IGI buys OME Group

Alessia Argentieri
19 May 2021

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IGI Private Equity has acquired a 73% stake in Italy-based bolts manufacturer OME Group from the founding Farina family.

Financing to support the transaction was provided by BPER Banca, Crédit Agricole, and Intesa Sanpaolo, which acted as agent bank.

The Farina family will retain a minority stake in OME via its holding company Anirafa and remain involved in the management of the group.

IGI has invested in OME via IGI Investimenti Sei, which held a €170m final close in July 2020, surpassing its €150m target.

The vehicle acquires majority or controlling stakes in Italian companies with a presence in niche markets and export-driven business models, operating in industrial B2B and automation. It targets businesses with revenues of €50-300m and deploys equity tickets in the €5-20m range.

OME is the third investment inked by the fund, following its acquisition of a majority stake in pre-form plastics manufacturer Nuovaplast in January 2019; and the purchase of a 42% stake in Italian test stands specialist Test Industry in August 2019.

With IGI's support, OME plans to consolidate its market position, strengthen its management team, and explore external growth opportunities. The company also intends to expand into new geographies and markets, including the aeronautics industry.

Company
Founded in 1949 and based in Erba, OME is composed of three companies, OME Metallurgica Erbese, Stampinox and Hexagonal, which specialise in the production of fastening systems for the oil, gas and power generation sectors.

The business's product range includes studbolts, anchor bolts, bolts in alloy and carbon steel, threaded bars and rods.

OME generated turnover of €45m with a 20% EBITDA margin in 2020.

People
OME Group – Diego, Carlo and Filippo Farina (shareholders, managers).
IGI Private Equity – Matteo Cirla (CEO).

Advisers
Company – Equita K Finance (corporate finance); NCTM (legal); Studio Sala (legal); Studio Porta (tax).
Equity – PwC (financial due diligence); Leoni Corporate Advisors (commercial due diligence); Molinari e Associati (legal); Di Tanno Associati (tax); Golder Associates (ESG due diligence).