Star Capital exit Codyeco via trade sale

Star Capital has fully exited its 95% stake in the Italian business, four years from the initial acquisition. Financial details surrounding the transaction remain undisclosed.

Previous funding
The GP backed the company's MBO via its Star Capital III fund for €24.7m in July 2013. The firm acquired a 95% stake in the business, while the management team purchased the remaining 5%.

Company
Established in 1976, Codyeco produces dyes for leather tanning processes. The business mainly targets the high-end shoes, bags and clothing markets. Headquartered in Santa Croce sull'Arno, Codyeco also has a presence in Hong Kong.

People
Star Capital – Marco Cazzaniga (CEO); Marco Baratti (partner).
Codeyco – César Knebel (CEO).

Advisers
Vendor – Lincoln International (M&A).

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• Topics
• Exits
• Industrials
• Southern Europe
• Trade sale
• Italy