Ambienta exits Safim to trade

Ambienta acquired a controlling stake in Safim from the founding Mamei family in July 2017, deploying capital from its €323.5m second fund.

More recently, the GP held a first and final close for its Ambienta III fund, hitting its €635m hard-cap and exceeding its original €500m target.

Under Ambienta's ownership, Safim strengthened its executive board through a suite of senior hires, doubled its turnover from €27m to €54m and increased its EBITDA. The GP also pursued a buy-and-build strategy, with the acquisition of a 70% stake in Omni Hydraulik Ritter, a German distributor of components for hydraulic circuits, bought by Safim in February 2019.

In addition, the company expanded its market share, acquired new global customers and strengthened its expertise in electronics, according to a statement. As a result, Safim was able to increase its manufacturing capacity, achieving a plant reorganisation resulting in a twofold improvement in daily production.

Company
Established in 1976, Safim manufactures components for hydraulic systems, primarily valves and brake pumps for heavy vehicles, with the aim of maximising safety, energy efficiency and environmental awareness in the agricultural, construction and material handling sectors. 

The company is headquartered in Modena with subsidiaries across Europe, North America and Asia. It employs 150 staff and generated revenues of €54m in 2018.

People
Ambienta – Nino Tronchetti Provera (managing partner); Francesco Lodrini (partner).
Safim – Pietro Santoro (CEO).

Advisers
Vendor – Lincoln International (corporate finance); EY (financial due diligence); LMS Studio Legale (legal).

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• Topics
• Exits
• Southern Europe
• Industrials
• Portfolio management
• Ambienta
• Trade sale
• Italy
• EY (Ernst & Young)
• Lincoln International