Bain’s Fintyre bolts on La Genovese Gomme

The bolt-on follows Fintyre's acquisitions of Pneusmarket in 2015 and Franco Gomme in 2016. In addition to these deals, Fintyre’s holding company European Tyres Distribution acquired German Reiff Tyre and Automotive Technology from its parent group Reiff in 2017. It merged the two companies in a business generating revenues of €734.6m.

Following the latest acquisition, the group expects to reach a turnover of €450m in Italy alone and global revenues of €800m in 2018.

Fintyre told Unquote that it will continue to pursue new bolt-ons as part of its three-year pan-European acquisitive growth plan, targeting businesses in the tyre production and distribution sectors.

Bain Capital acquired Fintyre in March 2017 from London-based mid-market private equity firm BlueGem Capital Partners, deploying capital from its Europe IV fund.

Company
Founded in 1927 and based in Cagliari, LGG operates through eight stores located in Sardinia and specialises in tyre retreading and distribution. The company employs 70 staff and generated revenues of €11.7m in 2017.

People
Fintyre - Mauro Pessi (CEO, chair).
La Genovese gomme - Berto Balduzzi (president).

Advisers
Acquirer - Gattai Minoli Agostinelli & Partners (legal); PwC (corporate finance).
Company - Macciotta & Associati (legal).

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