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  5. PHI Industrial Acquires Covit S.L.

M&A Deal Summary

PHI Industrial Acquires Covit S.L.

On July 19, 2010, private equity firm PHI Industrial acquired manufacturer Covit S.L.

Acquisition Highlights
  • This is PHI Industrial’s 1st transaction in the Manufacturing sector.
  • This is PHI Industrial’s 1st transaction in Spain.

M&A Deal Summary
Date 2010-07-19
Target Covit S.L.
Sector Manufacturing
Buyer(s) PHI Industrial
Deal Type Divestiture

Target

Covit S.L.

Torelló, Spain
Covit S.L. is a manufacturer of anodized aluminum packaging pieces for perfume, cosmetics, and pharmaceutical industry. The main products manufactured by Covit are bottle necklaces, covers, tops, lipsticks cylinders, among others.

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Buyer(S) 1

Buyer

PHI Industrial

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

PHI Industrial is a generalist private investment firm focused on acquiring non-core divestitures or family-owned companies facing succession issues. PHI will consider opportunities across Europe generating revenues of €20 to €250 million. PHI Industrial was formed in 2006 and has offices in Barcelona and Madrid.

DEAL STATS #
Overall 1 of 15
Sector: Manufacturing M&A 1 of 2
Type: Divestiture M&A Deals 1 of 8
Country: Spain M&A 1 of 13
Year: 2010 M&A 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-11 TORRAVAL Cooling S.L.

Leioa, Spain

TORRAVAL Cooling S.L. manufactures cooling towers and heat exchangers and additionally offers high-quality installation and complete maintenance services to the energy, refrigeration and H.V.A.C markets.

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