Global law firm White & Case LLP has advised Italian private equity firm IGI SGR S.p.A. and the Chiarva Group on the sale of a 51 percent stake in Gruppo Fabbri Vignola S.p.A. to Lincolnshire Management Inc., the leading private equity firm headquartered in New York.
The sellers are retaining a minority shareholding in Modena-based Gruppo Fabbri, which produces wrapping and tray-sealing machines and film products for packaging fresh food. The company employs 500 people, has production sites in Italy and Switzerland, subsidiaries in France, Germany and the UK and a commercial presence in more than 70 countries.
The acquisition is Lincolnshire's first transaction in Italy and, under its new shareholding structure, Gruppo Fabbri expects to expand in new international markets and further enhance its technical development.
Federico Chiarva, Vice President of the Board at Gruppo Fabbri, said: "The support of White & Case was vital in helping the parties reach a successful outcome on this deal. The London team was proactive, committed and engaged. We were impressed with the support we received on this deal from a team that knows the private equity market extremely well."
London-based White & Case partner Ashley Ballard, who led the team which advised the sellers on the English and US law aspects of the sale, together with London private equity associate Marcus Booth, said: "We were very pleased to support a transaction that heralds an exciting new era in the development of Gruppo Fabbri. The deal also showcased the Firm's ability to harness its strengths to ensure successful outcomes for our clients."
Since the beginning of 2014 the Firm's strong flow of private equity-related work has included advising Polish mobile telecoms operator Play on its inaugural €870 million high yield bond issue, Innovia Group on its debut floating rate high yield bond issue, Avast Software on its sale of a significant minority stake to CVC Capital Partners, Mid Europa Partners on the sale of T-Mobile Czech Republic to Deutsche Telekom, DX (Group) plc's IPO and admission to the AIM market of the London Stock Exchange, the acquisition of ASK Chemicals GmbH by affiliates of Rhône Capital LLC, the acquisition of the Innovia Group by Arle Capital Partners and HgCapital on its sale of interests and re-investment in Visma Group Holdings.
The White & Case team which advised on this transaction was led by London-based partner Ashley Ballard and included London partners Andrew Weiler and Charles Balmain with support from associates Marcus Booth (London) and Christian Holmberg (Stockholm).
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