The entrepreneur Vittorio Musso reinvests in the operation and will continue to hold the position of Group CEO managing the company with the support of his sons Filippo and Corrado. IGI Private Equity, with the support of Crédit Agricole Italia through Amundi Private Equity Italia and Banca Ifis as co-investors, will acquire control of the company.
IGI Private Equity, with the support of Crédit Agricole Italia through Amundi Private Equity Italia and Banca Ifis as co-investors, continues its investment strategy focused on the sustainable transition of family businesses by announcing the acquisition of a majority stake in Meter S.p.A.
Meter S.p.A., based in Robassomero (TO), is active in the production of custom ball bearings and rollers for special applications. Founded in 1980 by Vittorio Musso and managed by the Musso family, it has grown significantly over the years, opening branches in the United States, China and Germany, becoming a reference player in the sector and the global leader dedicated to the production of bearings and other mechanical components for the forklift segment. With a turnover of over € 70 million and 220 employees, the group aims to kickstart a further phase of strong development.
With this in mind, the Musso family, who will remain at the helm of the company and reinvest to retain 40% of the capital, have decided to open the shareholding structure to IGI and its co-investors. More specifically, the strategic plan envisages development both organically and through acquisitions, continuing to increase investments in production capacity and strengthening foreign subsidiaries. Flexibility, quality and technical skills make the company a stable, valued and award-winning supplier by its customers.
“We believe that Meter is a solid starting point, perfectly aligned with our investment strategy, for a project of growth and development. The Musso family has done an exceptional job in making the company one of the global reference players in its market. IGI is proud to be able to bring its experience and contribute to this new phase of evolution of the company,” said Andrea Bruschi, Partner of IGI Private Equity and Chairman of Meter.
“I have experienced and managed two successful generational transitions; with my uncle Ezio Mandelli when I started Meter at the age of 24 and then with my sons Filippo and Corrado, sharing a strong desire to continue progressing together. Operating in an increasingly competitive and complex world, also from a geopolitical point of view, needing and wanting to grow further while protecting our roots and all our stakeholders, in particular our employees, my family and I have decided to seize the opportunity offered to us by IGI. By re-investing together with the fund for a 40% stake in the company and remaining at the helm of Meter, we intend to pursue an ambitious growth project, through acquisitions, strengthening our international presence and consolidating the production structure in Italy and abroad.
After more than 40 years of growth, we must find all the opportunities to continue growing while remaining faithful to our long-standing values: customer orientation, reliability, quality, flexibility, and great …
Category Archives: Press Releases
OME acquires 100% of the German company Jungeblodt
The Jungeblodt brothers will reinvest to promote the integration of the two companies and enhance people and skills
IGI Private Equity continues its investment strategy focused on the sustainable transition of family businesses by announcing that OME S.r.l., one of its portfolio companies, has acquired 100% of Jungeblodt GmbH from Klemens and Heinrich Jungeblodt.
This historical company is an active competitor in the production of fastening systems for critical applications that has belonged to the Jungeblodt family for five generations. Headquartered in Warstein, (Germany), the company achieves a turnover of over € 30 million with good margins by selling its products both in Germany and abroad, including the USA and China.
As part of the transaction, the Jungeblodt brothers will reinvest part of the proceeds from the sale to promote the integration of the two companies and the enhancement of all the people and skills present in the two companies. In total, the group will have almost 400 employees spread over the production hubs of Erba, Cividate Camuno and Warstein.
OME S.r.l., acquired by IGI in 2021 from the three brothers Filippo, Diego and Carlo Farina, has been operating for over 70 years in the production of fastening systems for critical applications especially in the off-shore, marine and power generation sectors, where absolute reliability and product precision together with very stringent certifications of production processes are required.
OME has achieved significant organic growth since the entry of IGI, reaching a turnover of € 50 million with a margin of more than 20% and excellent cash generation. Thanks to this excellent performance, OME’s management team, led by Andrea Zuccarino, considers the integration with Jungeblodt an excellent opportunity for external growth, reaching new customers in markets not yet covered, expanding the product range and expanding the production capacity that the two companies can offer both in terms of quality and quantity. The goal of the two companies is to reach a turnover of € 100 million within a few years, while maintaining the extraordinary quality of the products and the ability to deliver special products with high technological content.
