Wise SGR acquires Primat Srl

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Wise SGR has completed the acquisition of Primat Srl through the closed-end fund Wisequity III. The transaction was financed by the Muzinich Italian Private Debt fund.

Primat Srl, headquartered in Olginate (Lecco, Northern Italy), provides protective treatments intended for the coating of fasteners and small components used in a variety of fields with a focus on the automotive sector.

Wise will support the company expansion plan, in line with the current management team vision.

This includes a three-year investment strategy focused on organic growth alongside acquisitions of complementary businesses that can generate synergies.

The acquisition was financed by the issuance of a €15m note. This note was the first fully underwritten by the Muzinich Italian Private Debt fund, a closed-ended, mini-bond fund for the financing of medium sized Italian companies promoted and managed by Muzinich & Co.

With this transaction the fund has invested over 65% of this capital.

Fabrizio Medea (pictured), Partner at Wise, commented: “We are delighted to announce the acquisition of another excellent Italian SME. The company and its management team are the ideal platform, in terms of market vision and industrial skills, to implement a strategic growth plan which is the DNA hallmark of all funds managed by Wise SGR.”

Camillo Rumi, the CEO of Primat stated “I am very confident and upbeat about the future – Wise has shared their development strategy going forward which integrates our important investment plan with the potential to explore existing opportunities in the market. This will provide additional momentum to the growth of the company.”

Valeria Lattuada, head of the Muzinich Italian Private Debt Fund, said: “We are delighted to announce the closing of the first investment for the fund with the subscription of a flexible debt instrument that enabled to meetthe Wise execution timeframe while at the same time supporting Primat’s growth initiatives.”

 

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