ICG-backed Nadella carves out Ipiranga, Shuton from IAZ Group

ICG acquired Nadella from 21 Investimenti in May 2018, ending a four-year holding period for the Italian GP, which had bought the company from Mid Industry Capital.

Nadella employs 300 staff and generates  EBITDA of around €18m from annual revenues of €70m, of which 70% comes from outside Italy.

With these acquisitions, the group expects to increase its production capacity by adding two more plants in Spain to its manufacturing facilities in Italy (Monza and Bologna), Germany (Öhringen, Nufringen and Stuttgart) and China (ChangXing). Upon completion of the transaction, Nadella will reach turnover of around €90m.

IAZ CEO Koldo Aranguren will remain as general manager of Ipiranga and Shuton, to ensure continuity of the business strategy.

Company
Headquartered in the Basque Country, Ipiranga and Shuton specialise in the manufacturing of high-precision ball screws for industrial machinery, injection molding and automation. They employ a combined workforce of 100 people and generate revenues of around €20m.

People
Nadella - Frank Scherer (CEO).
IAZ Group - Koldo Aranguren (CEO).

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