Gradiente buys HPF

German investment company Nord Holding also acquired a minority stake, alongside Amil, the holding company controlled by the Lualdi family, which reinvested in the business.

The transaction was supported by a debt package provided by Mediocredito Italiano, part of the Intesa Sanpaolo Group.

With the fresh capital, HPF plans to consolidate its market position and expand its product offering, especially within the medical and energy sectors.

The GP is deploying capital from its Gradiente II fund, which was launched with a €120m target and held a first close in November 2017 on €60m. HPF marks the first investment made by the vehicle, which is looking to deploy equity tickets between €5-10m in European mid-market export-oriented businesses.

Company
Founded in 2007 and based in Udine, HPF specialises in manufacturing metal components for the medical, automotive, aerospace and energy industries. In 2017, the company posted a turnover of €18m.

People
Gradiente – Pietro Busnardo (founder, managing partner).

Advisers
Equity – SAT Studio Legale (legal); Russo De Rosa Associati (tax); PwC (corporate finance); EY (business due diligence).
Company – Fruttarolo Cappelletti Pecile & Chiavon (legal); Cleani e Sabbadini (tax).

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• Topics
• Buyouts
• Southern Europe
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• Italy
• PwC
• EY (Ernst & Young)