Atlante Private Equity buys Gruppo Giunti

As part of the deal, the GP established the Terra newco, which wholly bought the targeted company. Previous owner Pietro Giunti took a 25% stake in the newco and will remain as the company's CEO.

The investing vehicle, Atlante, is controlled by Intesa Sanpaolo-backed IMI Fondi Chiusi. The fresh capital will bolster the company's growth internationally through acquisitions. The company stated that a few bolt-ons were already under discussion at the time of publication.

CP Advisor acted as arranger on the deal.

According to Italian publication Milano Finanza, several industrial players and private equity funds took an interest in the deal. These included trade buyers Valley Industries and Toro Corporation in the US, Israel's Netafim and Rivulis and India's Mahindra & Mahindra. Among the private equity firms, Ambienta, Gradiente, Finint & Partners and Yaarpa reportedly showed interest.

Company
Headquartered in Perugia and founded in 1945, Giunti produces and sells irrigation and water transportation systems. The company employs 130 people and claims to export to 70 countries, where it generates 60% of its combined turnover. The business generated €50m in revenues in 2015.

People
Gruppo Giunti – Pietro Giunti (CEO).

Adviser
Equity – EY (financial due diligence); Studio Gitti Raynaud & Partners (legal).
Company – Legance (legal, tax).

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• Topics
• Buyouts
• Industrials
• Southern Europe
• Italy
• Intesa Sanpaolo
• Owner buyout
• Agriculture