Wise's Primat bolts on IEB

Following the merger, the group will be able to provide the entire cycle of external zinc-based treatments for industrial parts and aims to post an aggregate turnover of €40m in 2017, the company said in a statement.

With its news acquisition, Primat aims to expand further its business across Europe.

Italian private equity fund manager Wise acquired a stake in Primat in 2014 via its Wisequity III vehicle. The current deal marks the second bolt-on acquisition for the business during its private equity ownership period, having acquired competitor Zincatura Reggiana following its MBO.

In 2016, Primat generated €30m of revenues, according to a statement.

Company
Established in 1957 and headquartered in Medalogo, near Bergamo, IEB manufactures zinc and zinc-nickel electrolytic treatments and focuses mainly on the automotive, electromechanical and household appliance sectors.

People
Wise – Fabrizio Medea (partner); Luigi Vagnozzi (director).
Primat – Camillo Rumi (CEO).

Advisers
Equity – Simmons&Simmons (legal); Spada Partners (tax).
Vendor – UBI Banca (M&A); K&L Gates (legal); Consult Studio (tax).

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