Optima srl, a leading Italian manufacturer of ingredients for artisanal ice cream active worldwide with the MEC3 brand and controlled by Charterhouse Capital Partners since November 2016 (see here a previous post by BeBeez) bought Modecor Italiana srl, a company based in Cuvio (Varese) being a European leader in pastry decorations (see here the press release).
Both companies will remain independent and separated, each focusing on its specific sector: MEC3 on icecreams and Modecor on pastry. Modecor’s ceo, Fabio Re Cecconi, has been confirmed in his role
Modecor Italiana srl has been active since 1960. It counts today 150 employees and operates in 70 countries. The company reached 31.2 million euros in revenues in 2016 with a 2.9 million ebitda and a 7.3 million euros net financial debt (see here an analysis by Leanus, after free registration and login), while it reached about 50 million euros in revenues as a group all over Europe.
As for MEC3, which is led by ceo Claudio Riva, the company reached about 110 million euros in consolidated revenues in 2016, while the sole operative company reached 97.6 million euros in revenues, 23.8 millions in ebitda with 7.6 millions of a net cash (see here an analysis by Leanus, after free registration and login).
For the deal MEC3 was advised by Fineurop Soditic (m&a), New Deal Advisors (financial and fiscal due diligence), Gattai, Minoli, Agostinelli & Partners (tax structuring), Gianni, Origoni, Grippo, Cappelli & Partners (legal), Bain & co e Alix Partners (strategic). Modecor was instead supported by Gelmetti Studio Legale Associato.
