Chequers Capital acquires Phoenix Group from Opera

Chequers bought its 46.4% stake from Opera through an auction process. Unicredit supported the deal with €40m of debt facilities. The management team, led by Roberto Rusticelli, will invest in return for a minority stake.

Phoenix was previously owned by Italian private equity firm Opera, which took control of the Cape Natixis fund in August 2011. The fund had acquired the company in October 2005 alongside Quadrivio and private shareholders.

Chequers was not available for comment at the time of publication.

Company
Phoenix was founded in 1972 and is headquartered in Brescia, Italy. The company employs 230 people and produces dies and tools for the aluminium profile extrusion market.

Phoenix Group generated €66m of revenues in 2015 with an 18% EBITDA margin.

People
Chequers Capital – Denis Metzger (president, CEO).
Phoenix Group – Lorenzo Fé (chairman); Roberto Rusticelli (CEO).

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