Milan, 21 November 2018 – Ambienta SGR, Europe’s largest environmental sustainability focused private equity fund, has completed the acquisition of AromataGroup, a leading manufacturer and supplier of natural flavours, extracts and natural colours used in the food & beverage, pharmaceutical, nutraceutical and cosmetics sectors.
AromataGroup, based in Bresso, has been established in 2011 as a long-standing tradition group of companies and including Variati Aromi, Select Alimenta, Emans Derivati Aromatici and Florio Colori. The group currently owns three production facilities in the North of Italy and it totals 120 employees, a portfolio of more than 5,500 referees and 1,200 customers in 50 different countries. As of today, approximately 60% of AromataGroup’s turnover originates from natural flavours and colours field and it is increasingly growing due to an increase in the demand fostered by the stricter US and European regulation framework in addition to the deeper awareness and demand of the end-user. In 2018 the group will achieve a turnover equal to 30 million Euro and an EBITDA of 5 million Euro.
The investment in AromataGroup marks the start of the investment program of Ambienta III private equity fund, which has acquired a portfolio of 635 million Euro as of the end of May.
In the transaction Ambienta has been advised by Pedersoli Studio Legale with a team led by Alessandro Marena (Equity Partner) and including Andrea Faoro (Partner), Paolo Percivalle, Edoardo Bononi and Elisa Bertoni (Associates) as to legal aspects and by Studio Facchini Rossi & Soci with a team composed of Luca Rossi and Giancarlo Lapecorella (Partners), Massimiliano Altomare, Marco Belloni, Andrea Basi and Luca Bertolo.
The sellers and re-investors have been advised by Studio Montanari Brescia Miccoli & Associati with a team composed of Giampiero Miccoli (Partner), Agostino Frau and Giulia Costa (Associates).
Variati & Co. S.p.A. has been advised by Filippo Caravati, at Caravati Pagani Dottori Commercialisti Associati and by Bassilana e Associati represented by Giorgio Prinzivalli (Partner).
The transaction has been funded by Banco BPM and Crédit Agricole which have been advised by Simmons & Simmons with a team composed of Davide D’Affronto (Partner), Riccardo Rossi (Managing Associate) and Cettina Merlino (Associate), as well as Marco Palanca (Partner) and Pasquale Del Prete (Associate) as to tax aspects.
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