Consilium’s Celli buys Cosmetal

Celli fully acquired the targeted business in the deal, underpinned exclusively by fresh loans. As part of the transaction, the targeted company paid off its debt, while the acquirer inked new credit of £2.6m.

The transaction is part of the market consolidation strategy for the Rimini-based group, Celli, which already operates in the drinking-water segment through its sister company Alma. Following the merge, the group will employ a staff of 300 and expects to increase its turnover to €80m in 2016, from the €65m of revenues posted in 2015.

Previous funding
Italian buyout firm Consilium backed Celli's management buy-in in June 2013 via its vehicle Consilium Private Equity Fund. In 2015, the portfolio company acquired UK competitor ADS2 Holding.

Company
Founded in 1950 and headquartered Macerata, Italy, Cosmetal produces drinking-water dispensing equipment. The company employs 70 people and posted a turnover of €13.5m in 2015, with a reported €1.3m EBITDA and €8m net debt.

According to a statement, the business generates 70% of its revenues from exports, in particular towards Europe, the US and North Africa.

People
Celli Group – Mauro Gallavotti (chair, CEO).

Advisers
Buyer – Studio Alpeggiani & Associati (legal); Studio Russo De Rosa Bolletta & Associati (tax).

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• Topics
• Portfolio management
• Industrials
• Southern Europe
• Italy