Cherry Bay Capital invests in Poggiolini

The transaction was made via a club deal that saw participation from several private investors alongside Cherry Bay.

The investment amounted to €10m, which included both a capital increase and the purchase of existing shares. The club deal acquired a minority holding and subscribed a convertible bond.

The company intends to use the fresh financing to complete construction of a new production centre and boost its expansion in the international markets.

Following the deal, Cherry Bay executive director Mattia Rossi will join Poggiolini's board.

Cherry Bay is a multi-family office based in Monaco, dedicated to private capital investments, wealth management consultancy and growth capital advisory. It specialises in minority investing in European family-owned SMEs operating in high-growth potential sectors and with ambitious expansion plans. It typically invests via club deals launched in partnership with selected private equity investors.

Company
Established in 1950 and based in San Lazzaro di Savena, near Bologna, Poggiolini specialises in designing and manufacturing high-precision mechanical parts and structural components for the automotive, motorsport and aerospace industries. Its products are made of titanium, inconel and other special alloys. Poggiolini generated adjusted EBITDA of €3.7m from revenues of €15m in 2019.

People
Cherry Bay Capital – Mattia Rossi (executive director).
Poggiolini – Michele Poggipolini (CEO).

Advisers
Equity – KPMG (financial due diligence); Belluzzo International Partners (legal, tax).
Company – Scouting Capital Advisors (financial due diligence); BLF Studio Legale (legal); Studio Margotto (legal).

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• Topics
• Expansion
• Southern Europe
• Industrials
• Consumer
• Italy
• KPMG