Star Capital acquires 70% stake in GLM

According to a statement, the GP acquired the target company via its 2012-vintage Star III fund. As part of the deal, the company intends to use the capital injection to expand internationally, in particular across Eastern Europe, the US and Mexico.

Italian lender Unicredit provided debt facilities to support the transaction.

The deal marks the fourth transaction for the GP's vehicle Star III, following the acquisition of a 95% stake in chemicals producer Codyeco in July 2013, as well as an 82% stake in appliances manufacturer Castfutura in October 2013 and an 80% stake in packaging producer Goldplast in July 2015.

Company
Founded in 1998 and headquartered in Castellalto, GLM produces metal parts for the automotive sector. The company has three production plants in Italy and one in Mexico.

People
Star Capital – Marco Gazzaniga (CEO).
GLM – Peppino Barlafante, Graziano Forcini (founders).

Advisers
Equity – Studio Russo De Rosa (corporate finance, tax); Accinni Cartolano e Associati (legal).
Company – Studio D'Incecco (corporate finance).
Debt – Chiomenti (legal).

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• Topics
• Buyouts
• Consumer
• Southern Europe
• Italy