IGI's Bracchi bolts on Bas Group

A debt package was provided by BPER Banca and Banco BPM to support the transaction.

IGI bought a 64% stake in Bracchi in 2016 through its IGI Investimenti Cinque Fund from Arner Private Equity, which exited the company after a 10-year holding period. As part of the deal, buyout firms SI2 and Siparex acquired a combined 26% stake, while the founders, the Annoni family, retained a 10% holding.

Bracchi employs 220 people, has four offices located in Italy, Germany, Poland and Slovakia, and generated a turnover of €90m in 2017. Following the acquisition, it expects to reach a turnover of €130m in 2018, according to IGI CEO and Bracchi president Matteo Cirla.

Company
Based in Bassano del Grappa, Bas is a logistics company that offers national and international transport services and specialises in the fashion and beverage sectors. The business employs 150 people and generated revenues of €30m in 2017.

People
IGI – Matteo Cirla (CEO).

Advisers
Acquirer – KPMG (financial due diligence); GoetzPartners (corporate finance); Chiomenti (legal, corporate finance); Di Tanno e Associati (tax).
Vendors – Labs Corporate Finance (financial due diligence); BM&A (legal).

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• Topics
• Expansion
• Southern Europe
• Industrials
• IGI SGR
• Italy
• KPMG
• Build-up