Thursday, November 21, 2013

Consilium toward the first closing of its new fund

Consilium SGR, is approaching the closing of its latests fund currently in fund raising, which will be held at €80 million. Consilium SGR operates since 2006 with its closed-end fund Consilium Private Equity Fund (CPEF), with an endowment of €150million, which has a duration of 10 years and an investment period of 6 years. Of the so far realized 8 investments, four are still in its portfolio, while four have been divested. Among these we find Consilium share in Rollon sold to Chequers Capital (20% of the capital) and IGI SGR S.p.A. (70%), while the residual 10% remained in the hands of the management, led by CEO Eraldo Bianchessi, who reinvested. The company, with Headquarter in Vimercate (Milan), is a leading Italian manufacturer of linear rails and actuators. The Group has subsidiaries in France, Germany and USA. In 2010, Ardian (previously Axa Private Equity), the premium independent private investment company and Consilium acquired the majority of Rollon to support its domestic and international growth strategy. According to BeBeez, the transaction occurred on the base of a company valuation, debt included, at roughly €100 million, i.e. 6 times the expected EBITDA for the end of 2013, which is slightly increasing with respect to the €16,2 million in 2012, in the face of a turnover of €53.9 million, the 80% being realized abroad. The acquisition has been financed for the half with equity and for the other half with debt financed by Unicredit

Last July the company acquired the control of Celli SpA. which has become the leading Italian player in the drink dispensing system and accessory sector, and one of the main reference points at European level. With headquarter in San Giovanni in Marignano (Rimini), Celli registered in 2012 a consolidated turnover for €32.6 million (33 in 2011), of which the 70% realized abroad, with an EBITDA of €3.5 million (from €3.9 million) and a financial debt of €10.6 million (€ 11.6 million).
Founded in 2005 by Antonio Glorioso and Stefano Iamonti, previously responsible of the private equity activity in Kairos PartnersConsilium SGR is a leading independent asset management company fully dedicated to private equity. Consilium manages since 2006 the Consilium Private Equity Fund (CPEF)a closed-end fund reserved to qualified investors with €150million under management. CPEF focuses on buy-out and development capital opportunities targeting small and medium sized companies in Italy. Consilium acquired in july 2006 the management of Kairos Partners Private Equity Fund (KPPEF). The fund ended 6 divestments and was liquidated in 2011.