L Catterton and Ambienta acquire Pibiplast

Banca Akros acted as exclusive financial advisor to the seller

L Catterton, the largest global private equity fund focused on consumer goods, and Ambienta, the largest private equity fund focused on sustainability, have joined forces to acquire Pibiplast, a leading developer and manufacturer of plastic packaging for the cosmetics market, based in Correggio (RE). The Bosi family, founder and current owner of the company, will remain in the capital with a minority share.

Founded in 1954, initially as a manufacturer of plastic packaging for the pharmaceutical industry, Pibiplast has specialised in the cosmetics and make-up sectors through a series of strategic acquisitions and investments in cutting-edge technology. Pibiplast currently operates in Northern Italy through 4 production plants, serving over 500 customers in 35 countries around the world. In the last 5 years, Pibiplast has recorded high growth rates reaching revenues of approx.  €60 million and EBITDA of approx.  €12 million in 2017.

Banca Akros acted as exclusive financial advisor to the seller.

The following is a brief description of the transaction:

• on Friday 8 June 2018, L Catterton and Ambienta signed an agreement to acquire a majority stake in Pibiplast (confidential value)
• the main drivers behind the assessment were the strong growth history and positive market outlook, combined with the company’s state-of-the-art plants and an experienced management team
• closing of the transaction is subject to the fulfilment of certain typical conditions (Antitrust) and is expected by the end of July 2018
• the transaction confirms Banca Akros’ growing presence in the Italian M&A mid-market as well as its strong network with industrial and financial counterparties

Banco BPM was successfully involved in the transaction through the support of bridge financing solutions at the level of the seller’s family holding company as well as supporting the L Catterton and Ambienta consortium by providing an acquisition financing package.

Banca Akros Team

Senior sponsorship

Giuseppe Puccio             +39 02 4344 4441

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M&A

Alessandro Erbanni          +39 02 4344 4260

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Investment Banking Pool

Luca Morello                     +39 02 4344 4046