Idea buys 90% stake in Stalam

As part of the deal, the GP acquired a 90% stake in the business, according to a source familiar with the situation. The management team will retain the remaining 10% stake.

The deal saw the parent company Stalpart sell its stake alongside the management team and the industrial partner RF Biocidics.

Following the transaction, Stalam general manager Enrico Zanetti will become CEO of the group. Massimo Bianchi, former general manager at Italian coffee machines producer Gaggia, will enter the company’s board as chairperson.

The GP acquired its stake in the business through its 2011-vintage Efficienza Energetica e Sviluppo Sostenibile vehicle, which held a final close on €100m in April 2013.

According to a statement, Banco Popolare provided an undisclosed credit facility to support the transaction.

Previous funding
In 2001, Italian GP 21 Centrale Partners acquired a minority stake in the business for an undisclosed amount. More recently, the GP was reported to exit its investment in May 2014.

Company
Founded in 1978 and headquartered in Vicenza, Stalam produces radio frequency equipment for drying and thermal processing of raw materials, and intermediate and finished industrial products. Its production mainly focuses on the technical textiles and food sectors.

Since 2005, the business has had a presence in Shanghai with its sister company Stalam Deyi Manufacturing Company. The company employs 30 people in its Italian production plant and 80 in the Chinese subsidiary.

In 2016, the company posted a turnover of €20m with a 10% EBITDA margin and claims to generate 90% of its revenues from outside Italy.

People
Idea Capital Funds – Sergio Buonanno (managing director).
Stalam – Manilo Cavestro (chair); Enrico Zanetti (CEO).

Advisers
Equity – Studio NCTM (legal); EY (commercial due diligence, tax).
Vendors – Cross Border (M&A).

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

• Topics
• Buyouts
• Industrials
• Southern Europe
• Italy
• DeA Capital
• Idea Capital Funds