ITALY - ABN Amro acquires pump manufacturer

Angelica
16 November 2007

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ABN Amro Capital has agreed to acquire a majority stake in Finder SpA, a manufacturer of centrifugal and vacuum pumps and filters. The news of the acquisition follows ABN Amro's recent sale of gardening products manufacturer GGP to 3i.

The private equity firm will take 70% of a Luxembourg- based newco which in turn will acquire 100% of the share capital of Finder SpA and its subsidiaries. The seller is Findernest SA, a holding company controlled by Institutional investors which will acquire 30% of the newco. The company's management team will retain their positions and will continue to be led by the current CEO Ezio Vergani.

In 1985, Finder started an acquisition program which widened its product range and presence in the industries in which it operates. New products include filters, volumetric pumps and industrial flow-meters, vacuum, peristaltic and piston pumps, dosing and mixing systems. These acquisitions were also supported by two private equity funds as minority shareholders - Capitalia Sofipa in 1992 and 3i in 1998. ABN Amro Capital also intends to back the company through add-on acquisitions of smaller market players.