Ambienta buys Image S

Unquote understands that the private equity firm bought a 79% stake in the business via Next Imaging, its recently established buy-and-build platform, aimed at creating a pool of companies specialising in imaging products distribution.

The GP deployed capital from its Ambienta II fund, which held a final close on €323.5m in November 2014, surpassing its target of €300m. Unquote understands that a small debt package was also provided by Cariparma-Crédit Agricole and Banco BPM to support the deal.

The GP has recently launched a new vehicle, Ambienta III fund, which held a first and final close on €635m in May 2018, hitting its hard-cap and exceeding its original €500m target.

Following the deal, Image S founders Milena Longoni, Marco Diani and Paolo Longoni will retain a stake in the company and continue to lead the business. In addition, the team will be complemented by Next Imaging CEO Fabrizio Ricchetti, who will support the management in this phase of expansion by focusing on both organic and acquisitive growth.

Company
Established in 1994 and based in Mariano Comense, Image S specialises in the distribution of machine vision and imaging products. The company generated revenues of €30m in 2017.

People
Ambienta – Giancarlo Beraudo (partner).
Next Imaging – Fabrizio Ricchetti (CEO).
Image S – Milena Longoni, Marco Diani, Paolo Longoni (co-founders, managers).

Advisers
Equity – Gianni Origoni Grippo Cappelli & Partners (legal); Goetzpartners (operational due diligence); PwC (financial due diligence, tax); Ethica & Mittel Debt Advisory (debt); EY (ESG due diligence).
Company – Studio Cornelli Gabelli e associati (legal, tax); Studio Associato Marelli Brenna (legal); Studio Legale Pucillo (legal).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Ambienta
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• PwC