First deal for Gradiente III fund

Padua, 29 May. 2024
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First deal for Gradiente III fund

First deal for the Private Equity fund Gradiente III, managed by Gradiente SGR, which has completed the investment in Cromoplastica C.M.C. S.r.l., a leading player in decorative finishes for the beauty, household appliances, luxury plumbing and interior design sectors.

Founded in 1978 in Castelli Calepio (Bergamo), Cromoplastica was a pioneer in offering galvanic decorative treatments on plastic, which it is currently able to supply in 50 different fully industrialized finishes. Thanks to its constant research and innovation, combined with the great flexibility of its working processes, the company is a reference partner for important domestic and international customers. In 2023, Cromoplastica achieved a turnover of approximately 16 million euros.

Gradiente III acquired a 70% percent stake in the company, while the remaining 30% will be held by the two founding family members, Marco and Flavio Giovanni Loda, who will continue to manage Cromoplastica.

Marco and Flavio Giovanni Loda comment:

“This transaction represents an excellent opportunity for company growth, with a view to strengthening the business and expanding the range of complementary services offered to all our customers. We are pleased to welcome Gradiente, with whom we fully share objectives and vision for future development.”

“We are very pleased with the investment in a leading player in its sector such as Cromoplastica. We believe that the company has an interesting potential for growth, which, also through a targeted acquisition strategy, will enable it to create a reference point in the field of decorative solutions,” comments the Gradiente SGR team. Gradiente III, whose first closing took place in late January, represents a continuation of the strategy of previous funds managed by Gradiente. The fund, in fact, is in the Italian mid-market segment and is characterized by its operational approach to the management of Investees and acquisition activity, on a national and international scale, even at a post-investment stage. The Investors of Gradiente III are leading Italian, European and American institutional investors.

The Gradiente team that followed the operation is made up of Pietro Busnardo, Carlo Bortolozzo and Alberto Calgaro. Gradiente availed itself of the assistance of NCTM Advant Studio Legale for the contracts, legal due diligence and structuring of the operation, Boston Consulting Group for the business due diligence, PwC for the accounting and tax due diligence, Ramboll for EHS due diligence and KPMG for ESG due diligence. Equity Factory acted as buy-side advisor.

The sellers were assisted by Fabio Barbò and by BLF Studio Legale for legal assistance. The acquisition operation was financed by a syndicate of banks led by Cassa Centrale Banca – Credito Cooperativo Italiano, also supported by Banca di Credito Cooperativo di Brescia, a member of the Cassa Centrale group which operates in the Cromoplastica C.M.C. area. Cassa Centrale was assisted by Eversheds Sutherland.

 Unicredit acted as:

  • origination of the opportunity and coordination thanks to Private Banking Lombardia;
  • advisor for Scouting thanks to the Business Advisory team.

Notary assistance was provided by Studio Notoria of Padua.