PEP's IDB bolts on Cenacchi International

IDB was established by Italian buyout house Private Equity Partners (PEP) alongside Permira's Paolo Colonna and a group of private investors in May 2015, when the consortium backed an MBO for furniture manufacturer Gervasoni.

The deal is the second bolt-on investment for the group after it acquired Meridiani in April 2016.

According to a release, IDB targets businesses with revenues ranging from €20-40m and intends to float on the public market in four years. The group reportedly generates a turnover of €43m.

Company
Headquartered in Bologna and established in 2004, Cenacchi manufactures furniture for both residential and professional buildings.

According to local press reports, the business generated €20.8m in revenues and €2.6m EBITDA in 2016.

People
Private Equity Partners – Fabio Lorenzo Sattin, Giovanni Campolo (co-founders, managing partners).
Italian Design Brands – Giovanni Gervasoni (chair).
Cenacchi International – Carl Christian Gherardi (chair, CEO).

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• Topics
• Portfolio management
• Consumer
• Southern Europe
• Build-up
• Italy
• Private Equity Partners SGR Spa