Italian Wise fund and Biolchim’s managers buy Cifo and create a pole of fertilizers

Italian mid market private equity operator WIse sgr, through its fund Wisequity III, bought Cifo spa, adding it to Biolchim, another portfolio company active in the fertilizers sector. The deal will create a pole of fertilizers with 75 million euros of revenues in 2013  (download here the press release). More in detail, Wise bought 100 pct of Cifo spa shareholders capital together with Biolchim’s ceo, Leonardo Valenti, and the rest of the management team of Biolchim

Founded and led by Romano Ghedini, with headquarter in Bologna, Cifo è is an historical brand of special fertilizers sector for both professional agriculture and home&Garden segments. Cifo closed 2013 with 28 million euros of revenues.

The deal has been financed both with equity (from Wise and Biolchim’s managers) and with debt provided by Unicredit bank.

Wise and the managers have been supported by  Simmons&Simmons law firm, by Studio Spadacini i on fiscal issues, by Lab Analysis for the due diligence and by Fineurop Soditic as financial advisor. Legal advisor for the sellers where studio Zanotti , while Unicredit was supported by Studio Pedersoli law firm.

Wise acquired Biolchim in november 2012 from Imi Fondi Chiusi, Assietta Private Equity and Arca Impresa Gestioni private equity operators (download here the press release). Biolchim’s management team owns around 10pct of the company’s capital.

With this last acquisition, Wisequity III,  which in 2011 raised 180 million euros of committements,  is not invested for a 50 pct.