Selini Group, a long-established Bergamo-based company founded in 1969 and controlled by Chequers Capital, has acquired a 75% stake in Raicar Service, a company specialising in the rental, sale and servicing of forklifts.
Raicar, which has been operating for over forty years, is an authorised Toyota Material Handling dealer for the provinces of Cuneo, Asti, Savona and Imperia. The company provides rental, sales, technical support and consulting services for materials handling.
Normec, a Dutch group operating internationally in testing, inspection, certification and compliance services, has acquired ECM (Ente Certificazione Macchine), a leading Italian company with over 20 years of experience in certification, testing and conformity assessment services, from the Bedonni family.
Founded in 1998 by the Bedonni family, ECM is a Notified Body and an accredited certification and testing organization specializing in certification, testing, inspection and training services for machinery, electrical equipment and medical devices. ECM supports Italian and international manufacturers in achieving compliance with European and international regulatory standards.
Sienna Private Equity has acquired a majority stake in Teco, a consulting and service company operating in the Environment, Health, and Safety sector.
Founded in 1995 in Fiorenzuola d’Arda (Piacenza), Teco specializes in the design and delivery of consulting and monitoring services in the areas of workplace safety, environmental testing and inspections, training, food hygiene, and occupational medicine. With over 80 professionals, the company combines technical expertise, operational excellence, and long-standing relationships with clients across all industries.
Sienna Private Equity has acquired a majority stake in Teco, a consulting and service company operating in the Environment, Health, and Safety sector.
Founded in 1995 in Fiorenzuola d’Arda (Piacenza), Teco specializes in the design and delivery of consulting and monitoring services in the areas of workplace safety, environmental testing and inspections, training, food hygiene, and occupational medicine. With over 80 professionals, the company combines technical expertise, operational excellence, and long-standing relationships with clients across all industries.
Starlight, an Italian group backed by Star Capital, has acquired a majority stake in PUK, a company active in the lighting field with focus on the architectural outdoor lighting.
PUK is based in Lissone and specializes in lighting design, from the preliminary project to the solution and implementation of the system. The company offers different outdoor lighting solutions with many technological upgrades such as floodlights, in-ground lights, wall-recessed lights and LED products. Product realization is made by designers that take care of research, innovation and creativity.
White Bridge Investments has acquired a majority stake in the LVG Group, a company specializing in hotel management and strategic consulting for hospitality facilities.
LVG, founded in Novara in 2019, is a group focused on managing hospitality structures and, through its subsidiaries LVG Hotel Consulting and Diamond Tech, provides consulting services and software tools for hotel management. Currently, LVG manages 12 hotels across Italy.
White Bridge Investments has acquired a majority stake in the LVG Group, a company specializing in hotel management and strategic consulting for hospitality facilities.
LVG, founded in Novara in 2019, is a group focused on managing hospitality structures and, through its subsidiaries LVG Hotel Consulting and Diamond Tech, provides consulting services and software tools for hotel management. Currently, LVG manages 12 hotels across Italy.
SCA Holding has acquired a stake in Arquata, a third-party leather goods manufacturer that has been operating for over fifty years.
Arquata is based in Arquà Polesine (RO) and specializes in the production of leather accessories for third parties, mainly handbags, targeting the luxury fashion market.
D Capital has acquired a stake in Umit Benan, the homonymous menswear brand of Turkish designer Umit Benan, founded in 2009.
Umit’s collections have been showcased on some of the world’s most prestigious runways, including Milan, Florence, and Paris. In 2019, the designer redefined his brand with a contemporary approach, shifting distribution exclusively online and launching the B+ line.
Arca Space Capital and Alto Partners have acquired the entire capital of Eurosirel, an Italian group active in the contract manufacturing of medical and cosmetic devices.
Eurosirel is based in Cusago (MI) and provides classic and special bandaids with any type of gauze, as well as cosmetic products and treatments with a diversified customer base consisting of large-scale retail operators, pharmacies, specialized retailers, and pharmaceutical companies. Eurosirel employs more than 100 people and operates worldwide in more than 70 countries, with main headquarters in Cusago and four quality control and clinical testing laboratories.
