FII sells Antares back to founders

Following five years of private equity backing, the business will revert back to complete control by its founders, Massimo Bonardi and Emidio Zorzella.

According to local press reports, Iccrea Bancaimpresa and Banche di Credito Cooperativo will provide two undisclosed credit packages to support the transaction.

Previous funding
In July 2012, FII acquired its minority stake in the business via a €5m investment in holding company Imago Technologies. According to a statement, the deal included a €4m capital increase and a €1m acquisition of existing shares.

Company
Founded in 2007, Antares develops artificial vision software and hardware that target security and quality inspection for the pharmaceutical industry. Headquartered in Brescia, the company has three production plants in Italy and five additional plants in Brazil, the US, France, Germany and South Korea.

According to Italian newspaper Giornale di Brescia, the business generated a turnover of €46m with €11.6m in EBITDA in 2015, according to a source familiar with the situation, and employs 350 people.

People
Antares Vision – Massimo Bonardi, Emidio Zorzella (founders).

Advisers
Company – ACube (financial due diligence); 4Legal Studio Legale (tax); Studio Marchese (commercial due diligence); Orsingher Ortu (debt advisory).
Debt – Curtis Mallet-Prevost Colt & Mosle (legal).

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

• Topics
• Exits
• Industrials
• Southern Europe
• Management buy-back
• Italy
• Fondo Italiano di Investimento