Aksìa Capital IV acquires CRM, leader in the production of piadine and tigelle for 40 years

09/mar/2018 09:57:10 ESCP EUROPE Contatta l'autore

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Aksìa Capital IV acquires CRM,

leader in the production of piadine and tigelle for 40 years

 

Aksìa Group SGR SpA with the fund Aksìa Capital IV bet on one of the most popular foods in Italy. The new development plan will allow the group of Modena to consolidate its position on the domestic market while at the same time exploiting its foreign potential by exporting another Italian food excellence

 

 

Milan, 9th March 2018 - The independent private equity fund Aksìa Group SGR SpA announces the acquisition of 100% of the Modena-based company CRM, leader in the production of piadine, tigelle, sfogliate, focaccine and pizza bases, distributed for over 40 years under its own brand and on behalf of the best brands among mass market retailers. This is the fourth investment of the Aksìa Capital IV fund.

 

CRM, a company founded in 1974 by Renzo Montagnani and Carla Rebecchi, is an all-Italian success story that over a period of four decades has grown from being a small local producer to one of the main players on the market. The company, which has an annual turnover of Euro 20 million, has always focused on innovation and on the quality of the product and raw materials, always respecting the flavours of the ancient tradition. In recent years CRM has seen the attention of consumers significantly increase towards healthy, light and high quality food and has launched a new line of organic flour, spelled, kamut and wholemeal products, which has been very successful.

 

CRM boasts a state-of-the-art production site of about 16,000 square meters, plus a new automated plant for the production of piadine, the largest in Italy that will double its production capacity, allowing the company to face the challenges of the international market. A key strength is represented by the employees which have been working with passion for over 40 years, contributing to the growth and development of the company.

 

With the transaction, the Montagnani family will pass the management of the company to Aksìa Group SGR SpA which hiring new managerial figures will strengthen the existing structure with the aim of consolidating a strong growth.

 

«We decided to invest in an undisputed leader in this market - says Marco Rayneri, Partner of Aksìa Group -. Our development plan, together with the introduction of a managerial structure and the growth of the company in Italy and abroad, foresees further investments in production capacity, a new marketing and communication strategy and the launch of new products. Furthermore, we will evaluate to strengthen and expand the company also through acquisitions».

 

«We are satisfied with the excellent results we have achieved with our company, Renzo's technical ability - states Carla Rebecchi - has allowed and still allows to produce piadine and tigelle on large scale, keeping alive all the flavours of the tradition». «During these years we have invested a great deal in product research, the best raw materials and the best production technologies, - says Renzo Montagnani - providing the company with all the tools to face the new market challenges that we are confident Aksìa can seize by continuing to invest in the company».


The transaction was financed for 60% through an investment vehicle capitalized by Aksìa in which Equita, with its private debt fund led by Paolo Pendenza, at its fifth investment, fully underwrote a bond loan and invested 6% of the transaction's equity. Furthermore, the transaction was funded for 40% by Banca IFIS S.p.A..

 

Aksìa was assisted from the law firm Accinni Cartolano e Associati (by the lawyer Francesco Cartolano and Matteo Acerbi) for the legal aspects and by other established partners for the due diligence activities: Leo De Rosa, Federica Paiella and Luca Bocchetti from the tax law firm Russo De Rosa Associati, by Marco Ginnasi from EY and by Dr. Alessia Formato from AECOM

The sellers were assisted from the firm Ronchi Commercialisti di Modena and by the lawyer Claudio Previdi from the law firm Previdi e Associati.

Equita was supported in the transaction by the lawyer Marina Balzano, partner of the law firm Pavia e Ansaldo.

Banca IFIS was assisted by the partner Alessandro Fosco Fagotto, by the senior associate Franco Gialloreti and by the associate Silvia Cammalleri from the law firm Dentons Europe Studio Legale Tributario.

 

 

 

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Aksìa Group SGR (www.aksiagroup.com) is a leading independent private equity operator in Italy, founded in 1997 by Marco Rayneri, Nicola Emanuele and Stefano Guidotti. The group manages the 147 million-euro Aksìa Capital III fund, currently in the disinvestment process, whose investments portfolio includes Mep Group and Turbosol; and the Aksìa Capital IV fund which collected over 110 million euros in the investment phase, whose portfolio includes, besides CRM, Alpha Test, Covisian and Lameplast COC Group. Aksìa's approach to investment combines financial and private equity expertise, with qualified business and managerial know-how. The team also includes industry expert entrepreneurs and managers that offer valuable support and contribution in the investments management and analysis, who occasionally participate in transactions as advisers and/or minority investors. Throughout its activity, Aksìa has specialized in the transition of family-run and entrepreneur-run companies into professionally managed companies. 

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The CRM headquarters in Modena and the founders, Renzo Montagnani and Carla Rebecchi

Contacts:

Aksìa Group SGR

T. + 39 02 890463 1

Marco Rayneri (Partner)

marco.rayneri@aksiagroup.com

 

Sara Perillo (Investment Manager)

sara.perillo@aksiagroup.com

 

For more information:

Aksìa Group SGR Press Office

Spin-To s.r.l. - Comunicare per innovare

T. 011 19712375

Elisa Barberis

M. +39 340 1521525 | barberis@spin-to.it

 

Stefano Fassone (Press Office Mgrs.)

M. +39 347 4020062 | fassone@spin-to.it

 
 
 
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