Investindustrial taps Bank of America, Baird for CEME auction

Micaela Osella
09 February 2022

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Investindustrial has mandated Bank of America and Baird to advise on its sale of CEME, two sources close to and two sources familiar with the situation said.

Sale documents for the Italian manufacturer of fluid-control equipment are expected to be sent out in March, the sources close said.

The whole business will be up for grabs, the sources said, adding that the asset will be marketed based on 2022 EBITDA of EUR 80m.

Investindustrial, CEME, Bank of America and Baird did not return requests for comment.

Private equity vendor Investindustrial conducted an advisory beauty contest for the deal late last year, as reported. The firm acquired CEME from Investcorp for an enterprise value of EUR 285m in December 2017.

Established in 1974, Trivolzio-headquartered CEME manufactures fluid-control equipment, including pumps, valves and pressure switches, for use in applications including steam cleaning and ironing systems, air conditioning, medical devices, and water dispensing. It sells its products in more than 70 countries worldwide and has a strong presence in emerging markets.