DeA Capital's Idea CCR II in takeover offer for Snaidero

Following approval of the deal, Idea CCR II, which already holds around €25m of Snaidero's bank debt, will invest €13m in the company. In addition to this, DeA Capital will appoint Massimo Manelli as CEO to lead the business, while current manager Edi Snaidero will stay on with the company as president.

The Italian court, Udine Tribunal, is expected to make a decision in the coming weeks.

Idea CCR II, which provides debtor-in-possession (DIP) financing for the Italian market, reached a €300m first close in January and has nine Italian companies in its portfolio, with combined revenues of €1bn and EBITDA of €60m.

Founded in 1946, Snaidero specialises in designing and manufacturing kitchens. In 2016, the company generated €2.5m in EBITDA from revenues of €126.6m.

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• Topics
• Buyouts
• Southern Europe
• Consumer
• DeA Capital
• Italy