“This operation will allow the consolidation of the OME Group in the segment of critical fastening systems through the union of two historical production companies in the world’s leading countries for mechanical machining and the first in Europe in the production of steel,” says Andrea Zuccarino, CEO of OME.
OME was assisted in the transaction by Equita Mid Cap Advisory for M&A profiles with CEO Filippo Guicciardi, Andrea Dubini (Director) and Riccardo Zanasi (Associate). PWC followed the financial due diligence with Partner Giovanni Tinuper and Senior Manager Giuseppe Cerfeda. Flick Gocke Schaumburg carried out the legal and tax due diligence. Molinari Agostinelli was in charge of the structuring of the deal, with Partner Ottavia Alfano and Senior Associate Andrea Cristiani. ERM handled the EHS due diligence, with Partner Giovanni Aquaro and Director Marco Orecchia. BonelliErede acted on the legal and antitrust aspects of the transaction with a team led by Partner Giulia Bianchi Frangipane and composed of Managing Associate Marco Cislaghi …
IGI Private Equity acquires control of ThermoKey from Investo Uno
Entrepreneur Giuseppe Visentini reinvests in the transaction and will continue as Group CEO. Investo Uno, which sold its stake in ThermoKey, is headed by Berrier Capital, led by Alberto Craici, as well as entrepreneurs Giorgio and Giuseppe Visentini and Giuseppe Patriarca.
30 May 2024 – IGI Private Equity, with the support of LGT Capital Partners and BNP Paribas BNL Equity Investments as co-investors, will acquire control of ThermoKey S.p.A., a company based in Rivarotta (UD) founded in 1991 and active in the HVAC-R (Heating, Ventilation, Air Conditioning & Refrigeration) sector, producing air heat exchangers (coils and radiators) and ventilated units (Dry Coolers, Unit Coolers and Condensers) for over 30 years. The remaining 5% will be held by Giuseppe Visentini, who will continue to lead the group as CEO with the support of the existing management team.
Founded as a manufacturer of heat exchangers within a larger group ThermoKey became independent in 2013with the entry of new investors and entrepreneurs Giorgio and Giuseppe Visentini, and the latter’s appointment as CEO.It launched a development plan through the market launch of increasingly complex and efficient products, acting as a front runner on issues such as energy efficiency, circular and green economy, as well as technological evolution in line with legislative developments.
The company, which employs over 200 people, closed FY 2023 with consolidated revenues of approximately EUR 60 million, up 20% compared to the previous year, and an adjusted EBITDA of over EUR 8 million. Production is carried out in a single site of 32,000 square metres in Rivarotta (UD), in 3 production plants- in the main Italian HVAC-R district, and can count on a high level of support and know-how from the entire supply chain, as well as fromThermoKey Deutschland, a trading company based in Germany and 100% controlled by ThermoKey.
“In pursuing IGI’s strategy of investing in sustainable transition projects and the principle of the 3 Rs (Reduce, Re-use and Recycle) at the heart of the circular economy, we identified the HVAC-R sector as particularly interesting. I am convinced that ThermoKey represents an excellent investment opportunity; the vision that has guided the development of the business and the definition of its strategic direction has enabled the company to reduce both the consumption of its plants by increasing their efficiency and the amount of refrigerant gases, improving its carbon footprint. ThermoKey is also committed to making products that last longer, with intelligent design and use of recyclable materials” says Angelo Mastrandrea, Senior Partner at IGI Private Equity and Chairman of ThermoKey.
“In these ten years of management, we have worked hard to position ThermoKey among the reference companies in Europe in our sector, focusing on reliability, sustainability and innovation. I am delighted to continue leading the company, with my team, alongside IGI Private Equity, which shares and supports our commitment to designing and producing solutions that respect the environment and improve people’s quality of life. Sustainability and digitisation are, and will continue to be, our main growth drivers” says Giuseppe Visentini, CEO of ThermoKey.
“We reap the results …
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.