EQUITA assisted CMI Group
ItalGlobal Partners has sold the Bologna-based CMI Group, in which it was a 70 percent shareholder, a leading manufacturer of hinges for household appliances with about 150 employees and offices in Italy and Poland, to China's Guangdong Xingye Investment LLC, the controlling holding company of China's listed Guandong SACA Group. The deal includes reinvestment by the founding shareholders and CEO Paolo Santini with a 9 percent stake and a development plan with CMI as a bridgehead to acquire new markets and companies in Europe.
CMI Group was assisted by K Finance, the Italian partner of Clairfield International, for the financial advisory side and Studio Gattai Minoli Agostinelli & Partners for the legal side. SACA, on the other hand, used the Chinese firm Great Wall Securities for the advisory part, PwC for accounting and financial due diligence, and the firm McDermott, Will & Emery for the legal part. The transaction was financially supported by Unicredit.