DeA Capital's Idea CCR I sells Sinterama to trade

In addition to CCR I's majority stake, the acquirer also bought the remaining shares held by the management and minority shareholders, becoming the sole owner of Sinterama.

CCR I acquired a 51% stake in Sinterama in May 2017, while the management and founders retained the remaining minority. Following the deal, Guglielmo Fiocchi stayed on with the business as CEO, while Idea CCR I managing director Francesco Gori joined the company's board.

The deal was part of an equity-debt swap that included the acquisition of a portfolio of eight companies' loans bought by the fund from a pool of banks composed of UniCredit, BNL, MPS, BNP Paribas, Banca Popolare di Vicenza, Banca Popolare di Milano and Biverbanca.

Company
Founded in 1968 and based in Biella, Sinterama manufactures coloured polyester threads and yarns, claiming a production of 30,000 tonnes of thread every year. The company focuses on the textiles industry, mainly operating in the automotive, clothing and furnishing sectors, and exporting to 70 countries. It employs around 900 staff and generates revenues of €135m.

People
Idea CCR I – Roberto Saviane (chair); Francesco Gori (managing director).
Sinterama – Guglielmo Fiocchi (CEO).

Advisers
Equity – Allen & Overy (legal).
Company – Orrick (legal).

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• Topics
• Exits
• Southern Europe
• Industrials
• DeA Capital
• Italy
• Orrick
• Allen & Overy
• Trade sale