Idea Capital, Nord Est buy Meta-Fin stake

Each GP committed an equal share of the total equity investment. 

Meta-Fin is a holding company that wholly owns Italian vehicle security firm Meta System and 85% of Austrian automotive security systems firm Dolphin Technologies.

Idea committed capital from the Idea Energy Efficiency and Sustainable Growth vehicle, which closed on its €100m target. Nord Est, the private equity arm of Banca Popolare di Vicenza, invested via NEM Sviluppo Imprese II. The GP manages three funds worth a total of €270m and focuses on Italian industrial companies.

Company
Founded in 1973 and based in Reggio Emilia, Meta System is a vehicle security, safety and information solutions firm. The company has 700 staff and three production sites in Reggio Emilia, Mornago and Shenzhen. It reported a turnover of around €159m and EBITDA totalling €22m in 2013. Net debt stands at €30m. The company's key clients are telematics service providers and automobile companies in Europe.

Dolphin was founded in 2001 and is based in Gebirge, Austria. It focuses on GPS-tracking devices, security systems and convenience products for cars. Dolphin also provides surveillance and customer relationship management services to businesses, authorities and insurance companies.

People
Sergio Buonanno is managing director at Idea.

Advisers
Equity – Ashurst, Francesco de Gennaro, Luca Peretti (Legal); PwC, Giovanni Tinuper (Financial due diligence); Roland Berger, Andrea Marinoni (Commercial due diligence).
Company – Carnelutti, Attilio Mazzilli (Legal).

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