ITALY - Aksìa acquires a 55% stake in Plastiape
Private equity firm Aksìa has acquired a 55% stake in packaging manufacturer Plastiape from the Magni, Citterio and Colombo families, in a deal valued at EUR 20m.
Northern Italian Plastiape manufactures packaging for the cosmetic and pharmaceutical industry. In 2007, the business reported a EUR 45m turnover with an EUR 8m EBITDA. Similar figures are expected for 2008.
Alfredo Masuello, a former Bicc, Pirelli Cavi and Nexans Italia manager, has been appointed CEO. Masuello reportedly gained a minority stake in the firm, while the remainder is held by the previous owners.
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