• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Exits

KKR-backed Selecta buys Argenta

  • Oscar Geen
  • Oscar Geen
  • 02 October 2017
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

KKR portfolio company Selecta Group has acquired Italian coffee and vending machine company Gruppo Argenta from Motion Equity Partners for an undisclosed sum.

KKR will initially acquire Argenta through an entity it controls, though Selecta has the right to acquire Argenta directly from the seller in KKR's place or from KKR after completion.

It is expected that the companies' operations will be combined to create a pan-European coffee and vending machine provider with a presence in 16 countries.

Gruppo Argenta

  • DEAL:

    Trade sale

  • LOCATION:

    Carpi

  • SECTOR:

    Industrial suppliers

  • FOUNDED:

    1968

  • TURNOVER:

    €225m

  • EBITDA:

    €53.1m

  • STAFF:

    1,200

  • VENDOR:

    Motion Equity Partners

The combined group would have pro-forma EBITDA of €240m from pro-forma sales of €1.5bn, excluding synergies from the integration of Pelican Rouge, which are expected to contribute €45m. KKR supported Selecta's acquisition of Pelican Rouge in March 2017 for an undisclosed sum.

Selecta will diversify its geographical offering with the add-on of Argenta, as the group currently has no operations in Italy.

Previous funding
In December 2003, Quadrivio and San Paolo IMI acquired Argenta for an enterprise value of €56m. The company employed 600 people and generated €6.2m in EBITDA from sales of €59.4m at the time.

In 2005, Advent International acquired 65% of the company for an undisclosed sum with co-investment from PM & Partners, while the company's management retained the remaining 35%.

A consortium of Ardian, Motion Equity Partners (then Cognetas) and Investitori Associati then bought the business from Advent in December 2007; the deal was estimated to be worth around €680m with a debt package of €450-500m. The company employed 1,150 people by then and generated a €35m EBITDA from €150m in sales.

Motion Equity Partners invested an additional €65m in the company in January 2010 as part of a debt restructuring. KKR supported another debt and equity restructuring in January 2014 with a €100m investment. Motion Equity Partners also supported this transaction with €10m and KKR retained a minority stake.

Company
Founded in 1968 and based in Carpi, Modena, Argenta supplies vending machines to offices, public institutions, universities and outdoor locations such as petrol stations and airports. The firm's automatic vending machines dispense hot and cold drinks and snacks.

The company has 18 operational centres across Italy and employs 1,200 staff. In 2016, sales were €225m, up from the €199.2m recorded in 2015. EBITDA increased from €47.1m to €53.1m in the same period.

People
Selecta Group – David Hamill (chairman); David Flochel (CEO).
Gruppo Argenta – Stefano Fanti (CEO).

Advisers
Acquirer – Lazard (financial due diligence); Kirkland & Ellis (legal); Simpson Thacher & Bartlett (legal); Ropes & Gray (legal).
Vendor – Mediobanca (financial due diligence); UniCredit (financial due diligence); Pedersoli Studio Legale (legal); Linklaters (legal).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Exits
  • Expansion
  • Southern Europe
  • Industrials
  • Italy
  • KKR
  • Motion Equity Partners
  • Build-up
  • Trade sale

More on Exits

Public sector software
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • Exits
  • 04 September 2023
Lender taking the keys from a sponsor
Ares Management handed keys to two-thirds of UK sponsor’s portfolio

Lender provided GBP 500m for three of the GP's deals between 2016 and 2019, Debtwire reported

  • Financing
  • 30 August 2023
Luggage and airport services
Actera Group explores strategic options for Celebi Ground Handling

Several investors placed bids for the company in 2022 but mismatch in pricing didn't lead to a deal

  • Exits
  • 30 August 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013