Indigo cancels the sale of Prezioso Technilor

Indigo Capital has cancelled the sale process of Prezioso Technilor after 21 Centrale Partners had signed an exclusive agreement to purchase the company in what would have been a tertiary buyout.

The company was originally purchased in a buyout by Barclays Private Equity in 2000. A EUR170m secondary buyout took place in 2003 with PPM Ventures (now Silverfleet Capital) as leader and Indigo as mezzanine provider. PPM eventually left the company and Indigo took control in 2005.

Prezioso Technilor is a provider of surface coatings for industrial applications. The company offers anti-corrosion coating, heat and cold insulation coating and passive fire protection. Prezioso, which was founded in 1954, generated a turnover of more than EUR200m in 2008, 60% of which is generated abroad. The company has 2,000 employees. Cyril de Galea had been working on the deal for Indigo.

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