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.