Ethica Global Investments S.p.A., together with other co-investors, has acquired 67,5% of Resitape srl, a company engaged in the production of tapes and filaments in Polytetrafluoroethylene (PTFE), destined for numerous industrial applications.
The operation was realized by a Leveraged Buy-Out in which the current owners, Clara Poli and Noel Murray, also participated with a 23% joint share. The remaining shareholding is held by the management and other investors. The operation was supported financially by the participation of UniCredit.
In 2019 Resitape srl achieved sales of about 7,20 million euro, of which more than 80% was from outside of Italy. The company’s performance is above the industry average. The company has ambitious plans for growth both domestically and internationally.
Following the acquisition, the shareholders have appointed Matteo Panizza as the new CEO. Panizza has considerable business experience, also in investment banking and private equity ventures.
Resitape srl, which is based in Liscate (Milano), was founded in 1962, has an engineering background and developed their own processes & hardware to extrude, expand, sinter and cut PTFE fine powders. The company soon established itself as a leader in its niche and its products found uses in a wide variety of industrial applications, among which are aerospace, automotive, sanitation, oral care, medical and technical textiles.
Resitape continues to distinguish itself by supplying customized products in a rapid and focused customer-oriented fashion, while constantly meeting demanding industry standards.
The Ethica Global Investments S.p.A. team consisted of Ruggero Jenna, Francesco Sala and Michele Dugnani, and were supported by Andrea Giardino and Giuseppe Toia of Gatti Pavesi & Bianchi law firm, by Deloitte for financial matters, by Long Term Partners for strategic analysis and by Simone Furian of Terrin & Associates for regulatory affairs.
The sellers were advised by Carlo Pappalettera & Cecilia Cagnoni Luoni of Carnelutti law firm, and were advised by Studio Redaelli & Associati.
Ethica Group, founded in 2010, is composed of a holding and 3 operating companies, engaged in strategic financial operations and investment capital. The activities of the group comprise Advisory Services, in particular Debt Advisory for restructuring and Corporate Finance for M&A, along with Equity Investment for shareholdings in Italian SME’s with a long-term view.
Ethica Group is comprised of professionals holding a significant track record in servicing a demanding list of clients. Since its inception in 2010, the group has completed more than 170 financial operations involving a diverse selection of industrial segments, in cooperation with many entrepreneurs, industrialists, international and Italian investors.
