Cobepa buys Italian plastic caps producer Enoplastic

Cobepa bought a stake of around 60-70% in the company from the Macchia and Moglia families, who retained the remaining minority holding.

Unquote understands that a debt package to support the deal was provided by a pool of banks composed of BNL, Banco BPM, Banca Ifis, Unicredit and Cariparma-Crédit Agricole.

The GP intends to further strengthen the company's market position in Italy and internationally, and boost its growth both organically and through new acquisitions.

This is the first investment made by Cobepa in Italy. The firm targets growth capital investments, acquisitions of significant minority stakes and leveraged buyouts in companies based in Europe and North America with solid business models, sustainable market positions and strong management teams.

Company
Established in 1957 and based in Bodio Lomnago, near Varese, Enoplastic manufactures synthetic corks, plastic caps, screw caps and closures for wine and liqueur bottles. The company is headquartered in Italy with five subsidiaries located in France, Spain, the US, Australia and New Zealand. It sells its products in 60 countries worldwide, employs 400 staff and generates EBITDA of €18.5m from revenues of around €80m.

People
Enoplastic – Michele Moglia (CEO); Samo Kalin (chair).

Advisers
Equity – Lincoln International (corporate finance); EY (financial due diligence); Bain & Co (commercial due diligence); White & Case (legal).
Company – Rothschild (corporate finance); New Deal Advisors (financial due diligence); NCTM (legal, tax).

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• Topics
• Buyouts
• Southern Europe
• Industrials
• EY (Ernst & Young)
• Rothschild
• Lincoln International
• White & Case
• Italy
• UniCredit