Alchemy has sold one of Italy’s leading providers of portable sanitary solutions, YLDA, to Germany-based trade buyer Toi Toi & Dixi Group, a business which has been owned by Apax Partners since 2019. The transaction has resulted in a 4x MM return for Alchemy.
YLDA is a Tuscany-based specialist in the rental and manufacturing of a wide range of portable toilets and other sanitary solutions in Italy. It also has operations in France and the US. The group has two brands: Sebach (the rental business) and Armal (the manufacturing business).
Alchemy invested in YLDA in June 2018, identifying an opportunity to recapitalise the business, which had suffered years of underinvestment, and invest in the fleet to capture increasing demand and market share. Following the acquisition, the business demonstrated strong performance under CEO Antonella Diana, executing on its plans to expand geographically and into new products and increase market share in its core markets. During Alchemy’s ownership EBITDA grew substantially, reaching over €30 million in 2022.