IGI backs Nuovaplast

The transaction was made via a newco called Clio, which bought 74.7% in Nuovaplast, while entrepreneur Roberto Tomasoni retained the remaining 25.3% in the business.

The GP drew capital from its IGI Investimenti Sei fund, which was launched with a €150m target and held a €100m first close in November 2018.

In addition, Banca IFIS, Crédit Agricole and BPER Banca provided a debt package to support the deal.

Following the acquisition, IGI partner Angelo Mastrandrea will join the company's board as president. The GP plans to support Nuovaplast's expansion and boost its growth both organically and through additional acquisitions.

Company
Founded in 1997 and based in Villa Lempa, near Teramo, Nuovaplast specialises in manufacturing polyethylene terephthalate (PET) pre-forms for drinks, cosmetics and detergents. The company employs a staff of 45 people and generated revenues of €50m in 2018.

People
IGI – Angelo Mastrandrea (partner).

Advisers
Equity – Chiomenti (legal); KPMG (corporate finance); Di Tanno e Associati (financial due diligence); DV Studio Legale (financial due diligence); Golder (financial due diligence).
Company – PwC (corporate finance); PwC TLS (legal).

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