Ergon’s Nicotra Gebhardt buys Industrie CBI

The deal was funded via a refinancing completed in October this year, when the company secured €115m of senior unitranche facilities to refinance existing debt and support the bolt-on.

The refinancing was organised by mandated lead arrangers GE Capital and Ares Management. The funding was provided from the pair's €1.75bn European Senior Secured Loan unitranche programme.

Ergon acquired a 50% stake in Nicotra Gehardt for approximately €80m in January 2008 from Fondo Interbancario d'Investimento Azionario.

The combined group has a turnover of €200m, 12 global plants and more than 1,000 employees. The bolt-on will create a product range spanning both civil and industrial applications.

Company
Founded in 1963 and based in Monza, Industrie CBI produces industrial fans and related engineering and maintenance services. The firm's clients operate in the oil and gas, energy and infrastructure sectors.

CBI has a turnover in excess of €60m and employs more than 200 people in five locations.

People
Nicola Zambon is a partner at Ergon and director of Nicotra Gebhardt.

Adviser
Company – EY (Corporate finance).

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• Topics
• Southern Europe
• Industrials
• Portfolio management
• Italy
• GE Capital