Nem Sviluppo Imprese II, a private equity fund managed by Nord Est sgr (Gruppo Banca Popolare di Vicenza) and Idea Efficienza Energetica e sviluppo sostenibile, a private equity fund managed by Idea Capital Funds sgr, acquired for an investment of 12.5 million euros each a total 32 pct stake in Meta-Fin shareholders’ capital, a holding company of Meta System Group which in turn is the parent company of Meta System spa (download here the Italian press release).
Founded in 1973 in Reggio Emilia (Italy), Meta System specializes in research, development and production of advanced electronic security system for the automotive, motorcycle and energy markets. Meta System collaborates with the world’s leading vehicle and motorcycle manufacturers, for whom they develop and produce a wide range of products and active/passive electronic security systems as well as next-generation comfort solutions. In the energy sector, Meta System leads in the segment of modular and redundant Uninterruptible Power Supplies.
Meta System counts 700 employees, has seats and production units in Reggio Emilia and Mornago (Varese) and owns a 85 pct stake in Dolphin Technologies GmbH’s share capital, which is an Austrian company operating in insurance telematic services. The company operates at international level through subsidiaries in Europe, Asia and a worldwide capillary network of distributors.
Chaired by Germano Fanelli and led by ceo Giuseppe Simonazzi, Meta System is the same group which sold Octo Telematics to Charme II some years ago, Charme, a private equity fund managed by Montezemolo&Partners sgr, in turn sold Octo Telematics to Russian conglomerate Renova last February for an enterprise value of 400 million euros.
Nem and Idea were advised in the deal by Ashurst law firm, PwC and Roland Berger; while Meta System Group was supported by Carnelutti law firm.
Meta System reached 150 million euros in revenues in 2013 with 22 millions of ebitda and a net financial debt of 30 millions. Business Plan 2014-18 targets 300 millions of revenes in 5 years’ time, thanks to international expansion.