
Bain Capital acquires Fedrigoni for €650m
Bain Capital has acquired Fedrigoni, an Italian producer of specialty papers and self-adhesive labels, with the Fedrigoni family retaining a minority stake in the business.
Bain acquired the business for €650m, valuing the business at roughly 5.5x EBITDA, according to a source familiar with the situation. A supporting debt package came courtesy of BNP Paribas, HSBC, UBI Banca ad KKR, which are joint bookrunners on the deal.
The Fedrigoni family had been looking to sell the business for some time, with exclusive talks taking place with Italian GP Investindustrial and the Benetton family's Edizione last summer, according to unquote" sister publication Debtwire.
Company
Fedrigoni was founded in 1888 and is headquartered in Verona, Italy. Its products include special papers for luxury packaging and labels for the food and beverage and pharmaceutical industries. It sells directly to its multinational customers including fashion houses and fine wine producers.
Fedrigoni has manufacturing facilities in Italy, Spain and Brazil, and a global distribution network. The group has 13 factories and 13,000 products in its catalogue. It is expected to post sales of approximately €1.1bn for 2017, and employs 2,700 people.
People
Bain Capital – Ivano Sessa (managing director).
Fedrigoni – Alessandro Fedrigoni (chair).
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