Bain Capital Private Equity and BC Partners enter into joint ownership agreement for Fedrigoni
July 26, 2022 By PrintAction Staff
Bain Capital Private Equity, a global private investment firm, has signed definitive documents to enter into joint ownership agreement for Fedrigoni, a global producer of self-adhesive labels and fibre-based packaging products, with BC Partners, an international investment firm.
“We are excited to welcome BC Partners as a new partner in Fedrigoni,” said Ivano Sessa, chair of Fedrigoni Holding Limited and co-head of industrials at Bain Capital Private Equity Europe. “We have partnered with Marco Nespolo and the rest of the management team over the last four years to transform Fedrigoni and create a global leading platform in luxury packaging and labels. In this next phase of the journey, we will work with all our partners to continue building on the great success that Fedrigoni has achieved, with a focus on strengthening its global leadership and delivering sustainable packaging solutions to an outstanding set of global luxury and consumer brands.”
Stefano Ferraresi, partner at BC Partners, said, “We are delighted by this opportunity to invest in Fedrigoni, a leader in sustainability focused packaging. We have long admired the quality of the Fedrigoni management team, and its operations built under Marco Nespolo’s leadership. We are confident this partnership with Bain Capital will create significant growth opportunities across the business. We share Marco’s vision and ambitious growth agenda and view Fedrigoni as the ideal platform to invest in this attractive segment of the market, with scope to continue to build on its leading positions in luxury packaging and labels and broaden its product portfolio through acquisitions and strategic partnerships.”
“The whole Fedrigoni leadership team and I are thrilled to continue our very ambitious growth path in partnership with Bain Capital and BC Partners”, said Marco Nespolo, CEO of Fedrigoni. “The last four years have seen Fedrigoni undertake a very comprehensive and successful transformation on product portfolio, geographic footprint, go-to-market, operating model, culture, and governance. This has been possible, thanks to the great partnership with and strong support by Bain Capital. We look forward to sharing the next leg of the journey with an additional, very relevant investor and partner, whose trust makes us feel honoured.”
This new partnership, a combination of reinvestment by Bain Capital and investment from BC Partners, results in a change of control of Fedrigoni to joint control between Bain Capital and BC Partners. The Fedrigoni family, already a partner of Bain Capital as a minority shareholder, will remain invested in the business as the entire management team.
The transaction is expected to close by the end of 2022, subject to approvals by relevant regulatory authorities. A group of financial institutions has committed to provide a debt financing package in support of the transaction. Fedrigoni’s existing senior secured notes are expected to be refinanced at closing of the transaction.
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