Clearwater International advises CFT Group on the acquisition of a majority stake in CO.MAC Srl
Clearwater International acted as exclusive financial adviser to CFT Group on the acquisition of a 61.72% stake in CO.MAC Srl.
CO.MAC, headquartered in Bonate Sotto (near Bergamo), is an Italian company active in the design, manufacturing and distribution of packaging machineries for food sector, with a specific focus on kegging plants for beer. In 2017, CO.MAC recorded € 33.1 mln of revenues, with an EBITDA Adjusted of € 6.1 mln.
CFT, established in 1945 and based in Parma, is a world leading manufacturer of processing and packaging equipment and turnkey systems primarily for the food and beverage industry; CFT operates worldwide with subsidiaries in ten countries (Italy, Germany, France, Russia, Ukraine, US, Brazil, India, China, Malaysia). Last February, CFT Group announced the business combination, through a reverse merger, with the listed SPAC (Special Purpose Acquisition Company) Glenalta: at the end of the procedure, the group will be listed on the AIM Segment of the Italian Stock Exchange.
Through this acquisition, CFT Group aims to consolidate its competitive positioning in the beer segment, broadening and completing its machineries product portfolio.
The Enterprise Value of the transaction is approximately € 40 mln.