M&A Deal Summary

Wise Equity, 21 Invest, Investindustrial and L Capital Management Acquire Stroili Oro Group

On April 4, 2006, private equity firms Wise Equity, 21 Invest, Investindustrial and L Capital Management acquired retailer Stroili Oro Group from Ergon Capital Partners for 180M EUR

Acquisition Highlights
  • This is Wise Equity’s 1st, 21 Invest’s 1st, Investindustrial’s 1st and L Capital Management’s 3rd transaction in the Retail sector.
  • This is Wise Equity’s , 21 Invest’s , Investindustrial’s 7th and L Capital Management’s largest (disclosed) transaction.
  • This is Wise Equity’s 9th, 21 Invest’s 7th, Investindustrial’s 5th and L Capital Management’s 4th transaction in Italy.
Investment Fate
  • Stroili Oro Group was sold to a strategic buyer in 2016.

M&A Deal Summary

Date 2006-04-04
Target Stroili Oro Group
Sector Retail
Buyer(s) Wise Equity
21 Invest
Investindustrial
L Capital Management
Sellers(s) Ergon Capital Partners
Deal Type Secondary Buyout
Deal Value 180M EUR

Target

Stroili Oro Group

Amaro, Italy
website
Stroili Oro Group SpA is an Italian retail chain for jewellery, watches and other affordable gold and silver accessories.

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Buyer(S) 4

Buyer

Wise Equity

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 1.3B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Wise SGR is a private equity investment firm that seeks middle-market buyout and growth capital investments primarily in Italy. Wise looks to invest €5 to €25 million in companies valued up to €75 million. Wise is a generlist investor and will consider opportunities in a variety of sectors, however the Firm has a preference for companies operating in capital equipment, manufacturing, and services. Wise SGR was formed in 2000 and is based in Milan.


DEAL STATS #
Overall 10 of 39
Sector (Retail) 1 of 1
Type (Secondary Buyout) 2 of 5
Country (Italy) 9 of 37
Year (2006) 2 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Mar-ter Spedizioni

Udine, Italy

Operator in the field of port logistics in Monfalcone (Trieste), in particular in the niche market of raw materials logistics for the paper industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-14 Pitagora

Rende, Italy

Pitagora SpA provides IT services for data outsourcing services.

Buy -
Buyer

21 Invest

Treviso, Italy

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

21 Invest is a private equity firm that targets investments in growth-oriented, middle-market Italian, French, and Polish companies operating in a variety of industries. The Firm invests in French businesses through 21 Centrale Partners, Italian companies through 21 Partners SGR, and Polish companies through 21 Concordia. The Firm targets transactions requiring at least €10 million of capital typically in the form of development capital for growth companies, buyout capital for managers, or replacement capital for companies facing succession issues or needing shareholder liquidity. 21 Invest was founded in 1992 and is based in Treviso, Italy.


DEAL STATS #
Overall 19 of 80
Sector (Retail) 1 of 5
Type (Secondary Buyout) 2 of 13
Country (Italy) 7 of 28
Year (2006) 1 of 9
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-01 Mecatherm SA

Baremabach, France

Mecatherm SA develops, assembles and installs automated production lines for industrial bakery products (baguettes, artisan bread, cakes, etc.) worldwide.

Sell €91M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-01 Vulcanic

Neuilly sur Marne, France

Vulcanic is a designer and manufacturer of low and medium-volume series of electrical heating and cooling solutions for the industry (heating elements, industrial radiators, thermo regulators, etc. Vulcanic was founded in 1956 and is based in Neuilly Sur Marne, France.

Buy -
Buyer

Investindustrial

London, United Kingdom

Investor Investor

website


Category Private Equity Firm
Founded 1990
PE ASSETS 11.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Investindustrial is an investment firm focused on creating global leaders through organic growth and acquisitions. The Firm is operationally driven and seeks opportunities in Southern Europe. Areas of interest include services, consumer, retail, leisure, and industrial manufacturing. Investindustrial has offices in London, Luxembourg, Milan, Lugano, Barcelona, Shanghai, and New York.


DEAL STATS #
Overall 11 of 57
Sector (Retail) 1 of 3
Type (Secondary Buyout) 3 of 14
Country (Italy) 5 of 27
Year (2006) 3 of 3
Size (of disclosed) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-03 Svenson

Madrid, Spain

Svenson is a provider of hair restoration treatments and services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-03 Grupo Care

Madrid, Spain

Grupo Care specializes in the management of nursing homes for senior citizens. It is the third largest player in the fragmented Spanish market and manages a portfolio of 21 nursing homes with approximately 2,270 beds.

Sell -
Buyer

L Capital Management

Paris, France

website


Category Private Equity Firm
Founded 2001
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

L Capital Management is a private equity firm that focuses on acquiring businesses primarily in Europe and also look for potential opportunities in North America and Asia. It looks to invests €15 - €60 million in companies with revenues of €30 - €400 million. The firm seeks to hold both minority and majority stake in portfolio companies along with co-investors. Specific areas of interest include personal care and well-being, personal equipment, home and family equipment and selective retailing. Types of transaction include LBO’s and growth capital financing. L Capital is sponsored by the LVMH Group and Groupe Arnault. L Capital was formed in 2001 and is based Paris, France with additional offices in Milan, Italy and Madrid, Spain.


DEAL STATS #
Overall 12 of 26
Sector (Retail) 3 of 5
Type (Secondary Buyout) 1 of 1
Country (Italy) 4 of 8
Year (2006) 2 of 5
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-28 Gant AB

Stockholm, Sweden

GANT is a lifestyle brand for men and women. Epitomizing 'American Casualness with European Elegance', GANT's values are based on the brand's east coast heritage from the start of the company in the USA. Today, GANT is established in 54 countries via 154 GANT stores as well as a great number of selected premium retailers. Over the past 10-year period, company revenue has grown significantly year on year. GANT offers the full range of clothing and accessories for men, boys and babies. Watches, Footwear, Eyewear, Fragrance and Home products are licenses incorporated under the GANT brand name.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-21 La Gardenia Beauty

Grosseto, Italy

La Gardenia Beauty SpA is a operator of retail stores for fragrances and cosmetic products.

Buy -

Seller(S) 1

SELLER

Ergon Capital Partners

Brussels, Belgium

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 1.9B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Ergon Capital Partners is a generalist private equity firm that invests in middle-market companies throughout the Benelux, Italy, Iberia, France, and Switzerland. Ergon looks to invest €25 to €75 million in businesses with sustainable competitive advantages and operating in 'attractive' niche markets. The Firm was formed in 2005 and is based in Luxembourg.


DEAL STATS #
Overall 1 of 15
Sector (Retail) 1 of 2
Type (Secondary Buyout) 1 of 12
Country (Italy) 1 of 4
Year (2006) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-01 The Seves Group

Firenze, Italy

The Seves Group manufacturer of glass and composite insulators for high and medium power transmission and distribution systems, as well as glass blocks for architectural and interior design applications.

Buy €375M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-21 La Gardenia Beauty

Grosseto, Italy

La Gardenia Beauty SpA is a operator of retail stores for fragrances and cosmetic products.

Buy -