AXA Private Equity and Intesa SanPaolo acquire 66% in Limacorporate
AXA Private Equity, a leading European diversified private equity firm, and international banking group Intesa Sanpaolo, have signed an agreement to acquire a majority 66% stake in Limacorporate SpA.
The existing management of Limacorporate SpA will reinvest in the remaining 34% capital.
Limacorporate SpA, founded by the Lualdi family in 1975, is a global leader in the design, production and distribution of orthopaedic devices. The Group has 600 employers and three production facilities in Italy. In 2011 it had revenues of 117 million euros, 66% of which was generated in markets outside of Italy.
The future strategic growth plan for Limacorporate SpA is focused on the further international expansion of the Group and on the enlargement of its existing product portfolio. In particular, Limacorporate SpA will focus on:
Gabriele Lualdi, President of Limacorporate SpA, commented: “Thanks to the expertise and international network of AXA Private Equity, we will be able to consolidate and expand our international presence. My decision to reinvest in the Group is an expression of the complete confidence I have in the future of the business and my intention to ensure continuity working alongside the management.”
Nicolò Saidelli, Managing Director and Mid Market Enterprise Capital team leader in Italy at AXA Private Equity, said: “Limacorporate SpA represents an outstanding example of Italian excellence in innovation and manufacturing know-how. The company has enormous growth potential thanks to its ability to successfully enter new markets and its innovative product base. We are particularly pleased to establish a partnership with a successful entrepreneur like Gabriele Lualdi, and to support him and the management in the further expansion of the Group in new market segments and regions.”
Marco Cerrina Feroni, Head of the Merchant Banking Department at Intesa Sanpaolo, added: "Limacorporate SpA is an Italian company which has excelled thanks to its excellent products, technology and innovation. It is important for companies like Limacorporate SpA that they receive support in the early stages of their development. I'm convinced that our investment in the company and the partnership formed with Gabriele Lualdi will significantly help to strengthen the Group’s global position in its current markets, and allow it to enter new regions with equal success. This is a further example of our support and commitment towards successful Italian businesses."
- Special Reports
- By Location
- By Subject
Latest Special Report
- How to set up a hedge fund