Milan, October 4th 2019. Mandarin Capital Partners III (MCP III) has acquired a majority stake in the share capital of Neronobile Srl, an Italian company engaged in the production and distribution of a full range of capsules and machines for coffee and other infusions.
Founded in 2003 and based in Northern Italy near Vicenza, Neronobile has posted €23m sales in 2018 with a robust growth in the latest 4 years (CAGR 26.1%), fueled by the expanding trend of compatible coffee capsules.
The investment is aimed at supporting the international growth of the Company, leveraging on MCP III’s network and business development channels in the European and Asian markets. Furthermore, Neronobile represents a perfect platform for a buy and build strategy aimed at creating a fully-integrated group with control over all segments of the coffee industry value chain. Negotiation with target for potential add-ons are already under way.
The founder and CEO Mr. Giampaolo Furia will maintain 33% of the shares of Neronobile and will continue to manage the company. Furthermore, Mr. Carlo Salvadori (a former top manager of Nestlè and Lavazza, with a deep experience in the coffee industry) will enter Neronobile’s Board of Directors.
Giampaolo Furia, Enterpreneur and CEO, said: ”Me and my family welcome MCP as a new financial partner, and we are eager to start working with MCP’s professionals to bring the company to the next level, tapping into the opportunities offered by the global market”
Lorenzo Stanca, Managing Partner of MCP, said: “Neronobile is an extremely dynamic company, led by a brilliant entrepreneur, with a huge growth potential in international markets. For these reasons we are delighted to invest in Neronobile as the first deal of the new fund Mandarin Capital Partners III. We will fully support Giampaolo and his management team in the implementation of the business plan, as well as in the integration with complementary industry players”.
MCP was assisted by LMCR Law Firm, while the due diligence was conducted by Deloitte Transaction Services (financial due diligence), Deloitte Studio Tributario (tax and transaction structuring), Goetzpartners (business due diligence) and Bilma (HSE and ESG due diligence).
The seller, Giampaolo Furia (who remained invested in the Company) has been assisted by M&C Partners, as a Financial Advisor, and by Pavia e Ansaldo Law Firm.
Equita Private Debt Fund invests alongside MCP in the implementation of Neronobile’s strategy.