Ambienta acquires hydraulics manufacturer Safim

The GP acquired a controlling stake in the business from the founding Mamei family, according to a source close to the matter. An undisclosed credit facility was issued to support the transaction.

According to the GP's investment strategy, the Modena-based business primarily manufactures valves and brake pumps for heavy vehicles, with the aim of maximising safety, energy efficiency and environmental awareness in the agricultural, construction and material handling sectors.

The business has been contending with an adverse impact on its end-markets in recent years, according to a statement, though it expects these to pick up in the near future. It is also aiming to expand internationally across the US and India, and to capitalise on technological and regulatory advancements across its targeted segments.

Following the transaction, the GP will support Safim's plans to make senior appointments to its management team.

Company
Founded in 1976, Safim produces components for hydraulic systems in heavy vehicles, with a focus on agriculture, construction and the material handling sectors.

Headquartered in Modena, the business has 150 employees and posted €30m in revenues in 2016, according to the source.

People
Ambienta – Nino Tronchetti Provera (co-founder, managing partner); Francesco Lodrini (principal).
Safim – Eronne Mamei (founder, chair).

Advisers
Equity – AlixPartners (commercial due diligence); EY (financial due diligence, ESG due diligence); Ludovici & Partners (legal); Studio Bagni (legal); CBA (tax); Essentia (debt advisory); LMS (legal).
Vendor – Chiomenti (legal).

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