Aliante Partners spa, the private equity holding company founded in 2006 by Paolo Righetto and Niccolò Fischer, has secured a 160 million euro investment by the secondary market giant Pomona Capital in its mid-market vehicle Aliante Equity 3 spa (see here PrivateEquityWire).
The investment is structured in two preferred equity lines, of which to offer a liquidity option to the vehicle’s current shareholders (including BMO Private Equity Trust, formerly F&C PrivateEquity Trust plc, part of BMO Global Asset Management) and the other to finance add-ons by the four companies in the vehicle portfolio.
Aliante Equity 3 in 2013 had raised 100 million euros and to date has invested in Morato Pane, the second Italian company in terms of volumes produced in packaged bakery after Barilla; in the pasta producer Armando De Angelis; in the vinegar producer Acetificio Carandini Emilio, that was then sold to Prad srl; in the wine producer Contri Spumanti; and in the office furniture specialist Faram.
Paolo Righetto, managing partner of Aliante, commented: “We are delighted to partner with Pomona Capital for the next chapter in Aliante Equity 3’s growth to further realise the potential of our companies as they continue on their value creation path and become global leaders. The transaction is a very good outcome for our existing shareholders as it provides them with the option to realise an exit and provides follow on capital for add-on acquisitions to the companies. The vote of confidence from the secondary market re-affirms the potential of our portfolio and the quality of our team.”
Sebastien Bowen, partner at Pomona Capital, added: “We are pleased to partner with the team at Aliante Partners to provide a bespoke and innovative preferred equity solution, which caters for all stakeholders and enables the underlying portfolio to continue on its successful growth trajectory”.
Pomona Capital was supported on the legal side by Proskauer and Legance, while Chiomenti supported Aliante Partners. The sole financial advisor of the transaction was Cebile Capital, led by managing partner Sunaina Sinha, who commented: “The Aliante Equity 3 preferred equity transaction is a unique and complex GP-led secondary that reflects the growing adoption of preferred equity for liquidity and add-ons for leading mid-market financial sponsors”.