PAVIA e ANSALDO FOR SURFACES IN THE PURCHASE OF ADI
Milan, 23 December 2016 – Pavia e Ansaldo, with a team headed by partner Giuseppe Besozzi with Maria Chiara Puglisi and Dario Rovelli, followed all legal aspects of the purchase by Surfaces Technological Abrasives SpA, leader in the field of abrasive utensils for the lapping of ceramic surfaces, of the entire capital of ADI SpA, leading European producer and seller of diamond based abrasive utensils for ceramic, stone, glass, mechanical and optical industries.
The transaction, structured by Xenon Private Equity (with its founding partner Franco Prestigiacomo) which controls the majority of the capital of Surfaces, is aimed at creating a leading industrial group in the diamond based abrasive utensils for numerous technical applications for industries sintering new generations of materials.
The transaction was in part financed by medium and long term bank debt. Banca IMI and Intesa Sanpaolo as MLA and Bookrunner fully subscribed the financing assisted by Linklaters with a team composed by Antongiulio Scialpi, Daniele Sutto and Sara Astrologo. The sellers were assisted by Studio Casalini Zambon while the purchaser’s financial advisor was Fineurop Soditic with a team composed by Umberto Zanuso and Ilenia Furlanis.
To assist the acquisition, Emisys Capital increased the amount of bond financing originally made available to Xenon to finance the acquisition by Surfaces and was assisted by Studio Gatti Pavesi Bianchi with a team composed by Andrea Giardino and Ivano Sproviero.