Cherry Bay backs Tecnomatic with €17.5m investment

The investment included the purchase of shares and a capital increase in exchange for a minority stake, as well as a debt facility.

The transaction was made via a club deal led by CBC, with participation from other private investors.

Following the deal, CBC managing director Mattia Rossi will take a seat on the company's board to work alongside CEO Giuseppe Ranalli.

CBC intends to boost the company's production capability with the construction of a new plant, as well as support its international expansion and pursue a buy-and-build strategy.

Company
Headquartered in Corropoli, Tecnomatic specialises in manufacturing winding systems for stators of electric motors, alternators and generators.

Its client base includes Italian and international car manufacturers such as Ferrari, FCA, General Motors, Ford, Dong Feng Motors and Great Wall Motors, as well as automotive and engineering specialists ZF-TRW, Bosch, Continental, Schaeffler and Eldor Corp.

The company was established in 1998 with the merger of Proxima and Tecnomatic, two businesses specialised in producing alternator stators and rotors.

The group generates annual revenues of around €30m, with an EBITDA margin in excess of 20%. It employs 140 staff across its production facility and R&D centre specialised in hair pin technology.

People
Cherry Bay Capital – Mattia Rossi (managing director).
Tecnomatic – Giuseppe Ranalli (CEO).

Advisers
Equity – Scouting Capital Advisors (corporate finance); KPMG (financial due diligence); DWF (legal); Studio Capitani Picone (legal).

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