Epta spa, Italy’s international leader in refrigerating products for Gdo, announced it had acquired three foreign partner companies active in distribution, installation and services providing to retail, food&beverage and Ho.re.ca sectors. The companies have been acquired in the last few months: Libre in Poland, King Richard Shop System in the Philipines and Portanuova in Cile and Peru (see here the press release).
The three acquisitions come after that the group had acquired in July 2015 Danish Knudsen Køling, active in designing, installation and maintainment of ready-to-use systems for refrigeration (see here a previous post by BeBeez). Previously the group had bought UK based Cold Service in 2014 and Italy’s Iarp (owned by the Triglio Godino family) in 2013.
Marco Nocivelli, Epta’s chairman and ceo, explained that thanks to these three acquisitions will help the group to reach its target of one billion euros revenues and double digit ebitda by the end of 2020.
Epta, which is controlled by the Nocivelli family, with a 20% stake owned by the Triglio Godino family, reached 814 million euros in revenues in 2016 (from 767 millions in 2015), a 57.7 million euros ebitda (from 43.3 millions), a 37.6 million euros net profit (from 29 millions) and a net financial debt of 84.8 million euros (see here the press release).
In March 2016 Epta issued a 20 million euros bond maturing in 2023 and paying a 2.3% fixed coupon which was subscribed in a private placement by US insurance group Prudential through its investment veichle Pricoa Capital Group. The deal was included in the framework of a so-called “shelf agreement”, giving the issuer the right to sell Pricoa more bonds till a maximum value of 120 million dollars or an euros equivalent (see here a previous post by BeBeez).