PE-backed Celli bolts on beer pumps producer Anagram

A source familiar with the situation told unquote" that Celli acquired the business via its UK-based business ADS2 for €15m. As part of the deal, Celli fully acquired the company from the founding family Farrar.

As part of the GP's growth strategy for the asset, Celli expects to generate €100m in revenues in 2017, while in 2016, it posted a turnover of €85m, according to the source.

The deal is the third bolt-on acquisition for Celli during its private equity ownership. In 2015, the portfolio company acquired UK competitor ADS2 Holding and in October 2016 purchased Cosmetal, an Italian drinking-water dispensing equipment manufacturer. The latter deal was financed exclusively by fresh loans.

Italian buyout firm Consilium backed Celli's management buy-in in June 2013 via its Consilium Private Equity Fund. The GP currently owns a 70% stake in the business, unquote" understands.

Company
Established in 1974, Anagram produces draught beer pump systems as well as generic and bespoke fonts. The company is based in Thirsk, Yorkshire, and employs 40 people.

The business claims to have a 75% market share in the beer pumps segment in the UK. In 2016, it posted £7.2m in revenues.

People
Gruppo Celli – Mauro Gallavotti (chair, CEO).
Anagram – Nigel Farrar (managing director).
ADS2 – Derek Evans (managing director).

Advisers
Buyer – IBB Solicitors (legal); KPMG (financial due diligence).

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