Italian private equity firms Igi sgr and NEIP III (owned by Finint & Partners) sold their stakes in Vimec, an Italian company producing
stairlifts, homelifts, platform stairlifts and mobile stairclimbers for elderly and disabled people, to Stokholm-listed investment holding Latour Industries, MF Milano Finanza writes today.
Vimec is aiming to reach about 50 million euros in revenues in 2017 after having posted abour 45 millions in 2016.
Founded in 1980 in Luzzara (Reggio Emilia, Northern Italy), Vimec operates through its direct subsidiaries in Spain, France, UK and Poland and through a network of more than 300 distributors in 60 countries.
This sale is the first one for Igi Investimenti Cinque and Igi Investimenti Cinque Parallel funds which had bought a 67% stake in Vimec in 2015 together with NEIP III (32%) and the management (1%) (see here a previous post byBeBeez). Back then Igi sgr and NEIP IIIhad bought Vimec from Emerald fund, managed by PM&Partners spa, owning a 90% stake, and from Sigefi (8%) and previous shareholders.
Igi sgr has been managing Igi Investimenti Cinque and Igi Investimenti Cinque Parallel funds (previously named Arca Impresa Tre and Arca Impresa Tre Parallel) since 2013 after Igi sgr had bought Arca Impresa Gestioni sgr out.
More in detail, Arca Impresa Gestioni sgr had raised 73 million euros for the Arca Impresa Tre fund in 2009 and other 20 milioni million euros for Arca Impresa Tre Parallel, a fund specifally launched for accepting committements from Fondo Italiano d’Investimento sgr in Deember 2011. Since their closing till the day of the sale of Arca sgr to Igi sgr, however, the two funds had not invested a euro. Under Igi sgr’s management, starting in 2013, the two funds have instead invested in Vimec, Rollon, Fimotec and Bracchi, having invested about 70% of their committments.