Wise-owned Biolchim bolts on Cifo

Following the deal, the group will invest in product development and expansion into new markets.

Capital for the transaction was drawn from Wisequity III, a €170m vehicle.

The company stated that it was looking to increase its market share within the speciality fertiliser sector, before the fragmented industry undergoes an anticipated period of consolidation. Following the transaction, the combined group will have a turnover of €75m.

According to unquote" data, Wise acquired Biolchim from Assietta Private Equity and San Paolo IMI in January 2013 for an estimated consideration of €21m.

Debt
UniCredit provided debt to support the acquisition.

Company
Founded in 1965 and based in Bologna, Cifo is a speciality fertilizer producer with a presence in both the professional agriculture and domestic market. The company has a turnover of €28m.

People
Michele Semenzato is managing partner at Wise. Leonardo Valenti is president and CEO of Biolchim.

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