Bain Capital buys BlueGem's Fintyre

According to local press reports, Blackstone's credit arm GSO Capital Partners provided an undisclosed debt package to support the SBO, while HSBC will provide a revolving credit facility.

Previous funding
BlueGem acquired a minority stake in the business as part of a capital increase alongside Synergo Private Equity in February 2009.

Since then, BlueGem acquired Synergo's 38% stake and an additional 20% stake from another investor in July 2015 and increased its stake in the business to 90%. In September 2015, GSO Capital Partners and Intesa Sanpaolo took part in a €40m refinancing.

Company
Headquartered in Seriate, near Bergamo, Fintyre distributes replacement tyres for several brands, focusing mainly on cars and lorries, agriculture and industrial vehicles. The business was established in 1936 as Gruppo Pneuservice and later renamed to Fintyre in July 2008. It currently manages 11 warehouses and one central hub in Italy and employs a staff of 208.

According to press reports, the company posted €400m in revenues in 2016.

People
BlueGem – Emilio Di Spiezio Sardo, Marco Anatriello (partners).
Fintyre – Mauro Pessi (chair).

Advisers
Equity – Gattai Minoli Agostinelli & Partners (legal); Kirkland & Ellis (legal); Pirola Pennuto Zei & Associati (tax); PwC (financial due diligence).
Vendor – Rothschild (corporate finance); Deloitte (financial due diligence); Gianni Origoni Grippo Capelli (legal).

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