One Equity Partners invests in Nexion

Middle market private equity firm One Equity Partners (OEP) has made a significant minority investment in Nexion, an automotive solutions business, focused on garage equipment, diagnostics, and advanced driver assistance systems (ADAS) aftermarket solutions.

Financial terms of the private transaction have not been disclosed.

Founded in 1954 and headquartered in Correggio, Italy, Nexion manages a portfolio of historic brands, including Corghi, Sice, Hpa-Faip, Mondolfo Ferro, Teco, Tecnomotor, Orlandini, Bright, Stenhoj, Sherpa, Autopstenhoj. The Company specializes in tire changers, wheel balancers, aligners, lifts, diagnostics, and ADAS solutions. Nexion has approximately 2,000 employees and 14 manufacturing and design facilities in Italy, Denmark, Croatia, Germany, and China. The Company sells its products from independent repair shops, international aftermarket service companies, original equipment supplier dealers, and traditional and electric vehicle original equipment manufacturers through distributors and its own subsidiaries in over 75 countries globally.

“A partnership with OEP positions Nexion for its next phase of growth,” says Giulio Corghi, Chairman of Nexion. “Over its 65-plus year history, Nexion has developed a track record of introducing market-leading products and acquiring and integrating strategic brands. With OEP as our new partner, we can accelerate our organic and inorganic growth trajectory in our traditional garage equipment products, as well as our new ADAS offerings.”

“Nexion is an exceptional business serving the global automotive aftermarket for more than 65 years, where it is experiencing strong demand for its innovative products,” says Steve Lunau, a Director at OEP. “We’re pleased to partner with CEO Cinzia Corghi and her team who have transformed Nexion into a leading global supplier of diversified wheel and tire servicing equipment across Europe, Asia-Pacific, South America, and North America.”

OEP has strong experience investing in and growing aftermarket vehicle maintenance and repair businesses, including Walterscheid Powertrain Group, a leading provider of original equipment and aftermarket parts and services for off-highway powertrain applications; USCO, a leading supplier of aftermarket and OEM parts to the global earthmoving machinery industry; and, The WW Williams Company, a provider of truck repair, vehicle fleet support, logistics and packaging solutions and power generation products.

Chiomenti served as legal advisor to Nexion, while Kaleidos Corporate Finance was financial advisor and Studio Morandi served as tax advisor.  

Freshfields served as legal advisor to OEP and Eidos Partners, Banco BPM and Banca Akros were financial advisors, and FRM Tax was tax advisor.