IGI acquires 64% stake in Bracchi

Private equity firm Arner Private Equity exited the business after a 10-year holding period. In 2006, Arner acquired a majority stake in the business alongside the Annoni family.

As part of this latest deal, buyout firms SI2 and Siparex (via its Midcap II fund) also took part in the transaction, acquiring a combined 26% stake. The Annoni family will retain a 10% stake.

According to a statement, IGI CEO Matteo Cirla will become chairperson of the targeted company, taking the position of Arner CEO Matteo Carlotti.

The capital injected will allow the company to expand internationally through bolt-on acquisitions as well as into additional industrial market niches.

The acquisition marks the fourth transaction for IGI's fifth fund, which is now 65% invested. According to unquote" data, the vehicle held a final close on €93m in March 2013.

Company
Bracchi was founded in 1928 and is based in Bergamo, Italy. The company specialises in transport and logistics services for industrial clients.

In 2015, the company generated a turnover of €80m with €8m of EBITDA. The business employs 160 people across Italy, Poland, Slovakia and Germany.

People
IGI – Matteo Cirla (CEO).

Advisers
Equity (IGI) – PwC (corporate finance); Simmons & Simmons (corporate finance); Di Tanno e Associati (legal); Golder (environmental due diligence); Marsh (insurance due diligence); GoetzPartners (commercial due diligence).
Equity (Siparex) – Rucellai & Raffaelli Studio Legale (legal).
Vendor – Lincoln International (corporate finance); Gatti Pavesi Bianchi (legal); Pavia Ansaldo (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Industrials
• Southern Europe
• Exits
• Italy
• IGI SGR
• Siparex