries Leonardo, based in Maclodio (Brescia), and Bimal, based in Perugia, generated a total turnover of over € 31 million in 2018 with an EBITDA margin of over 20%.  The group has 122 employees and for more than 30 years it has serviced the most important operators in the automotive and aerospace industries, the industrial, construction and agricultural machinery sectors, as well as oil and gas.
IGI Private Equity is investing in Test Industry with the other partners to support its plans for integration and development, above all through further acquisitions, with the objective of consolidating its position as market leader and to become one of the principal global players in the sector.  Angelo Mastrandrea, Partner of IGI Private Equity, will take the role of Chairman with Daniel Spezzaballi and Roberto Malfagia as Managing Directors.
This operation is the second investment for IGI Investimenti Sei, the buyout fund launched in October 2018 with a fundraising target of € 150 million.  The fund, which has already made its first closing at € 100 million and expects to carry out the second closing after the summer break, confirms the IGI strategy of investing in outstanding Italian producers to strengthen their organizational structure and boost growth, in particular through acquisitions, as already seen with other operations such as  Rollon, Gruppo Fabbri Vignola, Vimec, Fimotec and Nuovaplast.
Angelo Mastrandrea, Partner of IGI Private Equity, comments “Rapid technological evolution and the continual pursuit of performance throughout the manufacturing sectors makes the testing industry all the more strategic in order to reduce the growing costs of non-conformity and untested quality.  We believe that Test Industry represents the best platform for investing in this long-term structural trend and is the pivot for a global consolidation process.”
Matteo Cirla, MD of IGI Private Equity, says “I’m very pleased to announce this new investment in Test Industry, one of the many outstanding Italian producers which IGI has invested in, led with great passion and vision by the entrepreneurs Daniel Spezzaballi e Roberto Malfagia.  We are very satisfied with this second investment coming a few months after the first in Nuovaplast and we expect the second closing of the fund within weeks which will allow us to continue offering an interesting risk-return profile.”
Daniel Spezzaballi, MD of Test Industry, adds “The …

IGI Investimenti Sei acquires Nuovaplast, market leader in the transformation of PET

The fund IGI Investimenti Sei, managed by IGI Private Equity, has completed the acquisition of the majority of Nuovaplast S.r.l., market leader in the transformation of PET for the production of high quality preforms using high efficiency and fully automated technology.
Following the operation, the investment vehicle Clio S.r.l., controlled by IGI Investimenti Sei, owns 74.7% of the share capital of Nuovaplast while the sell-side shareholder has maintained a stake of 25.3%.
Nuovaplast, based in Villa Lempa in the Abruzzi region with a workforce of 45 employees, has more than 20 years’ experience working with the mineral water, oil, milk, detergent and cosmetics industries.  Turnover in 2018 was over € 50 million.
IGI Private Equity is investing in Nuovaplast to support its plans for growth, including add-on acquisitions, as well as to accelerate the development the company has pursued in recent years.  The agreement sees Angelo Mastrandrea, Partner of IGI Private Equity, taking the reins as Chairman of the company.
The operation is the first investment made by IGI Investment Sei, the buyout fund launched in October 2018 with a € 150 million target.  The fund, which has already completed the first closing at € 100 million, pursues the same strategy of investing in leading Italian firms to support their consolidation and expansion as already seen with other IGI fund investments such as Rollon, Gruppo Fabbri Vignola and Vimec.
Matteo Cirla, MD of IGI Private Equity, has said, “We are very pleased to announce the new investment in Nuovaplast, an Italian leader managed with great vision by the entrepreneur Roberto Tomasoni.  We are also proud to have made the first investment within a few months of the launch of the new fund, IGI Sei.”
Angelo Mastrandrea adds, “Nuovaplast represents one of the best opportunities in the sector to grasp the future challenge which the PET preform sector poses for the circular economy, increasingly ecological and environmentally friendly.  The major investments made by the company in recent years make it a reference in the market and represent a solid basis for the expected future development.”
Roberto Tomasoni has said, “We are proud that IGI believes in Nuovaplast and has decided to support the business initiatives which will guarantee reaching new and challenging targets, building on what has been achieved to date.”
The fund IGI Investimenti Sei had legal assistance from Chiomenti, Di Tanno e Associati, DV Studio Legale and Golder provided due diligence, while the business analysis was provided by Goetz Partners.
The sell side had financial assistance from PwC Deals and PwC TLS were the legal and fiscal advisors.
The operation was financially assisted by Banca IFIS, Crédit Agricole and BPER Banca.