Fondo Italiano prepares divestment of two assets

Amy King
16 April 2014

Tweet
Facebook
LinkedIn
Google plus
Send to

Italy’s Fondo Italiano di Investimento is preparing the sale of its stakes in Megadyne and Arioli, according to reports in the local press.

The GP has appointed Rothschild to oversee the sale of its 14% stake in Gruppo Megadyne, a producer of polyurethane and rubber belts, pulleys and other products. The vehicle made a €20m investment in exchange for the minority stake in September 2012.

Arioli is a textile machinery manufacturer. Fondo Italiano injected €4.5m in equity and €1.5m in convertible loans in December 2010, marking its first investment according to unquote" data. The GP reinvested in the firm in 2012 to support an acquisitive growth strategy.

The state-supported investor has backed 35 companies since its launch in 2010, according to unquote" data. The GP has only divested one asset, selling its stake in Bergamo-based aerosol company Farmol in 2013 to the company's existing shareholders.

Fondo Italiano committed €11.5m to Farmol in 2012, committing to an equity investment and convertible loan. The exit is understood to have returned the same amount committed in 2012.