October 2008

Eidos Partners announces the completion of the acquisition by Landi Renzo S.p.A. (“Landi Renzo”) of Lovato Gas S.p.A. (“Lovato”) for a consideration of € 63 million. The sellers are Aletti Private Equity SGR S.p.A. and other minority shareholders.

The transaction further strengthens Landi Renzo’s global leadership in the LPG and CNG fuel systems and components for motor vehicles and represents an additional step in the process for quick expansion in specific high growth markets such as Eastern Europe and India.

This acquisition, in which Mediobanca acted as co-advisor, was mainly financed through the use of funds raised from Landi Renzo’s listing on the Stock Market, completed in 2007 on which Eidos Partners was financial advisor to Landi Renzo.

 

Lovato (www.lovatogas.com), headquartered in Vicenza, is the world's third largest operator in the sector of LPG and CNG components and fuel systems for motor vehicles. For the financial year ended on 31 December 2007, Lovato reported sales of approximately € 39.3 million with an EBITDA, adjusted for non-recurring items, of approximately € 8.5 million.

Landi Renzo (www.landi.it), Landi Renzo is a world leader in the sector of components and LPG and CNG fuel systems for motor vehicles. Based in Cavriago (Reggio Emilia) and with more than 50 years’ experience in the sector, Landi Renzo is distinguished by the sustained growth of its revenues and the extent of its international operations, with a presence in over 50 countries. Exports account for about 70% of its sales. Landi Renzo S.p.A. has been listed in the STAR segment of Borsa Italiana since June 2007.

Eidos Partners is an independent investment bank focused on the design, definition and realization of mergers, acquisitions and disposals of companies, on quotations on the stock exchange, on debt advisory services and on corporate financial restructurings.  Eidos Partners’ mission is to provide the highest-quality financial and strategic advice to Italian companies and to other international companies and entities operating in Italy.

 


Transaction Type
Acquisition

Deal Size
€ 63 million

Industry
Advanced
Manufacturing

Stefano Bellavita
Managing Director
Tel. +39 02 8597.9237
stefano.bellavita@eidospartners.com

Gaspar Santonja
Director
Tel. +39 02 8597.9244
gaspar.santonja@eidospartners.com

Silvia Allegri
Associate
Tel. +39 02 8597.9228
silvia.allegri@eidospartners.com