Xenon buys steel specialist CBG Acciai

The GP deployed an equity ticket of around €26m and bought a 70% stake in the company from the founding Filippini family, which retained the remaining minority stake and reinvested in the business.

This is the first investment made by the GP via its €300m Xenon Private Equity VII fund, Unquote understands.

MPS Capital Services Banca per le Imprese, Banco BPM, Banca Ifis, Unione di Banche Italiane and Intesa Sanpaolo provided a debt package of around €100m to support the deal, Unquote understands. The package includes some capex lines, which will be deployed to support the company's buy-and-build strategy.

The GP intends to boost CBG's organic growth and further strengthen its market position via new acquisitions in Europe and the US. Unquote understands that it plans to close two bolt-ons in the coming months.

Company
Headquartered in Caronno Pertusella, CBG specialises in manufacturing steel blades. The company generated EBITDA of €11m from revenues of €40m in 2018. 

People
Xenon Private Equity – Franco Prestigiacomo (managing director).

Advisers
Equity – Pavia e Ansaldo (legal); Fineurop Soditic (corporate finance).
Company – Chiomenti (legal); Mediobanca (corporate finance).

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• Topics
• Buyouts
• Southern Europe
• Industrials
• Italy
• Fineurop Soditic
• Mediobanca