Capvis buys Arag

The vendors are the Montorsi family, who will retain a significant minority stake and continue to be involved in the management of the business.

The GP invested via Capvis Equity V, which held a final close on €1.2bn in September 2018 and is currently more than 50% deployed. The fund targets controlling positions in companies based across DACH, Benelux and Italy, with enterprise values of €150-500m, operating in the healthcare, industrial and technology sectors.

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

The GP intends to support Arag in strengthening its market presence, developing new products, expanding internationally and further growing via strategic acquisitions.

Company
Established in 1976 and based in Rubiera, Arag manufactures electric sprayers, flowmeters, nozzles, multistage centrifugal pumps, and valves used in irrigation and precision farming.

The group controls four Italian companies (Ynnova, ASJ, AM Torneria and Mastrolab) and has four international subsidiaries (Arag Australia, Arag Argentina, Arag do Brasil, and Trudkab in Bulgaria). It employs 500 staff and sells its products in 110 countries worldwide.

Arag expects to generate revenues of €85m in 2020.

People
Capvis – Giovanni Revoltella, Eric Trüeb (partners).
Arag – Giovanni Montorsi (CEO).

Advisers
Equity – Chiomenti (legal); Banca Akros (corporate finance).
Company – Giovanelli e Associati (legal); Studio Verona Dottori Commercialisti (tax).

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• Southern Europe
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• Capvis AG
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