Riverside buys Mec3

Equity co-investment was provided by Lexington Partners, Intermediate Capital Group (ICG) – which committed €10m – and a large family office.

Debt financing was provided by ICG, which supplied an €80m unitranche facility, and GE Capital Interbanca. ICG invested from ICG Europe Fund V, which is now 52% invested.

Riverside plans to strengthen the firm's management team and support international expansion. The firm will also place greater emphasis on R&D to extend its product range. 

Mec3 formally trades as Optima, but retails through the Mec3 brand. 

Company
Based in San Clemente and established in 1984, Mec3 develops and manufacturers ingredients for gelato, pastry and other foods.  The firm has annual revenues of €100m, up from around €20m in 2002, and retails to more than 600,000 customers. 

Mec3 operates predominantly in Italy, Germany and the Czech Republic, but exports to more than 100 countries. 

People
Luigi Bartone is head of Italy for ICG. Karsten Langer led the deal for Riverside, with support from vice president Rafael Alvarez-Novoa, senior associate Damien Gaudin, senior operating partner Fabio Pesiri and principal Tomasz Glowaxki. 

Advisers
Equity – Allen & Overy (Legal); Bain & Co (Commercial due diligence); PwC (Financial due diligence); Deloitte (Corporate finance).
Company – BLF Studio Legale (Legal).  

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Southern Europe
• Consumer
• Buyouts
• Italy
• Riverside
• Intermediate Capital Group