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M&A Deal Summary

Jøtul Acquires AICO

On November 7, 2018, Jøtul acquired consumer products company AICO from Ambienta

Acquisition Highlights
  • This is Jøtul’s 2nd transaction in the Consumer Products sector.
  • This is Jøtul’s 1st transaction in Italy.

M&A Deal Summary
Date 2018-11-07
Target AICO
Sector Consumer Products
Buyer(s) Jøtul
Sellers(s) Ambienta
Deal Type Add-on Acquisition

Target

AICO

Palazzolo sull'Oglio BS, Italy
AICO S.p.A. is an Italian manufacturer of residential stoves, fireplaces, boilers, and cookers. AICO offers a wide range of premium home heating products that are energy efficient and utilize pellets, a renewable energy source. The business features two well-established brands; Ravelli and Elledi and they are exported to more than 40 countries. Headquartered in Palazzolo sull’Oglio, Italy, AICO’s 150 employees oversee the design, manufacturing and in-house testing to ensure all products comply with European quality, safety, and environmental compliance standards.

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Buyer(S) 1

Buyer

Jøtul

Kråkerøy, Norway
Category Company
Founded 1853
Sector Consumer Products
Employees800
Revenue 920M SEK (2014)
DESCRIPTION

Jøtul is a manufacturer and distributor of cast-iron stoves and fireplaces, inserts and cassettes. Jøtul has a strong global market position through the group’s primary brands Jøtul and Scan. Manufacturing mainly takes place in Norway and Denmark, with smaller units in France and the US. The company’s products are sold worldwide through its sales subsidiaries and distributors. Jøtul was founded in 1853 and is based in Kråkerøy, Norway.

DEAL STATS #
Overall 2 of 2
Sector: Consumer Products M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
Country: Italy M&A 1 of 1
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-25 Hammerstrøm AS

Tistedal, Norway

Hammerstrøm AS is a manufacturer and supplier of chimney renovation and maintenance products for stoves and fireplaces.

Buy -

Seller(S) 1

SELLER

Ambienta

Milan, Italy

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 3.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Ambienta is a pan-European middle-market investor focused on acquiring rapidly expanding companies capturing long-term environmental trends. The Firm will consider opportunities throughout Europe and looks to commit €30 to €100 million per transaction. Ambienta was formed in 2007 and is based in Milan, Italy.

DEAL STATS #
Overall 7 of 14
Sector: Consumer Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 6 of 9
Country: Italy M&A 5 of 10
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-16 Lakesight Technologies Holding

Unterschleissheim, Germany

Lakesight Technologies Holding GmbH is a buy-and-build platform in the machine vision sector. Machine vision systems are devices for optical sensing that are able to automatically receive and interpret images to control machines or processes in real time. Lakesight Technologies Holding GmbH is based in Unterschleissheim, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-21 Nactarome

Bresso, Italy

Nactarome is a European platform developing and manufacturing natural flavors, colors and ingredients for the food, beverage and life sciences industries. Nactarome develops and manufactures a diversified portfolio of high-quality, natural taste and colors solutions that are applicable across the food, beverage and life sciences industries. Nactarome is based in Bresso, Italy.

Buy -
Mergr

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