Deutsche Invest has acquired a majority of Iconia, a Swiss-based company that provides B2B customer engagement services for the global luxury industry backed by private equity Affinum.
Iconia is a Swiss based B2B solutions provider for global luxury brands specialized in Point-of-sale displays, creative interior solutions and product packaging, mainly for the luxury watch, eyewear, and hospitality industries. Inconia employs more than 400 people across its two production facilities, one in Italy and one in China, and its three design offices, one in Switzerland, one in Italy and one in Singapore.
Apheon has acquired a majority of Salice, an Italian family business specialized in the production of high-quality food ingredients for the industrial ice cream, dairy and confectionary sectors.
Founded in 1934 by the Cherubini family and headquartered near Perugia, Italy, Salpa is the European leader specialized in the production of cookie-based ingredients and inclusions for the industrial ice cream, dairy and confectionary sectors. The Company is globally recognized for its quality products, distinctive production know-how, and innovative proprietary technologies. Salpa employs more than 250 people across its three wholly-owned production facilities in Italy, managing all production activities internally.
SCA Holding has acquired a stake in Moover, an industrial embroidery company that has been operating for twenty years with various techniques.
Moover is based in Montagnana (PD) and specializes in the creation of embroidery and prints for third-party clothing using techniques such as flat stitch, sponge, satin, 3D cornely, patch, and rhinestones. The company also has a specialized laboratory for the research and development of accessories in Asigliano Veneto (VI).
White Lab Group, a portfolio company of White Bridge, has acquired U-Series, a laboratory specialized in consultancy and testing services in the field of radioactivity and radiation protection.
U-Series is based in Bologna and provides services such as radioactivity measurements, consultancy on national and international legislation, product certification, research and monitoring development, and the design of methods and instrumentation for special needs. The laboratory has two locations and conducts numerous research projects, either independently or in collaboration with other organizations.
Wismettac, a global leader in the distribution of ethnic food listed on the Tokyo Stock Exchange, has acquired Uniontrade and Plaza Latina, Italian leaders active in the distribution of ethnic food for the Ho.Re.Ca. and large scale retailers sectors, from the Sun family who will continue to manage the company.
Founded in 1985 and based in Peschiera Borromeo (MI), with a range of over 3,000 items including fresh, chilled and frozen products, Uniontrade is a of the points of reference for the ethnic market in Italy. In October 2021 Uniontrade acquired Plaza Latina, a company specialized in the distribution of South American food products.
Starlight, an Italian group backed by Star Capital, has acquired a majority stake in O.Creations, a company active in the lighting field with focus on the naval sector.
O.Creations is based in Padua and specializes in the design and creation of custom decorative and technical lighting systems through its ‘Highlight’ division, for the naval, hospitality, and commercial sectors. The company also offers customized solutions in the field of furnishings through its ‘Ambience’ division. CEO Rodolfo Ongarato has reinvested a minority stake and maintained his managerial role in O.Creations.
Omnia Technologies, an Italian group owned by Investindustrial, has acquired Comas, a Siena-based company active in the construction of machines for filling liquids and capping containers in the pharmaceutical and medical sectors.
Founded in 1974 and based in Poggibonsi (SI), Comas produces a wide range of machinery for the pharmaceutical and cosmetics sectors. Comas currently has an installed base of more than 1,200 machines worldwide and employs c. 50 people.
Cobepa has acquired the majority of Salice, an Italian family business specialized in furniture fittings, opening systems and wardrobe accessories from the Salice family which will reinvest in the group.
Established in 1926 and headquartered in Novadrate (CO), the group is a leading player in furniture hardware, offering a wide range of opening solutions, mainly focused on hinges, but also drawer runners and sliding systems, to the high-end furniture market. Salice operates from three production plants in Italy and has a vertically integrated production process, developing most of the assembly machinery and equipment in-house. The group has a global presence through 10 foreign subsidiaries and 11 sales offices worldwide, with exports representing more than 75% of total net sales to over 90 countries
Alliance Etiquettes, a French group owned by Chequers Capital, has acquired Tonutti, an historical company active in the production of premium labels for the wine and spirits sector, from the Tonutti family which will reinvest in the group and continue to manage the company.
