ITALY - DGPA-backed Mida acquires MCG Grafica in EUR 2.8m deal

Based Gallarate, MCG Grafica specialises in the production of sleeves used in the labelling of products in the food & beverage and household cleaning segments. Last year, the company reported a EUR 3m turnover with an EBITDA of EUR 700,000.

Headquartered in Varese and founded in 1962, Mida provides adhesive labels to companies in the pharmaceutical, cosmetic and enological sectors. Mida closed 2008 with a EUR 10.5m turnover, EUR 1.6m EBITDA and a EUR 1.2m operating cash flow.

The aggregate turnover of the combined business is reported at EUR 13.5m.

In March 2007, DGPA acquired an 80% stake in Mida in a deal valued at EUR 7.4m, with debt provided by Centrobanca. No new equity was injected by DGPA to fund the bolt-on.

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• Southern Europe