France’s IPH Group, one of the leaders in European industrial supply, acquired a 50% stake in the capital of the Minetti Group, a leader of industrial distribution in Italy focused on bearings, linear motion, power transmission, automation, compressed air and tools (see here the press release).
This is the last of a series of acquisition IPH has been doing for over the past 10 years, aimining at consolidating the sector by attracting and acquiring a number of strong European players. Today IPH Group is present in particular in Germany via the brand Zitec, in France via its subsidiary Orexad, in the Netherlands via the brand Biesheuvel Techniek. IPH realizes a turnover of 928 million euros through more than 200 branches and has around 3500 employees.
Since February 2013 IPH Group has been controlled by PAI Partners private equity fund (see here the press release) who in turn bought out the group from Investcorp’s portfolio.
Founded in 1951, Minetti, which is headquartered in Bergamo (Northern Italy), reached almost 130 million euros in consolidated revenues in 2014. The group is controlled by the Minetti family and is now managed by Pietro and Marco Minetti, members of the second generation of the family, who will remain as managers of the company. The newly constituted IPH will account for more than one billions euros in sales and be present in six European markets.
IPH Group is supported by New Deal Advisors (financial advisors), Linklaters (legal advisors) and L2sv International as M&A advisor for this transaction. While Minetti Group is advised by PKF Corporate Finance and Gianni, Origoni, Grippo, Cappelli & Partners (legal advisor).
