KKR backs CMC Machinery

The GP acquired a majority stake from the founding Ponti family, who will retain a minority holding and continue to lead the business. 

Following the deal, Francesco Ponti and Lorenzo Ponti will maintein their roles of CEO and chief operation officer, respectively.

KKR intends to support the company's growth and international expansion using its global platform and resources.

The GP invested in the company via KKR Global Impact Fund, which held a final close on $1.3bn in February 2020. The vehicle invests in lower-mid-market companies based across the Americas, Europe and Asia. It targets businesses that aim at contributing measurable progress towards one or more of the United Nations' Sustainable Development Goals (SDG). 

This is the third deal inked by the fund in Europe, following its investment in UK-based waste management company Viridor in March 2020; its acquisition of a majority stake in Spanish digital education specialist MasterD in July 2020; and its purchase of business support services provider Citation in August 2020.

Company
Founded in 1980 and headquartered in Città di Castello, near Perugia, CMC is a manufacturer of packaging machinery. 

The company employs 200 staff and generates annual revenues of around €60m.

People
KKR - Stanislas de Joussineau (director, head of Global Impact in EMEA); Pedro Ramos (principal).
CMC Machinery - Giuseppe Ponti (founder, president); Francesco Ponti (CEO).

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