Bain Capital Private Equity, a leading global private investment firm, confirmed the definitive agreement to acquire Fedrigoni, a leading global producer of specialty papers and self-adhesive labels. The Fedrigoni family will retain a minority stake in the business.
Established in 1888 and headquartered in Verona, Italy, Fedrigoni is internationally recognised for its high-quality product range and customer service. In 2017, the Company is expected to generate sales of approximately €1.1bn. It has manufacturing facilities in Italy, Spain and Brazil and a global distribution network, with more than 2,700 employees. .
Fedrigoni sells directly to its multinational customers including fashion houses and fine wine producers, through its own distribution network. Its products include special papers for luxury packaging and labels for the food and beverage and pharma industries.
“Fedrigoni is an exciting business with strong brands and differentiated offering in speciality products,” said Ivano Sessa, a Managing Director at Bain Capital Private Equity. “We believe Fedrigoni has the potential to grow significantly, both organically and through acquisitions, and look forward to partnering with the management team to accelerate this as we have done in several other industrial global businesses. We are delighted to be building on our industrial and Italian franchise, following our recent investments in European finTyre Distribution and several others.”
“In 130 years of history, the Fedrigoni family has fully supported the growth and development of its eponymous business, reaching a leadership positioning in European specialty papers and labels. Capitalising also on its recent foreign acquisitions in the U.S.A. and in Brazil, today Fedrigoni is an international player requiring additional resources to support its global ambitions” said Alessandro Fedrigoni, Chairman of Fedrigoni. “We have found in Bain Capital the ideal investor to drive Fedrigoni into its next stage of global development given its deep industrial expertise, operational skills and its worldwide pool of resources.”
The transaction remains subject to approvals by competent regulatory authorities.
Fedrigoni was advised by BNP Paribas, Gianni Origoni Grippo Cappelli & Partners and Canestrari & Crescentini Associati. Bain Capital was advised by Rothschild, Poyry Consulting & Capital, Fisher International, PwC, Latham & Watkins, Kirkland & Ellis and Pirola Pennuto Zei & Associati. BNP Paribas, HSBC, UBI Banca and KKR will be the joint bookrunners on the associated financing.
Since 1888, Fedrigoni means excellence in specialty papers. Fedrigoni is a leading international player in the production and sale of various types of papers and in particular high value added papers and self-adhesive items. It is the global leader of self-adhesive wine labels and the European leader in the production and sale of special graphic papers. With more than 2,700 employees, 13 factories (9 in Italy, 2 in Spain and 2 in Brazil) and over 13,000 products in its catalogue, Fedrigoni sells its products in more than 110 countries worldwide.
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 220 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital Private Equity has offices in Boston, New York, London, Munich, Mumbai, Hong Kong, Shanghai, Sydney and Tokyo and has made more than 760 primary and add-on investments to date. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, managing approximately USD 85 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.