Metrika buys detergent specialist Allegrini

This is the first investment made by the Metrika I fund, which was launched with a €100m target and a €150m hard-cap in January 2020. The fund has raised almost €100m so far and expects to hit its hard-cap in the coming months, Unquote understands.

In addition to the equity deployed by the fund, Banco BPM provided a debt package to finance the transaction.

Following the deal, Allegrini's managing shareholders, Maurizio and Ottaviano Allegrini, will continue to lead the company.

Metrika intends to boost Allegrini's production capabilities, pursue a buy-and-build strategy with strategic acquisitions, and bolster the company's international expansion.

Company
Established in 1945 and based in Grassobbio, near Bergamo, Allegrini specialises in manufacturing professional cleaning products and detergents for the food, cosmetics, healthcare, hospitality and automotive industries.

Its flagship product is Primagel Plus, a dermatologically tested hand hygiene gel.

The company generated revenues of around €29m in 2019 and expects to reach €35m in 2020.

People
Metrika Private Equity – Marco Giuseppini, Nicola Pietralunga (partners).
Allegrini – Maurizio Allegrini, Ottaviano Allegrini (managers)

Advisers
Equity – NCTM (legal); Russo De Rosa Associati (tax); KPMG (financial due diligence); Tauw (ESG due diligence); Akros (debt advisory).
Company – KPMG (financial due diligence); 5Lex (legal).

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