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 attention to social responsibility,” says Vittorio Musso, CEO of Meter.

Crédit Agricole Italia (acting as agent bank), BPER Banca S.p.A. and BNL BNP PARIBAS financed the acquisition of Meter S.p.A. by IGI as Mandated Lead Arranger. Crédit Agricole Italia decided to support the project by also making an equity investment alongside IGI, through the Amundi Private Equity Italia fund.

Banca Ifis, as part of its Corporate & Investment Banking (Equity Investment) business, which involves investments in minority funds and shareholdings, decided to co-invest in the project alongside IGI to support the group’s growth, in line with its mission of supporting Italian SMEs.

Green Arrow Capital SGR, through the Green Arrow Private Debt Fund II, made mezzanine financing available, confirming its interest in the company, already financed in 2020.

IGI Private Equity was assisted in the transaction by Euromerger Italia as Financial Advisor, with Partners Mauro Di Nunzio and Lorenzo Parolo and by Ethica Group with the Debt Advisory team coordinated by Federica Carcani. Chiomenti Law Firm assisted IGI with a multidisciplinary team: for the legal due diligence on the Italian office and the legal profiles of the transaction, a team led by Partner Luca Liistro and Of Counsel Arnaldo Cremona; for banking contracts and junior financing with Andrea Martino Counsel and Angelo de Michele Senior Associate.

Molinari was responsible for the structuring of the transaction and the Italian tax due diligence, with Partner Ottavia Alfano. Goetzpartners conducted the business due diligence with Managing Director Giovanni Calia and Partner Michele Zanin. KPMG carried out the financial due diligence, with a team led by Partner Lorenzo Brusa. ERM for EHS due diligence, with a team composed of Partner Giovanni Aquaro and Project Manager Marco Orecchia. Prometeia was responsible for ESG due diligence, with a team composed of Camilla Pacchiarini and Gianmatteo Guidetti.

Simmons & Simmons assisted the lending banks with a team coordinated by Counsel Alessandro Elisio and Partner Marco Palanca for tax aspects.

The Musso family was assisted for the M&A profiles by B&B di E. Bollini e C. with Partner Enrico Bollini di Predosa, Marco Ricci and Financial Advisor Cyril Martinez of Moon Rock Capital while for the contractual and corporate aspects of the transaction by RPLT Legalitax with a team led by Partners Riccardo Rossotto and Marco Gardino together with Simona Giordani; Giovanni Luppi for the finance aspects and Stefania Tiengo for the real estate aspects.

The notarial aspects of the sale were taken care of by the Ciro De Vivo Notary Office, with the intervention of the notary Ciro De Vivo.