Milan, September 29 2016
Next Advisor, led by Paolo Ragazzi, who already acted as Financial Advisor for the previous involvement of Intermonte Private Equity (now Assietta Private Equity) in Areomeccanica Stranich in 2013, has managed the entrance of Alcedo Sgr in the shareholding structure.
Alcedo SGR, through its new Alcedo IV Fund, invests € 10 million in Aeromeccanica Stranich, a company at the forefront in the design and manufacturing of heavy-duty fans and dust control equipment aimed at the petrochemical, power and steel industries. Alcedo bought its stake from Assietta Private Equity, which held it since 2013 through its MC2 Fund, which on this occasion netted a return of two times the capital invested.
Andrea Ferroni, CEO and majority shareholder of Aeromeccanica Stranich, will remain in its current role, confirming its full involvement in the management of the company. With a Value of Production close to € 25 million, Aeromeccanica Stranich operates in its two facilities of Sesto San Giovanni and Pioltello, both located near Milan. The company started its own activity in 1928, with the engineering, manufacturing and installation of centrifugal fans for all the industrial applications, acquiring and keeping over the years a consolidated leading position in the market. Since 1970, the Company has also developed its activities in the field of systems for pollutant and dusty gases control; for this purpose, a structure has been specifically created for the engineering, manufacturing and installation of state-of-the-art equipment. Alcedo will support Aeromeccanica Stranich in its geographical and commercial expansion strategy through both organic growth and strategic acquisitions in Italy and other countries. Aeromeccanica Stranich also aims to strengthen its organization with new managers that will allow the Company to support its ambitious growth plans.
“The strategy shared with the majority shareholder at the time of our investment – said Stefano Lissoni, director of Assietta – strengthened the company’s competitive position as well as its international expansion in geographical areas, such as Asia and the Middle East, having the highest growth rate in the industry, laying the ground for its future development”.
Andrea Ferroni, Chairman and CEO of Aeromeccanica Stranich commented: “Through the holding period of Assietta, Aeromeccanica Stranich achieved an important growth which brought our Value of Production from € 21 million to € 25 million, doubling our profitability and recording our highest ever backlog. In an increasingly competitive world market, we have found in Alcedo the ideal partner to support us in the future growth of Aeromeccanica Stranich”.
Paolo Ragazzi of Next Advisor acted as the only Financial Advisor.
Alcedo was assisted by Stefano Roncoroni of Gitti and Partners for legal matters, by Deloitte for financial and fiscal Due Diligence and for tax by Leo De Rosa of Russo De Rosa e Associati.
Assietta Private Equity was assisted by the layer Andrea Accornero of Simmons & Simmons, while the majority shareholder of Aeromeccanica Stranich was assisted by the layer Stefano Speroni of Studio Legale Dentons and Crowe Horwath AS., supporting the Financial Due Diligence and the organization of the Data Room.