Italian mid-cap private equity house Alcedo has backed the tertiary buyout of industrial machinery manufacturer Duplomatic Oleodinamica from venture capital investor Progressio for €27m.
GP aims to bolster its presence across the DACH region with the hire of a new partner
New funding will be used on sales and marketing resources to aid with international expansion
Product design company will invest in new product development and international expansion
Exit represents a 3.5x investment multiple for HgCapital and a 30% gross IRR, with cash proceeds of £36.9m