Alto Partners backs Olimpia Splendid

Following the deal, the Saccone and Dalla Bona families will control a 70% stake in the business via their holding company OS Holding.

The GP drew capital from its Alto Capital IV fund, which held a final close on its €210m hard-cap in April 2018. The vehicle invests in Italian SMEs generating revenues within the €20-80m bracket, and deploys equity tickets in the €15-25m range.

The company intends to use the fresh capital to consolidate its market position, enlarge its product offering and further expand internationally. In addition, it plans to increase its turnover to €100m by the end of 2022, and subsequently float on the Italian stock exchange.

Company
Established in 1956 in Cellatica, Olimpia Splendid specialises in manufacturing and distributing air conditioning and gas heating systems, portable air coolers, radiators and dehumidifiers.

The company generated EBITDA of €5.5m from revenues of €61.5m in 2018 – 40% of which came from outside Italy – and reported net debt of approximately €8.5m. It employs 120 staff.

People
Alto Partners – Raffaele De Courten (founding partner).
Olimpia Splendid – Roberto Saccone (president).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Alto Partners
• Italy