Clessidra buys 80% stake in Arredo

The GP secured an 80% stake in the business, with the remaining 20% held by founder Giovanni Pagotto and other previous shareholders. This marks the second deal for Clessidra's third fund, following the recent acquisition of Roberto Cavalli. The vehicle is believed to have held a first close approximately halfway towards its €1bn target.

A banking pool including Banca IMI, Banca Popolare di Milano, Banca Popolare FriulAdria, BNP Paribas Italy, GE Capital Interbanca, IKB Deutsche Industriebank and UniCredit financed the acquisition and provided the additional resources to refinance the group's debt and support its ongoing operations.

Company
Based in Treviso, Arredo Plast comprises six companies that specialise in the injection moulding of plastics for the manufacture of indoor furniture. The group notably works with furniture chain Ikea.

Arredo Plast has operations in Europe, the US and Canada and posted a €230m turnover in 2014. EBITDA exceeded €30m.

People
Maurizio Bottinelli led the deal for Clessidra.

Advisers
Equity – Gattai Minoli Agostinelli & Partners, Bruno Gattai, Gerardo Gabrielli, Caterina Gianciotta, Eleonora Canonici, Michele Amisano, Lorenzo Vernetti, Marco Leonardi, Daniele Migliarucci, Silvia Romano (Legal); Lazard (Corporate finance).
Vendors – Gianni Origoni Grippo Cappelli & Partners, Alessandro Giuliani, Pierantonio Luceri (Legal).

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• Topics
• Southern Europe
• Buyouts
• Industrials
• Italy
• Clessidra Capital Partners