BC Partners-backed Keter Group to buy Clessidra’s stake in ABM Italia

Italian private equity fund manager Clessidra has agreed to sell its stake in ABM Italia to Keter Group, which is backed by BC Partners. No financial terms were disclosed. The deal is expected to close in the first half of 2017. ABM Italia is a European maker of high-end resin storage systems for domestic and office applications.

PRESS RELEASE

Clessidra SGR S.p.A., today announced that it has signed a definitive agreement to sell all outstanding shares of ABM Italia S.p.A. to Funds advised by BC Partners (“BC Partners”) through their participation in Keter Group.

ABM Italia is one of Europe’s leading manufacturer of high-end resin storage systems for domestic/office applications such as cabinets & shelves and storage boxes.

Matteo Ricatti, Managing Director at Clessidra, commented:

“We are delighted to have reached this agreement. We also feel privileged to have accompanied ABM Italia in its transformation from an entrepreneurial to a managerial organisation. This acquisition by BC Partners marks a new era for the company.”

Mario Fera, CEO of Clessidra, commented:
“The ABM Italia transaction is a clear example of how Clessidra can add value to its portfolio companies. We privately sourced the acquisition of ABM Italia, supported the growth of the company and accelerated its international development.”

Closing of the transaction is expected by the first half of 2017 after the clearance of the competent Authorities.

The deal team at Clessidra included Matteo Ricatti, Alessandro Matteo and Maurizio Fanetti. Clessidra was advised by Studio Gatti Pavesi Bianchi for legal matters and Studio Pirola for tax matters.

About ABM Italia
Established in 1972, ABM Italia is a major manufacturer of resin storage systems for domestic/office applications which are sold under the Kis brand mostly in Europe and North America. The Group operates also in the medical sector through the brand AP Medical with the production of disposable resin containers for sharps and special hospital waste. In terms of production footprint, the Group employs c. 600 employees over its 3 production facilities in Italy and Canada.

About Keter
Keter Plastic is one of the world’s leading manufacturers and marketers of resin-based household and garden consumer products, which are sold in 90 countries and found in more than 25,000 retail outlets worldwide. With a focus on innovation driven by consumer insight, Keter provides a wide range of furniture, storage and organization solutions. Our ongoing commitment to simplify and enhance the daily lives of consumers has been key to our global success.

About Clessidra
Clessidra is the leading manager of Private Equity funds dedicated to the Italian market, with assets under management of c.€2.5 billion. Established in 2003, Clessidra is part of Italmobiliare S.p.A., the Italian Investment Holding controlled by the Pesenti Family. Over the years, Clessidra has played an active role in creating value for its investments. Since inception, Clessidra has completed 21 investments in companies with a total enterprise value of over €18 billion and is currently investing its third fund, which was closed in November 2016, with total commitments of c.€600 million.