IMR Automotive S.p.A. (´IMR´), a world-class supplier in the manufacturing of exterior parts for the luxury cars and truck industry, acquired 81.25% of Industrialesud S.p.A. (´IS´), an Italian company active in the same industry. The remaining 18.75% has been acquired by Simest S.p.A., Cassa Depositi e Prestiti arm, focused on supporting Italian Enterprises.

For IMR Automotive S.p.A., K Finance, Italian partner of Clairfield International, acted as financial advisor, and Shearman & Sterling LLP as legal advisor. The Accounting, Business and Environmental Due Diligences were carried out by KPMG, Roland Berger and Tauw.

The deal was financed by a Pool of banks, headed by Banca IMI, and it has envisaged the refinancing of the total financial debt of the two companies.

IMR offers, as “tier 1”, services and products to the most prestigious car manufacturers in the world, among which Ferrari, Maserati, Porsche, Audi, BMW, employing approximately 1,300 workers in six different plants located in Northern Italy (3), in Spain (1) and Germany (2), with 2016 sales in the range of Euro 200 Million and an Ebitda margin of 11%. IMR’s growth strategy is based on an ambitious industrial plan for acquisitions. Through the acquisition of IS and the internal growth, the Italian group expects to reach a consolidated turnover in the range of Euro 370 Million in 2017.

Industrialesud is focused on the designing and manufacturing of plastic components for the interior parts of luxury cars, with 2016 sales in the range of Euro 155 Million with an Ebitda margin North of 10%.

Matteo Galmarini, shareholder of IMR and Chief Financial Officer of the Italian group, said: “We are very satisfied to have acquired IS. It will allow us to cover more efficiently the European automotive market and to widen our offer. The purchase process was very long and tough and K Finance role has been crucial in the coordination of all the players involved, both the counterparts and the Pool of banks and Simest.´