BlueGem acquires Synergo's stake in Fintyre

According to reports, the deal brings BlueGem's stake in the business to 90%. The GP originally acquired a minority stake in February 2009 via a capital increase.

Synergo owned a 79% stake in the company following the deal, which funded Fintyre's acquisition of Bergamo-based All Pneus.

The latest transaction marks an exit for Synergo's Sofipa Equity Fund and Sofipa Equity Fund II, which originally backed All Pneus in 2007.

The sale comes nine months after Synergo sold Riri Group, a producer of buttons and zippers for the high-end fashion market, to Gilde Buy Out Partners.

Previous funding
Synergo acquired Fintyre (at the time known as Pneuservice Group) in March 2007 from the Carmignani family using capital drawn from Sofipa Equity Fund II, according to unquote" data. Seven months later, it invested €52.6m in the company to fund bolt-on acquisitions. 

Company
Headquartered in Seriate, near Bergamo, Fintyre supplies tyres for cars, SUVs and vans. The business employs 200 people across 14 warehouses, generating revenues of €245m in 2014.

People
Marco Capello is founder and managing partner at BlueGem. Mauro Pessi is chairperson and CEO of Fintyre.

Advisers
Vendor – Legance Avvocati Associati (Legal).

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• Topics
• Exits
• Expansion
• Southern Europe
• Consumer
• Italy
• BlueGem Capital Partners