Founded in 1945 and based in Fagagna (UD), Tonutti produces labels for the food & beverage market and it is specialized in the high quality wine and spirits sector, producing more than 200 million labels per month and selling them to tier-1 Italian and French brands.
The Lampa Group, owned by White Bridge, has acquired the PF Group, one of the main specialists in the production of semi-finished accessories for the fashion industry from the Abbate family that will reinvest in the Lampa Group and will continue to manage the company.
Founded in 1985 and based in Campi Bisenzio (FI), the PF Group, formed by PF Pressufusioni Fiorentine, Fal Stampi and Effedi, is one of the main specialists in the production of semi-finished accessories in zamak and brass. Thanks to the high experience and know-how gained both in zamak die-casting and in brass hot forging, the group today represents an excellence in the Italian market.
Omnia Technologies, an Italian group backed by Investindustrial, has acquired Progema Engineering, a leader in the construction of plants for the dairy industry.
Progema Engineering is based in the province of Mantua and provides comprehensive solutions such as air conditioning, refrigeration, and processing systems for the food sector. In particular, the company operates with a focus on the processing of Parmigiano Reggiano and Grana Padano, benefiting from its strategic position in the food valley of the Po Valley.
SCA Holding has acquired a majority stake in Bonadiman, a company producing accessories for third parties.
Bonadiman is based in Bussolengo (VR) and provides design consultancy, sampling, supply, stock service, and distribution of accessories for high fashion. The company has a diversified customer base, which includes startups, designers, and large industries.
SCA Holding has acquired a stake in Marfur, a company specialized in the production of leather clothing for third parties.
Marfur, founded in 1991 and based in Noventa Padovana (PD), offers all types of leather for clothing and a wide range of services that include various processing techniques (bonding, weaving, embroidery, applications) and treatments on finished garments (washing, waxing, shading). The company has a production facility in Italy and one in Romania, and an in-house modeling department.
White Lab group, backed by White Bridge Investments, has acquired Eurolab, a laboratory that performs chemical analysis in various sectors.
Based in San Giuseppe di Cassola (VI), Eurolab conducts analyses on products and articles to verify their compliance with Reach and Rohs Regulations and various voluntary specifications, as well as environmental analyses of waste, water, and soil to check for the absence or presence of pollutants.
White Lab group, promoted by White Bridge Investments, has completed its first acquisition by taking over Eurolab, a laboratory that performs chemical analysis in various sectors.
White Lab aims to pursue a process of aggregation and consolidation in the environmental analysis laboratory sector. The objective is to become the key reference point in Italy through a widespread national presence and a broad portfolio of services for the food, environmental, medical, and materials sectors.
Carlyle has acquired the Dainese Group, a global leader in the design and manufacturing of protective equipment for motorcycling and dynamic sports under the Dainese, AGV e TCX brands, from Investcorp and the Group’s founder Lino Dainese.
Established in 1972 and headquartered in Vicenza, the Dainese Group has engineered and patented pioneering inventions in the world of safety and protection, including the back protector and the first wearable airbag for motorcyclists. AGV, founded in 1917 and acquired by Dainese in 2007, is a leader in motorcycling helmets, while TCX, acquired in 2020, is manufacturer of motorcycling shoes and boots. The Group currently operates 36 destination stores across 7 countries, employs more than 1,000 people and is present across EMEA, APAC and the Americas.
Carlyle has acquired the Dainese Group, a global leader in the design and manufacturing of protective equipment for motorcycling and dynamic sports under the Dainese, AGV e TCX brands, from Investcorp and the Group’s founder Lino Dainese.
Established in 1972 and headquartered in Vicenza, the Dainese Group has engineered and patented pioneering inventions in the world of safety and protection, including the back protector and the first wearable airbag for motorcyclists. AGV, founded in 1917 and acquired by Dainese in 2007, is a leader in motorcycling helmets, while TCX, acquired in 2020, is manufacturer of motorcycling shoes and boots. The Group currently operates 36 destination stores across 7 countries, employs more than 1,000 people and is present across EMEA, APAC and the Americas.
