Aluminium extrusion dies manufacturer Phoenix International has been acquired by private equity firm Ambienta SGR for an undisclosed amount.
Europe’s leading private equity investor Chequers Capital on Monday announced the sales of its portfolio company Phoenix.
{alcircleadd}Phoenix, headquartered in Verdello, Italy, designs, produces, sale aluminium extrusion dies for the construction, transportation and industrial markets. The Group has eight plants in Europe, the US and the Middle East. Revenues for 2018 came in at EUR 91 million.
Roberto Rusticelli, CEO of Phoenix International, said: “Over the tenure of Chequers, Phoenix has grown from its solid foundation as a South European leader to become the undisputed world leader in the dies market through acquisitions in Germany and the US and the development of a greenfield plant in the MiddleEast.”
“The management team is increasing its share in the new transaction led by Ambienta, with Chequers reinvesting as well. We are very well positioned to further consolidate our market share in Europe and expand in the US and Middle East markets.”
Phoenix’s reference market for aluminium extrusion dies is estimated to be around EUR 1 billion and is projected to grow by 4-5% over the next 5 years.
Philippe Guerin, Managing Director of Chequers International, said: “We are extremely happy with what we have achieved with Phoenix in such a short timeframe. My thanks and congratulations go to Roberto (Rusticelli, CEO) and his outstanding team, who have put a tremendous effort in delivering such excellent results; we have a great confidence in them and in the business, which is the reason why we have decided to re-invest. This transaction is a very good example of how at Chequers we like to partner with management teams and entrepreneurs, by providing them all our support, but still allowing them to operate autonomously and remain in the driver seat.”
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