Xenon's Benfante buys Gruppo Ecolfer

The deal saw Xenon's portfolio company acquire a majority stake in the targeted business, while existing shareholder the Ceccotto family retained a minority stake and will continue to head the business.

The transaction was supported by a debt package provided by MPS Capital Services.

Following the acquisition, Genoa-based waste manager Benfante aims to expand its business across both the private and public Italian sectors, with particular regard to the north-eastern regions of the country. Benfante posted €100m in revenues in 2016 and employs 300 people.

Previous funding
Xenon acquired a minority stake in Benfante in April 2014.

Company
Founded in 1950 and headquartered in La Salute di Livenza, near Venice, Ecolfer provides waste management services and focuses on ferrous waste, agricultural waste and environmental recovery.

The business generated €15m in revenues in 2016 and has 65 employees, according to a statement.

Advisers
Acquirer – Pirola Corporate Finance, Ludovico Mantovani, Marco Gregorini (corporate finance); Gelmetti Studio Legale Associato, Pierfrancesco Gelmetti (legal); Deloitte & Touche, Andrea Casella (tax).
Company – Greco Vitali Associati, Matteo Ludovico Vitali, Chiara Langé (corporate finance, financial due diligence).
Debt – Curtis Mallet-Prevost Colt & Mosle, Alfonso De Marco, Filippo Bianchi, Valerio Cellentani (legal).

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