Cronos acquires fashion accessories manufacturer Lampa

The vendors, the founding Bertoli family, reinvested in the company and retained a 30% stake.

Debt financing for the acquisition was also provided by Crédit Agricole as mandated lead arranger.

This is the first acquisition made by Cronos, which targets majority stakes in Italian mid-market companies with turnovers between €10-40m. The firm operates on a deal-by-deal basis, raising capital from a pool of approximately 20 Italian private investors for each operation.

Company
Established in 1970 and based in Grumello del Monte, near Bergamo, Lampa manufactures plastic and metal accessories for the fashion industry. Its products include buckles, closures, pins, cord locks and buttons for the haute couture garments and jewellery sectors. The company generated revenues of €16.5m in 2018.

People
Cronos Capital Partners – Alessandro Besana, Lorenzo Bovo (co-founders).
Lampa – Mirko Bertoli, Luca Bertoli (co-CEOs).

Advisers
Equity – Deloitte (financial due diligence); Long Term Partners (operational due diligence); Studio RMU Tax Lex (legal).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Italy
• Credit Agricole Corporate & Investment Bank
• Deloitte