BC Partners invests in Bain-owned Fedrigoni in $3 bln deal
26/07/2022 08:20
MILAN, July 26 (Reuters) - Bain Capital Private Equity has
reached an accord with rival investment firm BC Partners for
joint ownership of Italy's Fedrigoni in a deal that valued the
Italian paper manufacturer at 3 billion euros ($3 billion), the
companies said on Tuesday.
Bain Capital acquired Fedrigoni in 2017. Since then, the
maker of self-adhesive labels and fibre-based packaging products
has more than doubled adjusted sales and nearly tripled adjusted
core profits.
"This new partnership will support Fedrigoni's management
team as they look to build on their successful track-record of
M&A," the joint statement said.
BC Partners has overseen more than 400 add-on transactions
over the last decade carried out by companies in its portfolio.
Japanese bank Nomura 9716.T said in a separate statement
it had acted as lead financial adviser to BC Partners and
supported the deal by issuing a bond to provide financing.
($1 = 0.9794 euros)
(Reporting by Valentina Za; Editing by Kirsten Donovan)
((valentina.za@thomsonreuters.com; +39 02 6612 9526;))