By: Iris Dorbian
Lincolnshire Management has sold Italy-based Fabbri Group, a provider of wrapping machines, films and related parts for the fresh food packaging sector. The buyer is Argos Soditic. Also participating in the sale with Lincolnshire Management was its Italian partners, the Stella Group and IGI. No financial terms were disclosed for the acquisition. William Blair served as financial adviser to Lincolnshire and Fabbri Group on the deal.
NEW YORK, October 2, 2017‐ Lincolnshire Management, Inc., together with its Italian partners the Stella Group and IGI, announced the sale of Fabbri Group to Argos Soditic. Fabbri is a market leader in the design, manufacturing, sales, and distribution of wrapping machines, films, and related parts. They support the fresh food packaging sector, which includes meat, poultry, fish, fruits, and vegetables. Its products, focused on stretch overwrap and modified atmosphere packaging technologies, are sold to food retailers, food processors, and distributors. Over 10 billion products are packed each year through Fabbri’s film and wrapping machines. Founded in 1950, Fabbri is headquartered in Vignola, Italy with manufacturing facilities in Italy and Switzerland and with sales offices and distributors around the world.
Ottavio Serena Di Lapigio, Managing Director at Lincolnshire, stated “Our investment in the Fabbri Group was very successful because we established an excellent relationship with both the management team and the rest of the shareholder group, Stella Group and IGI. These relationships have helped us achieve substantial operating improvements in the company as well as geographic expansion of its sales footprint, particularly in the US as well as Russia. The company’s margins and operating results improved dramatically during our period of ownership and this is particularly due to a very focused management team headed by Elisabetta Oliveri. We wish them continued success in the next phase of ownership.”
William Blair acted as exclusive financial advisor to Lincolnshire Management, Inc. and Fabbri Group for the transaction.
CBA was the sellers’ legal counsel.
About Lincolnshire Management, Inc.
Headquartered in New York, Lincolnshire Management, Inc. has over $1.7 billion of private equity funds under management including the most recent, $835 million Lincolnshire Equity Fund IV. Lincolnshire Funds II and III have been ranked in the top quartile of all private equity funds. With a 30 year history of investing in the lower‐middle market, the Lincolnshire team has deep investment judgement and extensive experience through many cycles and industries.
Lincolnshire invests in acquisitions of private companies, recapitalizations, corporate divestitures, management buyouts and growth equity for public and private companies. Lincolnshire has consistently focused on operating improvements for its 57 platform investments and 31 add‐on acquisitions and has been successful in executing these transactions.
About Argos Soditic
The buyer is an independent private equity group with offices in Brussels, Frankfurt, Geneva, Milan and Paris and has a solid reputation in the middle market. Since its foundation in 1989, the group has executed over 70 Management Buy‐Out and Management Buy‐In transactions, always in partnership with the management team. With Euro 900 million under management, the group develops a unique investment strategy on complex transactions focused on transformation and growth as opposed to pure leverage.