Permira said it acquired the majority of Italian fashion firm Gruppo Florence from 60% owners Fondo Italiano d’Investimento (FII), VAM Investments and Italmobiliare, and Italian Families (40%) (see here a previous post by BeBeez). Gruppo Florence managers, the families, FII and VAM Investments will reinvest for a minority while Italmobiliare wil exit and said it will cash 78 million euros. Attila Kiss and Francesco Trapani will keep their roles as ceo and chairman of Gruppo Florence. JP Morgan (m&a), Legance (Legal), BCG (Business), EY (financial), Maisto e Associati (tax), and Latham & Watkins (legal financing) assisted Permira. Gruppo Florence retained BofA Securities and Citigroup (M&A), DWF and Gianni & Origoni (legal), Bain & Co (business), KPMG (financial), and BonelliErede (Tax). UniCredit assisted VAM Investments. Hogan Lovells assisted the Families. Gruppo Florence has sales of above 600 million with an ebitda of 125 million.
Primat, an Italian producer of automotive components portfolio company of Tendercapital and HAT, acquired a 65% of US competitor Curtis Metal Finishing of which HCI Equity Partners will keep a minority (see here a previous post by BeBeez). Primat also acquired 97.5% of Italy’s Vi.Pi.Effe Pen of which Luca Pin has the remaining stake. Jeff Wilson will head Primat that now expects to generate sales of 150 million euros. Crédit Agricole Italia, BPER Banca, Cassa di Risparmio di Bolzano, and Intesa Sanpaolo provided Primat with a mid long-term financing facility of 50 million.
Clessidra Private Equity completed the acquisition of Italian tea producer Everton from Cronos Capital Partners, which acquired 57% of the business in 2020 (see here a previous post by BeBeez). Equita K Finance and Equita sim assisted the buyers which received acquisition financing facilities from Banco BPM, BPER Banca Corporate & Investment Banking, Crédit Agricole Italia, and Banca Ifis. Everton has sales of 40 million euros.
Zephyr Group, a distributor of boats and sheeps components that belongs to Dea Capital Alternative Funds and VSL Club, acquired Dutch competitor PK OEM Parts with the credit support of Unicredit and the advisory of Oaklins, Mazars, Pellicaan, Curtis, Mallet-Prevost, Colt & Mosle, and Lexence (see here a previous post by BeBeez). Debreij assisted PK OEM Parts which has sales of 16 million euros
Pinarello, an Italian producer of bycicles that belongs to L Catterton since 2016, attracted the interest of South African billionaire Ivan Glasenberg, Rivean and Accell, a portfolio company of KKR (see here a previous post by BeBeez). Fausto Pinarello, chairman (19.79%), and Antonio Dus, ceo (1.05%) are the company’s minority owners. Houlihan Lokey is handling the sale of the business that L Catterton acquired for an enterprise value of 90 million euros. The asset could be worth 250 million.
Clevertech acquired Delta Chiodatrici and Impianti Costruzione Pallet, a manufacturer of machinery for the pallets production, from the Morselli Family (90%) and Maurizio Gilli (10%) (see here a previous post by BeBeez). Bacciardi Partners and Banca Aletti assisted Impianti Costruzione Pallet and Delta Chiodatrici that has sales of 4.1 million euros, an ebitda of 0.803 million and net cash of 2.1 million
Italian drugstore network Farmagorà Holding, a company that Francesco Carantani and Marco Premoli founded in 2021 and in which Italmobiliare invested, announced a 20 million euros capital increase that Narval Investimenti and Gruppo Sogegross subscribed (see here a previous post by BeBeez). Farmagorà will invest the raised proceeds in acquiring a further 9 shops. Farmagorà has sales of 45 million.
Microtest, a producer of testing machines for semiconductors of which Xenon Private Equity has 60% since 2022, announced the acquisition of Test Inspire, a Dutch competitor (see here a previous post by BeBeez). Microtest has sales of 32 million euros with an above 38% ebitda margin.
Sicit Group, an Italian manufacturer of products for agricolture that belongs to NB Renaissance and Intesa Holding, acquired 51% of Patagonia Biotecnologia, a Chilean competitor (see here a previous post by BeBeez). Patagonia’s chairman David Hockley and ceo Rebeca Galvez will keep their roles. Sicit appointed Deloitte as advisor, while Patagonia Biotecnologia retained PPU and Endeavor. Sicit has sales of 81.2 million euros, an ebitda of 26 million and net cash of 23 million
Sources said to BeBeez that Alto Partners and Cube 3 are mulling for a sale of their 42% of Legami, an Italian stationery and gadgets producer, for which invested 7 million euros in 2016 (see here a previous post by BeBeez). Alberto Fassi, ceo, owns 58% of Legami which has sales of 77 million and an ebitda of 3.7 million.
French Agora Technologies, a portfolio company of Hivest Capital Partners, acquired The Placemakers (TPM), a producer of high-end hurban furniture, from the Bertino and Tasca Families that will keep their management role and reinvest for a minority of the merged business (see here a previous post by BeBeez). Banca Finint and NCTM assisted TPM. Agora and Hivest retained Rothschild & Co as debt advisor, Studio Gitti (legal), Alvarez & Marsal (financial due diligence), and Roland Berger (business due diligence). TPM has sales of 1.8 million euros and a net financial debt of 6 million.
