Private equity funds NB Renaissance and Alpha Private Equity, are said to have jointly admitted to exclusive talks with entrepreneur Rino Mastrotto in the auction to buy control of the eponymous Italian group specialized in the processing of leather for industrial use, on sale from the beginning of summer 2018 (see here a previous post by BeBeez), Il Sole 24 Ore reported.
The two funds were among those already indicated in recent months by market rumors as potentially interested in the dossier together with Ardian, Kkr and CVC Capital Partners. The latter could in fact think of an aggregation with Pasubio, of which he bought control in 2017 (see here a previous post by BeBeez).
The Rino Mastrotto group, which is valued at around 300 million euros, is based in Trissino (Vicenza) and is controlled by the entrepreneur of the same name. The group operates in the tanning and leather processing sector for the automotive, furniture and footwear sectors and ended 2018 with approximately 320 million euros in revenues and 45 million ebitda, after closing 2017 with approximately 299 million euros of revenues, an ebitda of 35.1 million and a net financial debt of 42.4 million (see here the analysis by Leanus after free registration and login).
In May 2017, the group issued a 12 million euros minibond to support the business plan to 2020, which envisages the expansion and reorganization of production plants as well as the expansion of the internationalization process, which aims at consolidating leadership with a particular focus on European markets. , American and Asian. The bond, maturing at the end of 2023 with an amortizing structure starting from 2020, was signed by a dozen subjects including foundations, pension funds and banks. The company’s arranger for the transaction had been Banca Finint.