Alto Partners backs MBI of Virosac

The mid-market buyout house acquired a 60% stake in the firm from the founding shareholders, who reinvested to acquire 20% of the company. DVR&C Private Equity bought the remaining 20% of the firm.

The fresh capital will underpin a heavier focus on the distribution of Virosac's products in Italy and the development of more efficient sales channels.

Alto invested through the Alto Capital III vehicle, which recently held a first close on €80m. The deal represents the first transaction completed via the fund, which has a €120m target.

Company
Founded in 1973 and based in Pederobba, Virosac produces environmentally-friendly household products including waste bags, which represent more than 70% of the company's revenues. Products are designed to reduce the waste of raw materials by opting for recycled materials and minimizing secondary packaging.

Virosac primarily manufactures and distributes under its own brand name, with just over a quarter of sales originating from private label products. The company operates two manufacturing plants and employs 90 members of staff. Virosac recorded a turnover of nearly €30m in 2011.

People
Pasquale Imperiale has been selected by Alto Partners to manage the company, due to his experience in renewable energy and oil & gas manufacturing in Italy.

Advisers
Equity - LEK Consulting, Giovanni Calia, Filippo Cerrone (Commercial due diligence); Pedersoli Associati, Alessandro Dubini, Enrico Valerio, Filippo Frabasile (Legal); Galvani Audit, Alberto Fioritti, Andrea Mioli, Enea Chersoni (Financial due diligence, tax); Ethica Corporate Finance, Cosmina Vitola, Fausto Rinallo, Andrea Muncher (Corporate finance).

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• Topics
• Southern Europe
• Consumer
• Buyouts
• Italy
• Alto Partners