
LBO France's Gioconda buys Bluclad
LBO France, via its Italian division Gioconda, has acquired a majority stake in Bluclad, a company specialising in metal galvanisation for the fashion and luxury industry.
Following the acquisition, the company's founders Marco Eruli and Leandro Luconi will retain a significant minority stake in the business.
A debt package was provided by Banco BPM and Credit Agricole to support the deal, Unquote understands.
LBO France deployed capital from its Small Caps Opportunities fund, which held a final close on €104m in November 2018 and has a dedicated investment team of six managers, three of which are based in Milan.
The fund invests in high-growth French and Italian companies with strong potential for international expansion and an enterprise value of less than €100m. Bluclad is the fourth investment made by the fund and the second in Italy after the acquisition of glass packaging manufacturer Vetroelite in May 2017.
Buclad plans to use the fresh capital to boost its growth both organically and through targeted acquisitions and to accelerate its international expansion, primarily in France, where the company already has a subsidiary, Bluclad France. Unquote understands that the GP has already selected a target for a first add-on, which is expected to be completed by June 2019.
Company
Founded in 2008 and based in Prato, near Florence, Bluclad specialises in galvanisation and electroplating of metal parts and components used in the luxury goods and fashion industries. The company employs 42 people and generated EBITDA of €5m from revenues of around €21m in 2017.
People
LBO France - Roberto d'Angelo, Arthur Bernardin (Gioconda managing directors).
Bluclad - Marco Eruli, Leandro Luconi (co-founders).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Czech Republic-headquartered family office is targeting DACH and CEE region deals
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds