goetzpartners delivers due diligence services to two Italian deals

20 August 2021 Consultancy.eu 3 min. read

European strategic consulting firm goetzpartners has seen two of its deal mandates in Italy close this month. 

At the start of this week, private equity groups Stirling Square Capital Partners and Deutsche Beteiligungs announced their acquisition of Italian industrial waste recycling business Itelyum. London-based Stirling Square Capital Partners took a majority stake in Itelyum, while Deutsche Beteiligungs purchased a minority stake in the company. Meanwhile, the management team of Itelyum has also taken a stake in the firm as part of the transaction. 

goetzpartners provided commercial due diligence services to Deutsche Beteiligungs, which financed the deal through its DBAG Fund VII. While Deutsche Beteiligungs primarily invests in Germany, Itelyum is the firm's second deal in Italy, following its investment in pre-wired conduits manufacturer PM Plastic Materials in August last year.

goetzpartners delivers due diligence services to two Italian deals

Established in 1963, Itelyum specialises in recycling complex streams of hazardous liquid waste, including waste oil and industrial waste. The company, which currently employs over 800 people and operates 25 plants, was already backed by Stirling Square, and has under its stewardship grown from a local, family-owned company into a European leader across its lines of business.

Marco Codognola, CEO of Itelyum, said: “Since our association with Stirling Square we have kept growing both organically and through the integration of a number of acquisitions. These have allowed Itelyum to further its know-how and footprint, and ultimately to consolidate an innovative business model that meets and often anticipates our customers’ need for sustainable services.”

Earlier this month, Fondo Agroalimentare Italiano I and Azimut Libera Impresa acquired a majority stake in Gruppo Albert, a leading Italian manufacturer of semi-finished and finished products for ice cream parlors and pastry shops. goetzpartners delivered the commercial due diligence for the buyers, flanked by Grant Thornton which provided the financial and tax due diligence. 

Gruppo Albert was founded in 1981 and currently serves roughly 850 customers across Europe, including ice cream parlors, pastry shops and distributors with a strong foreign presence. The firm has a particularly strong presence in Italy and Germany, and is aiming to expand its footprint in the coming years through both organic and inorganic means. 

Francesco Orazi, Director of Fondo Agroalimentare Italiano I, said: “Through our network of contacts in the agri-food sector, we will be particularly active in supporting Gruppo Albert’s growth and development and strengthening its competitive position.” 

Entrepreneur Enrico Libralato, the CEO of the company, holds a minority stake in Gruppo Albert. He stated: “Backed by recognised investors such as Fondo Agroalimentare Italiano I and Azimut Libera, we are convinced that we are well positioned to develop our leadership position in the ice cream and pastry ingredients sector.” 

Commenting on its support to the deals, Giovanni Calia, Managing Director at goetzpartners in Italy (a former partner at EY and L.E.K. Consulting) said: “We are proud to have supported these deals.”