Gradiente acquires 40% of Dierre Macap Group

Amedeo Goria
18 February 2016

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Gradiente has closed its eighth transaction from its maiden fund, acquiring a minority stake in aluminium guard producer Dierre Macap Group.

Founder Giuseppe Rubbiani retains a controlling stake in the company. Alessio Onofri, founder of the former Bologna-based Macap, acquired by Dierre in 2009, is part of the management board and retains a minority stake.

According to Rubbiani, the company plans to use the fresh capital to acquire competitors in both the Italian and European markets. As part of the deal, a Gradiente team member will join the company's board.

The investment vehicle, Gradiente I, was launched in November 2009. The fund held a first close on €75m in 2011, with committed capital from institutional investors including Fondo Italiano di Investimento. The GP targets investments in the €5-7m bracket.

Gradiente's last investments were in the summer of 2015, when it acquired a controlling stake in textile manufacturer Lanificio dell'Olivo in July and in August wholly acquired Buona Compangia Gourmet, a company active in the food industry.

Company
Dierre Macap was founded in 1997 and is headquartered in Spezzano, close to Modena, Italy. The business produces aluminium guards in Italy and Germany and employs 100 people. In 2015, Dierre generated a turnover of €15m.

People
Dierre Macap – Giuseppe Rubbiani (chair).
Gradiente – Carlo Bortolozzo (partner).

Adviser
Equity – NCTM (legal); PwC (tax).
Company – Studio legale Avvocati di Impresa (legal); Studio Pincelli e Associati (legal).