Azimut Libera Impresa acquires control of the group Cbg Acciai: the firms involved

Milan, 5 April, 2022 – Azimut Libera Impresa Sgr, on behalf of the private equity funds Azimut Demos 1 and Az ELTIF – Ophelia, reached together with the Luxembourgish investment group HLD Group, investing as a minority, a binding agreement for the acquisition of 80% of Cbg Acciai, from Xenon Private Equity VII. The family of the entrepreneur Filippini Fantoni will reinvest with a minority shareholding (20%).


The group Cbg Acciai, founded in 1966 and with headquarters in Caronno Pertusella (in the province of Varese), is a pocket multinational: it is present in more than 100 Countries in the world; it occupies a leading position in the manufacturing, transformation and marketing of steel blades: for printing flexible packaging, wood, meat, stone and, recently, it entered the sector of waste recycling. The group closed 2021 with a turnover of 50 million euros and with an Ebitda of around 15 million.


Azimut Libera Impresa and HLD Group were assisted by the law firm Giovannelli e Associati, MN Tax & Legal, Spada Partners and Orrick.


Banca Monte dei Paschi di Siena, Intesa Sanpaolo, Bper and Banco Bpm acted as financing banks, assisted by the law firm Dentons.


For Xenon Private Equity the transaction was managed by Franco Prestigiacomo and Francesco Banfi. The vendors were assisted by Pavia e Ansaldo and Chiomenti as legal advisors.


Spada Partners managed the tax due diligence with the partner Luca Zoani, the senior associates Pasquale Miracolo and Matteo Danelli and the associates Pierpaolo Colucci and Gianmaria Bascherini.


Giovannelli e Associati assisted Azimut with a team composed, for corporate aspects of the transaction, by Alessandro Giovannelli, Matteo Bruni, Claudia Raimondi and Filippo Noci and, for matters relating to the financing, by Valerio Fontanesi and Massimo Giordano.


MN Tax & Legal assisted HLD Europe SA in the investment transaction with the partner Emiliano Nitti, the senior associate Giulia Perizzi, the associate Mattea Carretta and the junior associates Marco Romeo and Chiara Rinaldi.


Orrick, with the partner Pietro Merlino, analysed antitrust aspects of the investment of HLD.


Dentons acted with a team coordinated by the partner Alessandro Fosco Fagotto and made up of the senior associate Tommaso Zanirato and the associate Giulia Caselli Maldonado.


Pavia e Ansaldo assisted Xenon Private Equity with a team composed by the partner Giuseppe Besozzi and the associate Erica Lepore.


Chiomenti assisted the vendors with a multidisciplinary team made up by the partner Luigi Vaccaro with the associates Maria Laura Zucchini and Jacopo Frontali for corporate aspects, the partner Raul-Angelo Papotti and the senior associate Elisabetta Pavesi for tax matters and the senior Fiona Gittardi for labour law matters.