Ardian has acquired a majority stake in Biofarma Group, the Italian and European leader in the development, manufacturing and packaging of food supplements, medical devices, probiotic-based products and cosmetics
Under the leadership of CEO, Maurizio Castorina, Biofarma has become the Italian and European leader in the market, through the consolidation of complementary companies. Since 2016, the company has grown from around €30m in sales to more than €230m, thanks to double-digit organic growth and intense M&A activity (consisting of 5 acquisitions in 4 years). To date, almost 50% of its turnover is generated in international markets, benefiting from partnerships with several global clients
Alto Partners has acquired a 100% stake of Mipharm, one of the Italian leader in the pharmaceutical CDMO market
Established in 1998, Mipharm, is active in the development and manufacturing for third parties of a broad spectrum of products, both branded and white label. Mipharm operates through an integrated and state-of-the-art manufacturing site and offers its clients R&D services through a dedicated business unit
Starlight Group, an holding company owned by Star Capital, has acquired ZetaQlab from Andrea Balzarotti e Luca Caflisch that will continue to manage the company. This transaction is part of a broader project aiming at aggregating SMEs active in the lighting sector started by Star Capital in May 2021 with the acquisition of Elcom and Ivela.
Founded in 2014 and based in Lentate Sul Seveso (MB), ZetaQlab is specialized in the design and production of lighting control systems and digital light management solutions.
Starlight Group, an holding company owned by Star Capital, has acquired Ivela from the De Zorzi family that will continue to manage the company and has reinvested in the project. This transaction is part of a broader project aiming at aggregating SMEs active in the lighting sector started by Star Capital in May 2021 with the acquisition of Elcom.
Founded in 1986 and based in Liscate, Ivela operates through two brands: Ialux, aimed at the production, marketing and sale of lighting products in the high-end cruise ship sector, and Aria, dedicated to architectural lighting products for the retail, hospitality and residential sectors. In 2020 Ivela achieved revenues of over €20m, of which approximately 50% abroad.
DVR Capital has acquired a minority stake in Treedom, a platform that allows consumers and corporations to plant and follow trees online supporting farmers and their comunities around the world, with the ambition to become the largest tree planting community worldwide
Treedom has planted over 2 million trees thanks to projects in Euorpe, Africa, Asia and Latin America
Alsara Investment, a Swiss investment company founded by Rachid Mohamed Rachid (Chairman of Valentino), has acquired a majority stake of Khrisjoy from Francesco Sisto Besozzi and Maurizio Purificato who, together with designer Marzia Bellotti, will continue to manage the company.
Established in 2017 and renowned for its iconic puffer jacket Kris, the brand has extended its collections to ready-to-wear and has recently made its debut in menswear. Production is Made-in-Italy and distribution takes place wolrdwide in over 200 selected multi-brand stores of the caliber of Selfridges, Harrods, Lane Crawford and Antonia.
Star Capital has acquired a majority stake of Elcom from the Antonini family that will continue to manage the company.
Founded in Brescia over 30 years ago by Livio Antonini, Elcom mainly operates in the production of led strips, led panels, spotlights and accessories, with a strong specialization in custom products. This operation is part of a broader project aiming to aggregate SMEs active in the lighting sector based on LED technologies.
Alpha Test has acquired a majority stake of 700+ from the founders Lana Silanteva e Anshul Bhat that will conitnue to manage the company.
Founded in Milan in 2019, 700+ is specialized in high-quality preparation services for international standardized tests such as Gmat, Gre, Sat, Ielts. This acquisition represents the first step towards the creation of an European hub, with a strong digital vocation, dedicated to training and preparation for university tests, public tenders and professional activities in the digital sector.
Antin Infrastructure has acquired a majority stake in Hippocrates, alongside DVRCAPITAL acting as a minority co-investor. The founders will retain a significant stake and continue to manage the Group with the aim of furthering its development
Founded in 2018, Hippocrates is the leading Italian independent pharmacy platform with a network of over 120 pharmacies, concentrated in the regions of central and northern Italy and in particular Lombardy, Veneto and Emilia-Romagna, with about 800 employees
KKR has acquired a majority stake of CMC Machinery from the Ponti family.
