Milan (Italy), 20 September 2018 – Apax Partners, the Paris-based leading European private equity firm, has reached an agreement with SK Capital to acquire 100% of AEB Group, a worldwide leader in biotechnological ingredients and related services for wine, food and beverage. The company’s management will reinvest alongside Apax Funds.
Leveraging their expertise in biotechnology and oenology, AEB Group offers custom solutions based on more than 600 proprietary products and specialty equipment, especially designed for the wine, beer, juice, cider and food industry. With a unique coverage across 5 continents, AEB Group employs more than 300 persons, including 170 agents and sales representatives in 13 countries. The company has 8 production units, 4 R&D laboratories and 7 quality control laboratories globally and collaborates with more than 20 universities and research institutes to foster continuous innovation.
In 2017, the company generated revenues of nearly €100 million.
The company’s objective is to pursue its international expansion by leveraging the existing worldwide sales and agents network and to conduct an ambitious buy and build strategy.
Financial terms of the transaction are not disclosed. Closing of the transaction is expected in the beginning of October.
Mario Tomasoni, CEO of AEB Group said: “It has been a pleasure working with SK Capital for the past 3 years. SK Capital supported our evolution, and notably our significant commercial growth. The management welcomes the support of Apax Partners, a leading and strong financial organization, with an excellent knowledge of the European market. We will work together with Apax Partners to accelerate our development in food, beer and beverage sectors, as well as to further strengthen our leadership in the sector of oenological products.”
Bertrand Pivin, Partner at Apax Partners and Francesco Revel-Sillamoni, Head of Italy said: “We are extremely pleased to work with Mario and his team to pursue and accelerate AEB Group’s growth in the years to come. AEB meets all the criteria we look for when investing: a strong management team with a clear strategic vision and the ability to execute it, a highly differentiated value proposition to clients worldwide and a culture of constant innovation and technological improvements. Our investment also illustrates our strong will to invest in Italian world class companies.”
Aaron Davenport, Managing Director at SK Capital said: “We have been delighted to partner with the management and employees of AEB and all of us at SK Capital wish them continued success with their new shareholders. The company has grown significantly during our ownership, driven by investments in innovation and commercial excellence as well as the acquisition of Innotec, and we are proud of the accomplishments we have made together.”
About AEB Group
AEB Group is an Italian multinational company based in Brescia, leader in biotechnological solutions for wine, beer, juice, cider and agro-food industry. AEB has been present on the market for more than 50 years relying on an extensive and complete product range, with over 600 state-of-the-art products as well as equipment, hygiene, filtration and detergent solutions. AEB Group stands out by offering a unique and customized service and combining high added value with staff expertise and local presence.
About Apax Partners
Apax Partners is a leading European private equity firm based in Paris. With more than 45 years of experience, Apax Partners provides long-term equity funding to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €3.3 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation: TMT, Consumer, Healthcare and Services.
About SK Capital
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and pharmaceuticals sectors. The firm seeks to build strong and growing businesses that create substantial long-term economic value. SK Capital utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth and profitability as well as lower operating risk. For more information, please visit www.skcapitalpartners.com.
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