ITALY - Barclays Private Equity Acquires ULKA Costruzioni Elettromeccaniche SpA

In September 2005, Barclays Private Equity acquired CEME, a producer of fluid control components for small household appliances. It now plans to integrate CEME and ULKA to build a worldwide supplier of fluid control components (e.g. solenoid pumps, solenoid valves, thermostats, pressure switches) for small household appliances (such as coffee machines, steam irons, heating and air conditioning) and industrial applications. The group will be run by Marco Boraso, managing director of CEME.

ULKA was founded in 1975 in Retorbido, Italy. In 2005, the company generated total revenues of EUR 46m. Aggregated pro-forma revenues of CEME and ULKA amounted to approximately EUR 100m in 2005.

The transaction was undertaken by Barclays Private Equity’s Milan office led by Emanuele Cairo, managing director and supported by Marco Pennisi, investment director. Debt was provided by Banca Intesa.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Southern Europe
• Industrials