Founded in 1980 and headquartered in Città di Castello, CMC Machinery is a premium provider of innovative e-commerce 3D on-demand packaging, using advanced end-of-line technology to improve environmental impact by reducing the consumption of packaging materials. The company is led by the Ponti family and employs a team of approximately 200 based in the Umbria region, specializing in the design and manufacturing of advanced automated packaging solutions for some of the world’s largest retail and logistics companies.
Investindustrial has acquired a majority stake of Della Toffola S.p.A. and DT Invest S.r.l. from Vittorio, Francesco and Luciano Della Toffola.
Founded in 1958, the Italian Della Toffola is a world leader in the design and manufacturing of machines and automated lines across a range of beverage sectors. The group is active in bottling, water treatment and packaging systems, as well as in the alcoholic and non-alcoholic beverage markets including water and dairy products. Della Toffola is headquartered in Trevignano (Treviso), operates 8 production plants (of which 7 in Italy) and 9 commercial branches in the most renowned global wine regions such as France, Spain, UK, Romania, USA, Australia, Argentina, Chile and Mexico. Della Toffola has 600 employees, and its products are distributed throughout the world, with approximately 77% of sales achieved internationally.
Euroitalia, a company active in the production and distribution of fragrances, has acquired the “Atkinsons” and “I Coloniali” brands from Morris Profumi.
The acquisition concerns a portfolio of highly distinctive brands with a strong heritage: Atkinsons, one of the most prestigious perfumery brands founded in London in 1799 which went on to become the official perfumer to the Royal Court of England, a brand inspired by ancient apothecary remedies composed by Maestri Speziali, masters in selecting and blending elements for healing and beauty.
White Bridge Investments has acquired a majority stake of Alpha Test from Aksìa and the management team.
Founded in 1987 and established in Milan, Alpha Test is the market leader in the preparation for university admission tests. The company offers a complete range of physical and online books and courses, with a catalog of over 600 titles and 100 new editions launched every year and over 50,000 teaching hours delivered across 41 Italian cities. The aim of White Bridge and its co-investors is to support the company in the creation of a platform to pursue a process of aggregation and consolidation in the highly fragmented education sector.
White Bridge Investments has acquired a majority stake of Alpha Test from Aksìa and the management team.
Founded in 1987 and established in Milan, Alpha Test is the market leader in the preparation for university admission tests. The company offers a complete range of physical and online books and courses, with a catalog of over 600 titles and 100 new editions launched every year and over 50,000 teaching hours delivered across 41 Italian cities. The aim of White Bridge and its co-investors is to support the company in the creation of a platform to pursue a process of aggregation and consolidation in the highly fragmented education sector.
Permira has acquired 100% of Golden Goose from private equity fund Carlyle.
Established in 2000 and headquartered in Venice, Italy, Golden Goose is one of the fastest growing and most distinctive luxury fashion brands, widely recognised for its iconic sneakers. The company has operations in Europe, US and Asia, has a network of 100 Directly Owned Stores (DOS) and a fast growing online presence.Thanks to its distinctive product design and appeal, in the last few years the Company has delivered a consistent track record of continuous high growth, generating more than €250 million revenues in 2019, with international markets accounting for almost 80% of revenues.
DVR Capital has acquired a minority stake in Freeda Media, an Italian publishing startup producing content on Facebook, Instagram and Youtube that aims to become a reference player for women within the media sector
DVR Capital has acquired a minority stake in Liberi Reggiomonte, an initiative aiming at creating a network of schools for children based on innovative and original teaching methods
New Guards Group – holding company part of the Farfetch Group – has acquired Ambush, a Japanese luxury-streetwear brand, expanding its brand portfolio that already includes Off-White, Palm Angels, Marcelo Burlon, Heron Preston and Alanui.
Established in 2008 as a jewellery brand by Yoon Ahn, a graphic designer and creative director of Dior men’s jewellery, and her husband Verbal, a world-famous pop star, in 2016 Ambush has created its first ready-to-wear collection and quickly established itself as one of the most interesting brands around the world.
Finalists of the 2017 LVMH Prize, Ambush counts Kanye West and Rihanna among its fans and has collaborated with Nike, Rimowa, Sacai, Converse and Gentle Monster.
