Ardian and Italian private equity firm Consilium SGR have sold Rollon Group to Chequers Capital and IGI SGR.
Based in Vimercate (Milan), Rollon is an Italian manufacturer of linear rails and actuators.
The group generates 80 per cent of its revenues abroad, thanks to its German, French and US subsidiaries. Sales in 2012 reached EUR54m.
The deal was structured as a management buy-out led by the current group chief executive Eraldo Bianchessi. Chequers Capital, a French investment company and IGI SGR, an Italian private equity firm, will hold a majority stake in the group.
In 2010, Ardian and Consilium acquired the majority of Rollon to support its domestic and international growth strategy. The group almost doubled its revenues from 2009 to 2012 and produced significant operating margins. In 2011, Rollon acquired El.More, an Italian actuator producer, to enlarge its product range and leverage its international sales network.
Chequers will now support Rollon in its future developments and expansion into new markets, in particular in the Far East.
Paolo Bergonzini, managing director and head of the Italian LBO small market enterprise capital team at Ardian, says: “Thanks to the global network of Ardian, we helped the group to acquire new blue-chip clients in the train and aerospace sectors and expand to new markets.”
Stefano Iamoni, managing director at Consilium SGR, says: “Through a combination of organic growth and acquisition with the support of its financial investors, Rollon has significantly grown its sales and profitability, strengthening its leading position in the industry.”
Eraldo Bianchessi, chief executive of Rollon, says: “I would like to thank Ardian and Consilium for their support and competence during these crucial years which allowed us to hit our ambitious targets. The management team believes in the importance of doing investments in private equity like a strategic guide-line of the growth for Rollon. The managers result directly involved in the operation with a relevant minority stake. For the future, we are ready to continue to do our best and to start new challenges with the support of Chequers and IGI.”
