21 Invest has signed a binding agreement for the sale of Nadella, one of Europe’s leading producers of linear guides and rollers for industrial motion applications, to ICG Plc, a British asset manager with over €Bn 27 in assets under management and a long term approach to investing.
Acquired by 21 Invest in 2014, throughout the holding period Nadella expanded both internationally and in its product offering, also thanks to the acquisition of some strategic players, namely:
• Durbal, a German rod ends producer and later its US distributor, strategic to boost penetration of the US market, both in 2014;
• BK Systemtechnik, a German producer of ball screw drives, in 2015, to expand Nadella’s product range;
• The EU distribution business of needle bearing products (Koyo brand) of Japanese multinational Jtekt, in 2016;
• 4Linear, a German producer of telescopic guides, a strategic product for Nadella, in 2017;
• Chiavette Unificate, an Italian rod ends manufacturer, key to further expand Nadella’s product range and strengthen its position in the rod ends segment, in 2018.
Moreover, 21 Invest led the company in streamlining its operations with the consolidation from three old facilities to a new one in Italy, obtaining also a significant increase in production capacity. On the back of these targeted actions, Nadella is today present in over 60 countries and in 4 years of 21's tenure has increased sales by over 60% and nearly doubled Ebitda, which are expected to reach, respectively, €M 70 and €M 18.5 in 2018.
Livio Marchiori, CEO of the company, will reinvest and is committed to further boosting Nadella’s growth going forward both organically and through continued targeted acquisitions as experienced under 21’s tenure.
Alessandro Benetton, Founding Managing Partner of 21 Invest, said: “I am very pleased with the results achieved by Nadella, a company that we supported in transforming into a more structured industrial group with significant development on international markets. It is another example that makes us proud to have contributed to creating an excellence in ‘Made in Italy’ machinery.”
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