By joining New Guards Group, Ambush aims to accelerate its international growth both in the wholesale channel and through openings of monobrand stores outside Japan.
Ergon acquired a majority stake in Dolciaria Acquaviva, a leading Italian producer of frozen bakery products focused on croissants and other sweet puff pastry products.
The Group, founded in 1979 as a small artisanal bakery of Neapolitan specialties, currently offers a widespread product portfolio of about 560 references (croissants, fagotti pastries, desserts, pizza, ready to bake snacks, bread) serving mainly the Ho.Re.Ca channel.
Cobepa acquired a majority stake in Enoplastic, a global leader in B2B manufacturing of closures for the wine and spirits industry.
The Company, founded in 1957 by Francesco Piero Macchi, offers a wide range of closure solutions such as capsules, synthetic corks, screw caps and seals, all designed and customized for each client. Enoplastic operates through 1 production facility in Italy and 5 commercial facilities, in the US, in New Zealand, in Spain, in Australia and in France, serving top tier wine and spirits brands, mostly through a direct commercial network, in more than 60 countries.
Alto Partners, through a capital increase, has become a minority shareholder of Olimpia Splendid with a 30% stake, the Saccone and Della Bona families will continue to hold the remaining 70% stake.
Olimpia is active in the design, production and marketing of air conditioning, heating and air treatment products. The capital increase endowns the Company with resources necessary to strengthen its presence in international markets and finance growth both internally, through product innovation and investments in new technologies with low environmental impact, and for externally through strategic acquisitions.
Investindustrial and The Carlyle Group created a global high-end interior design group that brings together a collection of powerful and complementary brands like Flos, B&B Italia and Louis Poulsen. DVRCAPITAL co-invested alongaside Carlyle.
The new group is one of the first of its kind, focusing on the high-end design market made by B&B Italia Group active in the furniture segment, and Flos and Louis Poulsen active in the lighting market. All three companies are established and well regarded for their unique, iconic products, notably including B&B Italia’s Up chair by Gaetano Pesce, the Arco lamp designed for Flos by the Castiglioni brothers, and Louis Poulsen’s PH 5 lamp, designed by Poul Henningsen.
Ergon has acquired a majority stake in Indo, alongside DVRCAPITAL, acting as a minority co-investor, other financial invetors and management.
Founded in 1937, and headquartered in Sant Cugat del Vallès (Barcelona, Spain) Indo is the leading Spanish independent manufacturer of ophthalmic lenses, to independent optical stores and leading optical retail chains, and one of the largest distributors of optical and ophthalmologic equipment. Indo employs approximately 350 people and operates two state-of-the-art plants located in Spain (El Papiol/Barcelona) and Morocco (Tanger). For more information on Indo visit
DVR Capital has acquired a minority stake in Hippocrates Holding, an initiative aiming at creating a network of Italian pharmacies benefiting from recent changes in the Italian legislation
Consilium SGR has acquired a majority stake in River Group, alongside DVRCAPITAL acting as a minority co-investor. The founders will retain a significant stake and continue to manage the Group with the aim of furthering its development.
Founded in the early 2000’s, River Group (composed of River Group and Calzaturificio Energy) is the leader in the production of high quality sneakers for prestigious luxury brands. The Group has two production plants in Italy, and a small Albanian unit (Alba Group) that produces shoe uppers for the group. In 2017 the Group achieved consolidated revenues of approximately €33 million.
Hennecke, a portfolio company of Capvis Equity Partners, has acquired OMS Group.
Founded at the end of the 1960s in Verano Brianza, Italy, OMS Group manufactures polyurethane processing machinery and integrated manufacturing plants for various polyurethane applications.
Founded in 1945 in Germany, Hennecke is a world-leading manufacturer of high-quality equipment and systems for polyurethane processing.
Together, Hennecke and OMS Group will have one of the broadest portfolios in the industry and become one of the strongest and most reliable suppliers of machinery for polyurethane-based applications.
BlueGem Capital Partners has acquired a 70% stake in Dr. Vranjes Firenze, a leading luxury home fragrance brand.
