Cosimo Vitola
Ethica Group
Toscotec S.p.A.
Deal Type
Company sale
Sector
Industrials
Completion Date
11th March 2016
Deal Value
Not disclosed
Company Background
Toscotec is a world leader in the design and production of turnkey plants and machinery, as well as a first class supplier for components and services dedicated to the global paper and tissue industries.
Since 1948, Toscotec offers complete production lines, plant retrofits, turnkey projects, and individual machinery. Headquartered in Lucca, the nerve center of the Italian paper district, with offices in China and North America, the Group serves all the leading paper producers with customized solutions, leveraging on the experience gained in more than 60 years of activities. Key to the Group’s success is machinery innovation and energy saving, and the partnership with customers.
Toscotec currently employs approximately 180 people.
With innovative technological process solutions and a wide products portfolio the Group has gained, through the years, a significant position in the worldwide market. It has doubled the EBITDA since 2011, and recorded over €100 million in total revenues in 2015, out of which approximately 90% are generated outside Italy.
Deal Summary
Ethica Corporate Finance advised the shareholders of Toscotec on the sale of the 40% stake to Synergo SGR, an Italian private equity firm focused on mid-market transactions in Italy.
Synergo’s minority acquisition of Toscotec provided a partial exit for the existing family shareholders whilst Alessandro Mennucci, the current CEO, with an experience of more than 20 years in the industry, will continue to lead the Group.
Value Added
In a very specialised niche segment, Ethica marketed this investment opportunity to only a handful of buyer candidates and then introduced Synergo to the shareholders. Ethica advised the founding family - formed by a number of members not involved in the business - on the new shareholder structure, allowing the existing shareholders to remain in full control while benefiting from the strategic and financial support of the investor.
