NB Renaissance acquires Uteco

Following the completion of the transaction, Uteco's management team and current majority shareholders will retain stakes of 9% and 10%, respectively.

NBRP intends to support Uteco's management to further accelerate the group's expansion in international markets. The company has previously invested in new production capacity, and its fourth plant in Italy will be operational by the end of the year.

NBRP is the Italy-focused subsidiary of Neuberger Berman Private Equity Partners. NBRP was established from the spin-out of Intesa Sanpaolo's private equity branch in March 2015. In July last year, the GP held a final close on €300m for its NB Renaissance Partners Annex fund.

Company
Founded in 1985 and headquartered in Colognola ai Colli, Verona, Uteco is a manufacturer in the design, engineering and production of printing machines for flexible packaging. It offers a range of printing machines (flexographic, rotogravure, digital and special configurations), as well as coating and lamination machines.

According to the company, it increased its value of production from around €58m in 2008 to €127m in 2017. International markets represent 75% of Uteco's total sales. It employs a staff of 270.

People
NB Renaissance – Marco Cerrina Feroni, Stefano Bontempelli (senior partners).
Uteco Group – Aldo Peretti (CEO); Simone Quinto (CFO).

Advisers
Acquirer – Lazard (M&A); Legance Avvocati Associati (legal); PwC (financial due diligence, tax); Bain (corporate due diligence).
Company – NewInvest Corporation (M&A); LCA Studio Legale (legal).

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