Founded in 1983 by pharmacist Dr. Paolo Vranjes in Florence, Italy, the brand has become globally known for its unique quality and range of in-house developed scents. Its iconic reed diffuser bottles, resembling the shape of the Brunelleschi Dome of the Florence Cathedral, are sold in over 70 countries today, and are available at 14 mono-brand stores, at luxury department stores as well as various home shops and perfumeries.
The Carlyle Group has acquired an 80% stake in Irca, a leading European producer of artisanal pastry, ice-cream and baking products, from Ardian and the Company’s founding family, who will continue to manage the Company.
Established in 1919, Irca has a prominent position in the artisanal pastry and ice-cream markets, expanding its European presence across France, Germany, Spain and Eastern Europe, renowned for the quality of its product offering, which currently totals nearly 1800 lines. Irca has experienced strong growth over the last four years, posting a CAGR of 10% and 26% in revenues and EBITDA respectively. The Company’s 2016 revenues were around €251 million, of which approximately 25% was generated outside of Italy, with EBITDA of approximately €40 million.
The Carlyle Group has acquired an 80% stake in Irca, a leading European producer of artisanal pastry, ice-cream and baking products, from Ardian and the Company’s founding family, who will continue to manage the Company.
Established in 1919, Irca has a prominent position in the artisanal pastry and ice-cream markets, expanding its European presence across France, Germany, Spain and Eastern Europe, renowned for the quality of its product offering, which currently totals nearly 1800 lines. Irca has experienced strong growth over the last four years, posting a CAGR of 10% and 26% in revenues and EBITDA respectively. The Company’s 2016 revenues were around €251 million, of which approximately 25% was generated outside of Italy, with EBITDA of approximately €40 million.
Culligan, a portfolio company of Advent International, has acquired Blupura from the Company’s founders.
Established in 2008 and headquartered in Recanati, Italy, Blupura designs, manufactures and sells water coolers and drinking water systems that provide water chilling, carbonation, heating and purification. Blupura products are sold globally in the hospitality, office and residential segments.
Alto Partners has acquired a 70% stake in Ro.Mar., owner of the Semenzato brand. The Company was founded in 1890 by the Semenzato family which has been producing bread for four generations.
Ro.Mar. produces and markets sliced bread, sandwich bread and loaves under the Semenzato brand and for private labels of Italian and international large-scale retailers. The Company, whose production is located in a 10,000 sqm facility in Olmo di Martellago (Venice, Italy), has grown steadily over the last 15 years and has registered a turnover of €18 million in 2016.
A pool of investors led by Paolo Colonna and Valeria Lattuada, together with DVRCAPITAL, acquired a majority stake in ZUSHI Japanese Restaurants. The entrepreneur and founder Cristiano Gaifa retains a significant stake and continues to lead the Group in his capacity as CEO.
Cristiano Gaifa founded ZUSHI in 2006, when he was thirty-four, out of his passion for Asia and in particular for Japanese cuisine. The first restaurant opened in the centre Verona, Cristiano Gaifa’s hometown. In 10 years ZUSHI opened 21 restaurants in Northern and Central Italy, of which 10 are directly operated and 11 are in franchising. Since the very beginning, ZUSHI positioned itself as an innovative and trendy format, combining high-quality food and modern design. ZUSHI offers dine-in, take away, and delivery options, offering its clients the possibility to order online or through an app (one of the first movers to do so in 2006).
Wise has acquired a majority stake in Tatuus Racing, a global leader in the design, manufacturing and sale of racing cars, from the Company’s founders.
In the last 15 years, Tatuus has produced more than 1.800 racing cars, collaborating with many of the most prestigious brands in the industry, such as Renault, Toyota, Honda, Abarth, Cosworth, Ford, Volkswagen and Mazda. Several of the current Formula 1 drivers, e.g. Hamilton, Raikkonen, Massa, and Ricciardo, raced using cars produced by Tatuus. Among Tatuus’ achievements, Formula 4 cars have become the standard for junior racing categories and have enabled the development of FIA Formula 4 championships all over the world. Since 2017, Tatuus also supplies the USF 2000 and Pro Mazda championships, both part of the Road to Indy program in the USA.