BDA advises Sofipa on sale of Kiian SpA
Divested Kiian SpA, a specialty inks manufacturer, to Wise and Alcedo
Business Development Asia LLC (“BDA”) is pleased to announce that its client, Sofipa SGR SpA (“Sofipa”), on behalf of the closed end fund Sofipa Equity Fund (“SEF”), has agreed to sell its 100% stake in Kiian SpA (“Kiian”) to Wise SGR SpA (“Wise”) and Alcedo SGR SpA (“Alcedo”), two Italian private equity firms. BDA served as joint financial advisor with Eidos Partners. Subject to Banca d’Italia approval, the closing of the transaction is expected to take place in December.
Kiian, headquartered in Como, Italy, is a leader in the development, manufacture and sale of specialty inks used in the screen printing and digital printing industries. Kiian operates through five production sites (in Italy, China and Spain) and three distribution centres (Italy, Netherlands and Spain). Products are sold under three brands – Manoukian Argon, Visprox and KFG – in 96 countries worldwide.
Valentina Franceschini, partner of Wise, and Maurizio Masetti, managing partner of Alcedo, commented, “Kiian is an excellent example of an Italian SME with an international profile and a strong export orientation. Kiian has all the prerequisites to exploit the opportunities linked to the evolution of printing technologies on an international level, with particular reference to the textile sector in which Italy is at the forefront. This investment is in line with the strategy of our funds to invest in SMEs with a leadership position in their respective markets and strong growth potential.”
The sale of Kiian represents the seventh exit carried out by Sofipa on behalf of SEF and SEFII, resulting in an accumulated capital gain for the funds of €60m, a 1.8x cash multiple, on realized investments.
Sofipa SGR SpA manages the closed-end private equity funds SEF and SEFII with assets under management of €305m. Sofipa SGR SpA, part of the UniCredit Group, is the object of a Sale and Purchase Agreement regarding the sale of 100% of its share capital, between UniCredit SpA, as vendor, and Cuneo e Associati SpA and Paolo Zapparoli, shareholders of Synergo SGR SpA, as acquirers. www.sofipa.unicredit.it
Wise SGR SpA manages private equity closed-end funds investing in small and medium sized companies, with a special focus on Italy. www.wisesgr.it
Alcedo SGR SpA, an independent fund management company controlled by its management, is one of Italy’s most experienced private equity firms and a leader in growth capital investments. The investors are Italian banks and foundations, international fund of funds and Italian entrepreneurs. www.alcedo.it
Business Development Asia is an investment banking firm that advises on international mergers and acquisitions. We specialize in cross-border transactions involving Asia, with enterprise values up to US$1bn. We have a strong track record advising North American, European, and Asian firms on cross-border transactions. BDA was named Investment Banking Firm of the Year by The M&A Advisor in December 2010. BDA is headquartered in New York with offices in London, Beijing, Shanghai, Hong Kong, Mumbai, Bahrain, Seoul and Tokyo. www.bdapartners.com
For more information regarding this transaction, please contact Andrew Huntley in London on +(44) 20 7182 4518.
Divested China phenolic resins plant to Red Avenue
Divested Epolin Chemicals to Chroma Color
Divested Asian electronic cleaning chemicals business to Nippon Kayaku
Divested Chrysal International to OAT Agrio Ltd
Divested plant health business in Japan to Nisso
Equity capital raise and new Asian partnerships
Divested Indian emulsion polymer business to Apcotex Industries
Cristal (Saudi Arabia) agreed to acquire Jiangxi Tikon TiO2 (China)
Sold stake in An Giang Plant Protection to Standard Chartered
Divested a majority stake to Navis Capital Partners
Acquired the organic pigment business of Jiangsu Multicolor
Divested Continuous Filament Mat business to Stonewood Capital
Divested Shanghai subsidiary to CPIC, China
Acquired Changzhou Pulanna Coating Co Ltd
Divested building materials business of Henkel Korea to Mapei of Italy
Acquired Lablndia distribution business in India
Divested Eliokem to Omnova
Divested Clariant Masterbatches (Korea) Ltd to Dong Bang Chemical
Divested Arkema Guangzhou Chemicals to Hoe Seng Co
Divested Coates Toners to MBO Team