Wise exits SPII to Schaltbau

The business's founders, the Foiadelli family, will increase their share in the company from 25% to 35% as part of the deal.

The transaction marks the fourth exit for Wisequity II, which held a final close on €170m in May 2006. It comes nine years after Wise first acquired the business, supported by a senior debt package from Banca Monte dei Paschi di Siena.

Under the GP's tenure, the company has increased its headcount and doubled its turnover, according to unquote" data.

Company
Saronno-based SPII produces components for railway automation including terminal boards, driver desk components and key safety locks. The business has a headcount of 110 – up from 60 when Wise first invested – and anticipates a turnover of €27m for the 2015 financial year.

People
Fabrizio Medea is a partner at Wise. Roberto Foiadelli is chairperson of SPII.

Advisers
Vendor – Simmons & Simmons (Legal); Studio Spadacini (Tax); Ethica Corporate Finance (Corporate finance).
Management – NCTM (Legal).

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