One Equity Partners has made a minority investment in Nexion, an Italian automotive solutions business. No financial terms were disclosed. Kaleidos Corporate Finance was financial adviser to Nexion while Eidos Partners, Banco BPM and Banca Akros did likewise for OEP.
NEW YORK – DECEMBER 12, 2019 – One Equity Partners (“OEP”), a leading middle market private equity firm, today announced that it has made a significant minority investment in Nexion S.p.A. (“Nexion” or “the Company”), a market-leading automotive solutions business, focused on garage equipment, diagnostics, and advanced driver assistance systems (“ADAS”) aftermarket solutions.
Financial terms of the private transaction were not disclosed.
Founded in 1954 and headquartered in Correggio, Italy, Nexion manages a portfolio of historic brands, including Corghi, Sice, Hpa-Faip, Mondolfo Ferro, Teco, Tecnomotor, Orlandini, Bright, Stenhoj, Sherpa, Autopstenhoj. The Company specializes in tire changers, wheel balancers, aligners, lifts, diagnostics, and ADAS solutions. Nexion has approximately 2,000 employees and 14 manufacturing and design facilities in Italy, Denmark, Croatia, Germany, and China. The Company sells its products from independent repair shops, international aftermarket service companies, original equipment supplier dealers, and traditional and electric vehicle original equipment manufacturers through distributors and its own subsidiaries in over 75 countries globally.
“A partnership with OEP positions Nexion for its next phase of growth,” said Giulio Corghi, Chairman of Nexion. “Over its 65-plus year history, Nexion has developed a track record of introducing market-leading products and acquiring and integrating strategic brands. With OEP as our new partner, we can accelerate our organic and inorganic growth trajectory in our traditional garage equipment products, as well as our new ADAS offerings.”
“Nexion is an exceptional business serving the global automotive aftermarket for more than 65 years, where it is experiencing strong demand for its innovative products,” said Steve Lunau, a Director at OEP. “We’re pleased to partner with CEO Cinzia Corghi and her team who have transformed Nexion into a leading global supplier of diversified wheel and tire servicing equipment across Europe, Asia-Pacific, South America, and North America.”
OEP has strong experience investing in and growing aftermarket vehicle maintenance and repair businesses, including Walterscheid Powertrain Group, a leading provider of original equipment and aftermarket parts and services for off-highway powertrain applications; USCO, a leading supplier of aftermarket and OEM parts to the global earthmoving machinery industry; and, The W.W. Williams Company, a provider of truck repair, vehicle fleet support, logistics and packaging solutions and power generation products.
Chiomenti served as legal advisor to Nexion, while Kaleidos Corporate Finance was financial advisor and Studio Morandi served as tax advisor.
Freshfields served as legal advisor to OEP and Eidos Partners, Banco BPM and Banca Akros were financial advisors, and FRM Tax was tax advisor.
About One Equity Partners
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long- term value for its partners. Since 2001, the firm has completed more than 180 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com
About Nexion S.p.A.
With more than 60 years of history, today the Nexion Group is a world leader in the automotive sector. Experience and continuous research into innovation with more than 400 patents registered, now coexist in a single group, which brings together the sector's top brands in a solid and increasingly international company. For more information, please visit www.nexion.it