DGAP-News: Capvis AG / Key word(s): Alliance
Baar, 11 November 2020
Rubiera (Reggio Emilia, Italy) and Baar (Switzerland), 11 November 2020 - ARAG Group (ARAG), the specialist for components and solutions used for spraying, weeding and precision farming, signed today an agreement with Capvis Equity V LP, a fund advised by the Swiss investment company, Capvis AG (together, "Capvis"). Both will join forces to continue the ongoing implementation of the existing development path that has made ARAG a reference in its field of activity.
The agreement provides for the acquisition by Capvis of a majority stake in the capital of ARAG. The current owners, led by the Montorsi family, will continue to support the Group's development by remaining as significant minority shareholders and managers.
The agreement is particularly aimed at strengthening ARAG's global presence, continuous client support and seizing new market opportunities.
Founded in 1976, ARAG is today one of the world's leading producers in its sector with a global presence supported by four foreign subsidiaries (Australia, Argentina, Bulgaria and Brazil), as well as four subsidiaries in Italy (Mastrolab, Ynnova, AM Torneria and ASJ) and a sales network covering over 110 countries. ARAG is experiencing strong growth in 2020, and is set to realise consolidated sales this year in excess of EUR 85 million.
Completion of the transaction is subject to approval from the relevant authorities.
Chairman and CEO Giovanni Montorsi commented: "The partnership with an international leader like Capvis makes us particularly proud because it demonstrates the mountain we have been able to climb. In 45 years of history, ARAG has achieved excellent results due to teamwork for which I have to thank employees and collaborators. With Capvis we will be able to face new and exciting challenges to strengthen our global leadership".
Giovanni Revoltella, Partner at Capvis commented: "ARAG has demonstrated for 45 years that it understands and anticipates the needs of their global client base. In partnership with its shareholders and managers we are happy to continue this path, in order to further strengthen the innovative product development and global sales penetration. Our sector experience and contacts are a very good foundation for the cooperation with the founding families".
In the operation, the Montorsi family and the other selling partners were assisted for legal advice by the firm Giovannelli e Associati, in particular by the partner Matteo Colombari and a team of professionals composed of Alberto Corolla, Giulia Contestabile and Beatrice Mattioni; for tax advice and advisoring, by Studio Verona Dottori Commercialisti in the person of the partner Alessandro Verona.
Capvis was assisted for legal advice by Chiomenti, in particular by the partner Franco Agopyan together with Giovanni Colantuono (senior associates) and Carlotta Frattari (associates); by Banca Akros as financial advisor; by Deloitte Financial Advisory (Guido Manzella) and Deloitte STS (Francesco Saltarelli and Elena Cardani) for financial, tax and payroll due diligence.
Banco BPM provided the acquisition financing package.
Capvis is a Swiss private equity investor. As the exclusive Capvis fund adviser, Capvis AG primarily acquires majority stakes in leading medium-sized technological firms in Switzerland, Germany and Austria. Its activity is founded on its longstanding experience in creating local and global market leaders in the fields of healthcare, industrial technology and advanced services & software. Entrepreneurial cooperation with strong management teams ensures that the potential of companies is developed to the full while creating long-term values.
11.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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