Aksia exits MEP Group in trade sale

The sale marks the last exit for the Aksia III fund, which closed on €147m in 2007. The GP launched its fifth fund with a €200m target earlier this year.

Aksia had reinvested in the secondary buyout of MEP in 2007, having already secured a stake in the business in the late 1990s.

Financial terms of this latest transaction are kept confidential. MEP posted consolidated sales of €52m and EBITDA of €6.3m in 2018, according to the vendor. The sale completed in late June.

Groupe Legris Industries is a French diversified industrials group. It stated it will work with MEP's existing management team, led by CEO William Giacometti, to continue the international growth strategy initiated under Aksia's ownership. MEP adds to Legris's three existing divisions: Clextral, a provider of extrusion technologies and turnkey product lines; Keller, which provides equipment and services for the building materials industry; and Schiederwerk, a power-supply business for high-intensity lighting systems, medical devices and industrial equipment.

Previous funding
Aksia said that, during its ownership, it focused on transforming MEP from a family-controlled company, mainly focused on Italy and select markets in Europe, into a small multinational. It notably focused on expanding in Asia and Latin America, and supported the diversification into new markets and new product lines. MEP also completed the acquisition and integration of Canadian competitor Hyd-Mech in 2007 to better target the North American market.

Company
Founded in 1964, MEP designs and manufactures precision metal-cutting equipment for steel, aluminium and other metal alloys. It target several industries, including construction, automotive and oil & gas.

The company is based in Pergola and employs 280 staff.

People
Aksia Group – Stefano Guidotti (managing partner).

Advisers
Company – NCTM, Manfredi Luongo (tax); ACSL, Francesco Cartolano, Chiara Cella (legal).

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• Topics
• Exits
• Southern Europe
• Industrials
• Italy
• Aksia Group
• Trade sale