Blackstone Tactical Opportunities backs De Nora

According to Reuters Italia, the GP injected capital for a 35% shareholding in the Milan-based business. The stake was acquired from existing family shareholders Federico and Michele De Nora.

With the fresh funding, De Nora hopes to accelerate its growth and expand into new markets, the company and GP said in a statement.

Blackstone said its tactical opportunities division operates with an "opportunistic investment strategy across asset classes, industries and geographies", with the ability to invest in time-sensitive or non-traditional investment opportunities.

Company
Headquartered in Milan, De Nora is a manufacturer of energy saving and water treatment products.

Its main products are insoluble electrodes for electrochemical processes, and water filtration and disinfection technologies.

De Nora had turnover of €431m in 2016 and has a presence in 12 countries.

People
Blackstone Tactical Opportunities – Andrea Valeri (senior managing director).

Advisers
Equity – Mediobanca (corporate finance); Deutsche Bank (corporate finance).
Company – Lazard (corporate finance).

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• Topics
• Expansion
• Industrials
• Southern Europe
• Blackstone Group
• Italy