K Finance has advised Olivotto Industries in the sell of Olivotto Glass Technologies to the Italian Private Equity Fund Star Capital.

Star Capital Fund, led by Marco Gazzaniga, has bought 71,4% of the Company for an enterprise value of Euro 16.4 mln and the CEO will re-invest in the new company for 28,6%.

Olivotto Glass Technologies is an engineering company specialized in the production of machines and plants for the manufacturing of hollow glass items such as tableware and special hollow glassware (light bulbs, glass tubes, vials, laboratory wares, glass bricks, etc.).

OGT has two international subsidiaries:

• Lynch Technologies LLC, an American competitor acquired in 2007 and today active in the supplying of hollow glass spare parts, technical assistance, revamping and retrofitting;
• Olimerk Plc, a Turkish joint-venture established in 2009 in order to delocalize the purchasing of mechanical parts and components.

In 2010, Olivotto Glass Technologies achieved Euro 24.7 mln of production value and Euro 3.3 mln of EBITDA.

Olivotto Industries is owned by Mr. Giulio Napoli (60%) and the Italian private equity fund Cape Natixis (40%).

Besides K Finance, Olivotto has been legally advised by the law firm “Marena D’Angelo & Fagotto”. Advisor to Star Capital has been “Russo De Rosa Bolletta & Associati”.