LBO France sells Ylda Group to Alchemy

Alchemy acquired the company via its Alchemy Special Opportunities Fund III vehicle, which held a final close on €600m in March 2014.

The company plans to use the fresh capital to expand further, both organically and through acquisitions, according to Ylda CEO Antonella Diana.

Previous funding
MPS Venture, the venture capital arm of Italian bank Banca Monte dei Paschi di Siena, and Italian buyout firm Sviluppo Imprese Centro Italia (Sici) bought a minority stake in Gruppo Daimont, which controlled chemical toilets specialists Sebach and Armal, from the Dainelli family in 2006.

MPS Venture, via its fund Siena Venture, acquired a 14.3% holding and Sici bought a 9.6% stake, while the remaining holding was held by the company's founders, the Dainelli family. The deal was valued at around €31m and MPS Banca per l'Impresa provided a debt facility to support the transaction.

After establishing a joint venture to invest in Italian SMEs, Yarpa and LBO France bought an 80% stake in Gruppo Daimont for around €65m in 2009 from MPS Venture and Sici, which fully exited the investment, while the Dainelli family retained a 20% stake. MPS Venture and Sici realised an IRR of around 30% following the transaction, according to a statement. Following the acquisition, LBO France and Yarpa created a new holding called Ylda Group to manage and operate the Sebach and Armal brands.

Company
Headquartered in Certaldo, near Florence, Ylda controls Sebach and Armal, which produce and distribute portable chemical toilets. The business employs 400 staff and generated revenues of around €50m in 2017.

Founded in 1987, Sebach specialises in renting chemical toilets and has a presence outside Italy in France, India and Morocco.

Armal produces portable chemical toilets and exports its products to 130 countries worldwide.

People
Ylda Group – Antonella Diana (CEO).

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• Topics
• Buyouts
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• Southern Europe
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• LBO France
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• Alchemy Partners LLP