Italy’s N&W Global Vending spa, a leading manufacturer of hot drinks and snacks vending machines, controlled by Lone Star fund, singed an agreement to buy control of Canadian Les Entreprises Cafection, a coffee machines manufacturer headquartered in Quebec City. The deal will be conducted though a newco which will buy 100% of Cafection. Actual unique shareholder and ceo of Cafection, François Baron, will reinvest in the newco with a 33% stake with N&W owning the remaining 67%.The deal will strenghen M&W in North America and is expected to close by the end of July. (see here the press release).
Founded in 1996, Cafection is the leading coffee machine manufacturer in the OCS (office coffee service) markert in North America.
Led by ceo Andrea Zocchi, N&W Global Vending is headquartered in Valbrembo (Bergamo), counts about 1.700 employees and reached 300 million euros in revenues in 2016, in line with 2015, when it had posted a 75 million euros ebitda.
The company tapped its 300 million euros first-lien 7% coupon bond last March. The company issued 70 million euros more of the bond maturing in October 2023 (see here a previous post by BeBeez).
