Assietta backs cosmetics specialist Effegilab

Unquote understands that the deal gives the company an enterprise value of €2.8m, which equates to 5x its 2018 EBITDA.

Assietta acquired a 70% stake in the company, while Istituto Atesino di Sviluppo, which controlled a 34.8% holding, reduced its stake to 10%, while the management, led by founder and CEO Francesca Ferri, retained the remainder.

The GP invested in Effegilab by deploying capital from its Ape III fund. The vehicle, which held a final close on €48m in 2015, invests equity tickets of between €3-5m in companies based in the North of Italy with a turnover of up to €30m. This is the eighth investment made by the fund, which is around 80% deployed. 

In addition, Assietta held a €20m first close in January 2018 for its fourth fund, which has a €60m target and €70m hard-cap.

Effegilab will be controlled by Naturalia Tantum, a holding company established by the GP in 2018 to pursue a buy-and-build strategy aimed at creating a pool of Italian businesses with a leadership position in the natural cosmetics industry. Naturalia Tantum already controls San.Eco,Vit and Bioearth, acquired by the GP in March 2017 and October 2018, respectively.

Company
Founded in 2001 and based in Lavis, near Trento, Effegilab specialises in the production of natural cosmetics and food supplements. The company generated EBITDA of around €540,000 from revenues of €1.6m in 2018.

People
Assietta Private Equity – (CEO).
Effegilab – Francesca Ferri (founder, CEO).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Italy