QuattroR taps maiden fund to acquire Fagioli

After completion of the due diligence process, QuattroR entered exclusive negotiations to acquire an initial 49% stake in the business, the GP said in a statement. Concurrently, the company's chair and previously sole shareholder Alessandro Fagioli will retain a majority stake and the CEO, Fabio Belli, will continue to lead the business.

The recently formed GP is understood to be targeting the full acquisition of the business in the future, unquote" understands.

The GP aims to boost the company's expansion internationally through organic growth and strategic acquisitions.

The deal marks the first investment for the first-time fund manager, which recently held a €711m first close for its maiden vehicle, Fondo QuattroR. The fund launched in April 2017 with a €1.5bn target and attracted commitments from several Italian state-backed institutions.

Company
Founded in 1955, Fagioli designs and manufactures specialised hauling, heavy lifting and hoisting equipment focusing on the execution of complex logistic activities across the oil and gas, marine, industrial and infrastructure sectors.

The company is headquartered in Reggio Emilia and has a presence in Singapore and Houston, Texas. In 2016, the business generated €200m in revenues and a €22m EBITDA, according to a statement. It has 500 employees and manages 14 subsidiaries.

People
Fagioli – Alessandro Fagioli (chair).

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• Topics
• Buyouts
• Industrials
• Southern Europe
• Italy