Lone Star's Evoca bolts on Quality Espresso

Following the acquisition, Evoca plans to bolster its position within the food service market, expand its product offering and benefit from Quality Espresso's expertise in technologies such as telemetry.

The company plans to expand further in the Asia-Pacific region, especially in China, and in North America, where Evoca has already completed two bolt-ons: it acquired Canada-based Cafection in June 2017 and US-based VE Global Solutions in March 2018.

Lone Star bought a majority stake in Evoca, previously known as N&W Global Vending, in March 2016 from Equistone Partners and Investcorp. The sale ended an eight-year holding period for the funds, which acquired the company from Argan Capital and Merrill Lynch Private Equity in 2008.

Headquartered in Valbrembo, near Bergamo, Evoca has a presence in 100 countries worldwide, employs 1,800 people and generates annual revenues of around €400m.

Company
Quality Espresso is based in Barcelona and specialises in producing and distributing espresso machines and spare parts for professional coffee makers. The company owns various brands and controls the production and distribution of Italian espresso machine brand Gaggia for the Iberian and Latin American markets. The business employs 100 people and expects to reach a turnover of €30m in 2018.

People
Evoca – Andrea Zocchi (CEO).
Quality Espresso – Jorge Roure Boada (chairman).

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• Lone Star Funds