Italy’s private equity weekly roundup. News from Lincotek, DGM, DPOBank, Renovit, PeakRock, Muzinich and more

The Equity Club (TEC), the club deal that Mediobanca Private Banking launched, acquired 24% of Lincotek, a producer of components for orthopaedic prostheses or thermoresistant materials for increase the lif enad resistance of gas turbines for the aviation industry (see here a previous post by BeBeez). The Antolotti Family will keep a controlling stake of Lincotek which will have more than 200 million euros for making acquisitions. TEC subscribed a capital increase of 100 million. Nelso Antolotti leads Lincotek wich has sales of 160 million and an ebitda in the region of 20%.  

Swedish-listed Atlas Copco, a provider of solutions for the industrial productivity, acquired Italy’s DGM, a distributor of compressed air equipment (see here a previous post by BeBeez). In May 2019, Atlas Copco acquired Eurochiller, a producer of refrigeration systems. Bravo Capital Partners, Giovanni Orio, Ugo Varisco, and Cesare Barbè sold the asset. In January 2016, Atlas acquired Fiac, a producer of compressors, from the Lucchi Family.  

On 28 January, Thursday, the board of directors of Milan-listed Banca Farmafactoring, an asset whose controlling shareholder is private equity Centerbridge, gave its approval for the merger of DEPOBank (see here a previous post by BeBeez). The buyer rebranded itself as BFF Bank (BFF) while its controlling group’s new name is BFF Banking Group. In May 2020, BFF signed an agreement for acquiring 76% of DEPObank from Advent International, Bain Capital and Clessidra. The fund swapped a 15% of DEPObank for a 7.6% of BFF Banking group.  

Cdp Equity acquired 30% of Snam4Efficiency, an Italian developer of energy efficiency solutions, and rebranded it as Renovit (see here a previous post by BeBeez). The target’s enterprise value is of 150 million euros. 

Sweden’s listed investment company Lifco acquired the majority of MultiOne, a producer of equipments for the sectors of gardening, farming and agriculture, and integrated the company in its division for Crane & Excavator Attachments (see here a previous post by BeBeez). MultiOne has sales of 27 million. 

Sonnedix, a global solar energy company whose controlling shareholder is JP Morgan Asset Management, acquired a photovoltaic plant based in Sicily from ICS, an Italian developer (see here a previous post by BeBeez). The plant has a power of 3 MW and is operative since 2011. 

Bianalisi, an Italian diagnostic company that belongs to the Casini Family (70%) Columna Capital (30%), hired Rothschild for finding exploring options (See here a previous post by BeBeez). Bianalisi has sales of 65.5 million euros, an ebitda of 13.15 million. In 2020, the company expects to generate an ebitda in the region of 25 million. 

Selematic, an Italian packaging company, hired Equity K Finance as it is looking for a new investor for (see here a previous post by BeBeez). In March 2017, Vertis acquired 60% of Selematic from the Amabile Family on the ground of an enterprise value in the region of 20 million euros. Banco Bpm and UniCredit provided an even support. Annamaria Amabile (ceo) and Amedeo Giurazza (chairman of Selematic and founder and ceo of Vertis) lead the company.  Selematic has sales of 12 million, an ebitda of 3.2 million and net cash of 1.8 million.   

Texas-based financial services firm Peak Rock, an investor in mid-market equity and debt, is in talks for acquiring AMB Packaging (see here a previous post by BeBeez). Bruno Marin is AMB Packaging’s ceo. The company belongs to the Marin Family (67%) and Friulia (33%) who hired William Blair for selling the asset. In June 2019, AMB acquired UK-based competitor TDX (Europe) with the issuance of a minibond that Finint Investments (anchor investor), Friulia and Banca Popolare dell’Alto Adige subscribed. After this buy, AMB hit a turnover of 180 million euros and an ebitda of 16 million. 

 Muzinich withdrew the binding offer that tabled at the end of 2020 for Sampsistemi, a producer of industrial components in receivership, controlled by Samp group, part of troubled Gruppo Maccaferri (see here a previous post by BeBeez). Muzininch missed the 2 February, Tuesday, deadline for presenting a restructuring dossier. Bologna Court could issue a bankruptcy sentence for Sampsistemi. However, the company attracted an undisclosed bidder.  Meanwhile Germans group Emag won the competitive auction before the Courts of Bologna and Reggio Emilia for the company branches of Samputensili Machine Tools (another company in receveirship controlled by Samp) and for Clc, which became part of the Samp group two years ago. Emag’s interest in the Samp subsidiary had already emerged last November 2020 (see here a previous article by BeBeez).

Mediocredito Trentino Alto Adige sold back to Paolo Mazzalai and Stefano Odorizzi a 14.966% stake (worth 1.2 million euros) in SWS Group, an Italian engineering company (see here a previous post by BeBeez). SWS Engineering generates abroad 70% of its turnover. 

Frankfurt-listed Private Equity Mutares Holding acquired ICT services provider Ericsson Services Italia from Ericsson Telecomunicazioni (see here a previous post by BeBeez). Ericsson Services Italia has sales of 45.5 million euros, with an ebitda of minus 4.3 million and net cash of 0.1 million.  

Milan-listed financial investor DeA Capital appointed Flavio Valeri as senior advisor and as chairman of the advisory board (See here a previous post by BeBeez). Valeri previously worked as Chief Country Officer Italy and Chief Executive Officer of Deutsche Bank Italia and will advise DeA Capital for business development and go-to-market issues. Paolo Ceretti is the ceo of Gruppo DeA Capital which has assets under management for 23 billion euros and a portfolio of investments worth in the region of 340 million.