B4 Investimenti buys seats manufacturer Lazzerini

The GP drew capital from its B4 H II fund, which was launched in 2018 and has raised €43m so far. The vehicle invests in Italian companies generating revenues between €10-50m.

Company
Established in 1967, Lazzerini designs and manufactures passenger seats for buses, trains, cars and ships. The company is headquartered in Monsano, near Ancona, with an additional office in the US and has a subsidiary, Styleride Seating Systems, based in Australia.

Lazzerini generated an EBITDA margin of 10% from revenues of around €27m in 2018, of which 75% came from outside Italy, primarily from the UK, Australia, New Zealand and Hong Kong.

People
Lazzerini – Innocenzo Salvatore Carbone (CEO).
B4 Investimenti – Fabrizio Baroni (founding partner).

Advisers
Equity – Gianni Origoni Grippo Cappelli & Partners (legal).
Company – K Finance (corporate finance); Pedersoli Studio Legale (legal); PwC (financial due diligence).

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