NB Aurora invests €20m in NB Renaissance's Rino Mastrotto

This investment follows the acquisition of a 70% stake in Rino Mastrotto inked by NB Renaissance last month, in a deal that gave the business an enterprise value of around €300m, equal to 6.6x its 2018 EBITDA of €45m.

According to the deal, the founding Mastrotto family retained the remaining 30% and continued to lead the company with Rino Mastrotto as chair and Matteo Mastrotto as CEO.

NB Aurora and NB Renaissance are both controlled by alternative investment fund manager Neuberger Berman.

Company
Headquartered in Trissino, near Vicenza, Rino Mastrotto specialises in producing leather for the fashion, automotive and furniture industries. The company has production facilities in Italy, Sweden and Brazil, and operates in Mexico via a joint-venture.

Trissino employs 850 staff, sells its products in 60 countries worldwide, and generated EBITDA of around €45m from revenues of €320m in 2018, of which 60% came from outside Italy.

People
NB Renaissance Partners – Fabio Canè (senior partner).
Rino Mastrotto – Rino Mastrotto (chair); Matteo Mastrotto (CEO).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Italy
• NB Renaissance Partners