Synergo injects €25m into Raccortubi

The fresh capital will finance the bolt-on of Petrol Raccord, a provider of specialist piping fittings.

Synergo has also committed to make further funds available at a later date to finance additional acquisitions.

Existing Raccortubi owners, the Pentericci family, will retain a majority stake in the business following completion of the deal.

Company
Founded in 1949 and headquartered in Milan, Raccortubi is a producer of piping used in a variety of industries including energy generation and conversion plants, chemical and petrochemical plants, offshore platforms and shipyards. The company generated a turnover of €80m in 2014 and anticipates this will increase to more than €100m following the bolt-on of Petrol Raccord.

Piacenza-based Petrol Raccord was founded in 1969. The company has a headcount of around 100.

People
Rossano Rufini, a partner at Synergo, led the deal. Luca Pentericci is vice president of Raccortubi.

Advisers
Equity – K Finance (Corporate finance); Clifford Chance (Legal); Greenwich (Environmental due diligence); Deloitte (Financial due diligence); Strategy& (Commercial due diligence).
Company – Pedersoli e Associati (Legal).

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• Topics
• Expansion
• Industrials
• Southern Europe
• Italy
• Synergo