Agic buys Gimatic for more than €100m
European-Asian private equity fund Agic Capital has acquired a majority stake in Italian industrial automation and robotic machinery producer Gimatic, in a deal valuing the business in excess of €100m.
The SBO sees existing investors Xenon Private Equity and the company's CEO Giuseppe Bellandi retain a minority stake in the business.
According to a statement, the company is planning on using the fresh capital to boost its international expansion, particularly in the Chinese market.
The deal follows Agic's acquisition of KraussMaffei Group for €925m in early 2016. The GP launched its maiden fund in March 2015, targeting $1bn. Following a first closing in August 2015, the fund expects to hold a final close in Q3 2016.
Company
Established in 1985 and headquartered in Roncadelle, the company produces automatic and robotic machinery for industrial applications, including sensors for automation and grippers for the automotive, packaging, food, beverage, plastics, medical and pharmaceutical sectors.
People
Agic Capital – Heiki von Dewitz (managing partner).
Gimantic – Giuseppe Bellandi (CEO).
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