Alpha buys Calligaris

Unquote understands that the GP bought a stake close to 80%, while the founders, the Calligaris family, retained a 20% holding, and the De Marchi Family – founder of the Ditre brand acquired by Calligaris in December 2017 – acquired a small minority stake.

To finance the transaction, an €85m senior facility and €10m revolving facility was provided by a pool of banks composed of BPM, UBI, MPS, Crédit Agricole Friuladria, Ifis and Creval.

Alpha deployed capital from its Alpha Private Equity Fund 7 for the transaction. The vehicle held a final close on €903m in June 2017, hitting its hard-cap and exceeding its €800m target.

The GP plans to bolster the company's organic growth in its core markets, find new opportunities for add-ons and double the size of the business in the coming years.

Company
Established in 1923 and based in Manzano, near Udine, Calligaris designs furniture and sells its products in 100 countries worldwide. The company generated EBITDA of €23m from revenues of €140m in 2017.

People
Calligaris – Alessandro Calligaris (chair).

Advisers
Acquirer – Pedersoli Studio Legale (legal); Deloitte (corporate finance); Bain & Co (commercial due diligence).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Alpha Private Equity
• Italy