EQUITA assisted IMR Automotive

K Finance - Mid-market M&A advisory
IMR 700x1050
IMR 700x1050

IMR Automotive S.p.A., a leader in molding exterior plastic components for the luxury car and truck industry, has acquired 81.25% of Industrialesud S.p.A., an Italian company active in the same sector. The remaining 18.75% was purchased by Simest, the arm of Cassa Depositi e Prestiti supporting Italian companies.

For IMR Automotive S.p.A., K Finance, the Italian partner of Clairfield International, acted as financial advisor, Shearman & Sterling LLP as legal advisor. Accounting, Environmental and Business Due Diligence were completed by KPMG, Roland Berger and Tauw.

The transaction was financed by a syndicate of banks, led by Banca IMI, and included full refinancing of the two companies´ debt.

Matteo Galmarini, a member of IMR´s family of owners and the company´s CFO, said: ´We are very pleased with the acquisition of IS, which will enable us to preside even more effectively over the European automotive market and further diversify our offering. The transaction was long and complex and the role of K Finance was fundamental in managing all the players involved, counterparty, the pool of banks and Simest.´

The transaction in a nutshell

2017 03 Tombstone IMR SIMEST IndustrialeSud

Through the transaction, Industrialesud will enable IMR Automotive to preside even more effectively over the European automotive market and further diversify their offerings

Client:
IMR Automotive
Date:
March 2017
Mandate:
IMR has acquired 81.25 % of Industrialesud
Role:
Financial Advisor
Value:
Undisclosed
Typology:
M&A advisory
Advisor:
EQUITA Mid Cap Advisory

The company

IMR offers as "tier 1" services and products to the most prestigious car manufacturers including Ferrari, Maserati, Porsche, Audi, BMW, employing about 1,300 employees in six different plants located in Northern Italy (3), Spain (1) and Germany (2) with a turnover of about Euro 200 million in 2016 and an Ebitda of about 11%. IMR´s growth strategy is based on an ambitious acquisition project. Thanks to the IS deal and internal growth, the Italian group expects to achieve consolidated sales of about Euro 370 million in 2017.

Industrialesud is focused on the design and production of plastic components for luxury car interiors, with sales of about Euro 155 million in 2016 and an EBITDA margin of more than 10 %.