Giorgio Carere
Ethica Group
International Chips S.r.l.
Deal Type
Company sale
Sector
Industrials
Completion Date
12th March 2019
Deal Value
Not disclosed
Company Background
International Chips, based in Domodossola (VB), is active in the production of abrasive products and is the owner of the “ECOS” system, a technology which allows customers to attain optimal results avoiding the use of chemicals and water. As a matter of fact, International Chips is currently the only manufacturer of this system, being the owner of an exclusive patent for such product.
C. Besati & C. S.r.l., based in Agrate Brianza (MB), acts as the commercial subsidiary of International Chips and holds long lasting relationships with high-standing clients active in the fashion, ceramics, industrial, building, mechanics, aerospace and eyewear sectors.
Deal Summary
Ethica Corporate Finance advised the shareholders of International Chips S.r.l., an Italian leading manufacturer of abrasive products for polishing and mass-finishing applications, and its commercial partner C. Besati & C. S.r.l. (together “International Chips”) in the sale to Surfaces, the world leading supplier of advanced tools for ceramic tile lapping and polishing treatment.
International Chips will become a synergic add-on for Surfaces, a company acquired by Astorg, a French PE Fund, in July 2017. Surfaces Technological Abrasives is the world leading supplier of advanced tools for ceramic tile lapping and polishing treatment that has recently completed several acquisitions. International Chips is expected to enlarge Surfaces product portfolio with ECOS technology, bringing a leading system with a huge potential demand to be exploited. International Chips will benefit from the acquisition by entering a leading international group that will enforce its distribution capabilities worldwide.
Value Added
Ethica managed a competitive sell-side process including both PE Funds and strategic buyers and leveraged on its knowledge of the market and players also thanks to its profound experience related to previous deals in the sector, adding value to the shareholders both in terms of economics and in terms of finding the best strategic partnership.
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