Armonia to buy Arrigoni

The deal gives the company an enterprise value of around €55m, which equates to approximately 8x its 2019 EBITDA.

Following the transaction, the founding Arrigoni family will retain the remaining 30% in the business and continue to lead the company.

Armonia will deploy equity from its Armonia Italy Fund, which was originally launched with a €700m target – subsequently reduced to €250m – and held a final close on €280m in July 2018.

The vehicle invests equity tickets of €25-75m in Italian SMEs operating in the food, luxuries, pharmaceuticals, lifestyle and services sectors. It is now around 60% deployed.

Company
Established in 1936 and headquartered in Uggiate Trevano, near Como, Gruppo Arrigoni produces textiles, nets, woven meshes and synthetic fabrics for the agriculture industry.

It generates EBITDA of around €7m from revenues of approximately €30m.

People
Armonia – Alessandro Grimaldi (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Southern Europe
• Industrials
• Italy