FAI, Neuberger-backed Trasporti Romagna buys Logistica 2

This acquisition is the fourth bolt-on completed by the company since it was acquired by FAI and Fondo Atlante at the end of 2016.

The merger is expected to further strengthen Trasporti Romagna's competitive position in the Triveneto area and enhance the range of logistics services offered by the business to Italian agri-food companies.

Following this bolt-on, Trasporti Romagna will reach consolidated revenues of €240m, with a fleet of 700 temperature-controlled carriers serving clients from nearly 30 warehouses. 

FAI inherited its stake in Trasporti Romagna from Unigrains, which had bought the business in 2016. The fund controls a 16.9% stake in the business, while Neuberger Berman's Atlante Private Equity owns a 33.85% stake; Intesa Sanpaolo a 17% holding; and the company's CEO, Simone Romagna, controls the remainder via his holding vehicle Fis.

FAI was launched in 2017 and held a €55m final close in December 2019. It is managed by a team based in Milan and led by director Francesco Orazi. The vehicle acquires minority stakes in Italian SMEs operating in the agri-food sector and generating revenues of €10-150m. 

In addition to Trasporti Romagna, FAI's portfolio comprises Sinfo One, a software company specialising in business intelligence for the food industry, bought in October 2018; frozen fruit specialist Agrimola, bought in October 2018; frozen baked goods producers Fratelli Bassini 1963 and Glaxi Pane, acquired in February 2019; and Industrial Pack, a packaging specialist for the food sector, also backed in February 2019.

Company
Headquartered in Trento, Logistica 2 specialises in logistics and temperature-controlled transport, primarily of fruit, throughout Italy, for major agricultural cooperative clients.

The company operates 120 vehicles and manages two logistics warehouses based in Trento.

People
Trasporti Romagna – Simone Romagna (CEO).

Advisers
Equity – Gitti and Partners (legal); Grant Thornton (financial due diligence).
Company – Studio Legale Marchionni & Associati (legal).

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