Quantum carves out Gianetti from Accuride

Accuride was required to sell Gianetti by the European Commission as a condition to secure its approval for the acquisition of German business Mefro Wheels', inked by Accuride in June 2018. The company bought Gianetti in November 2015 from the MW Italia wheels division of CLN Group.

Quantum appointed Goran Mihajlovic as Gianetti's new CEO and chair of the board to lead the current management team in this new phase of growth.

The GP deployed capital from its Quantum Opportunity Fund II, which held a final close on its €77.5m hard-cap in February 2018. The vehicle invests in complex carve-out situations, spin-outs and distressed deals with potential for improvement. It deploys equity tickets of up to €15m in corporate divisions and subsidiaries across continental Europe that have annual revenues between €20-500m and an EBITDA margin from negative to 10%.

The acquisition of Gianetti is the third investment made by Quantum in Italy in the last three years. The transaction was managed by the firm's Milan office, opened at the end of 2017.

Company
Founded in 1880 and headquartered in Ceriano Laghetto, near Milan, Gianetti is a producer of steel wheels for commercial vehicles. The company specialises in manufacturing steel wheels with a diameter between 16-24" for trucks, buses and trailers. It also produces steel and alloy rims for motorcycle manufacturers.

Gianetti employs a staff of 185 people, has a production capacity of approximately 1 million units per year and generated revenues of €58m in 2017.

People
Quantum Capital Partners – Steffen Görig (founder, CEO).

Advisers
Seller – Lincoln International (corporate finance); Gianni Origoni Cappelli & Partners (legal).

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• Buyouts
• Southern Europe
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• Lincoln International