(Finance) – A club deal of private investors organized by Deal Source Italia has completed the acquisition of 100% of Stalam’s share capital from the IdeA Efficienza Energetica and Sustainable Development fund managed by DeA Capital Alternative Funds SGR in partnership with the company’s management.
Established in Vicenza in 1978, Stalam is a world leader in the development, design and manufacture of radio frequency (RF) equipment for the drying and heat treatment of raw materials, semi-finished and finished industrial products.
Over the years the company has diversified the application sectors of its machinery by expanding the range for the textile sector (dryers for fibres, yarns, fabrics) and textile-technical (dryers for glass fibres, latex foams, felts, etc. .) then developing specific solutions for the food sector, in which radiofrequency technology is used for the rapid defrosting of meat, fish and fruit and vegetables, for the pasteurization of liquid and solid products, both in line and after packaging, for the disinfestation and sanitization of dried fruit, grains, cereals etc. and for controlling the final humidity level of bakery products after cooking in traditional ovens.
Furthermore, thanks to the continuous research and development activity, Stalam has also grown in the pharmaco-cosmetic and nutraceutical sector (for example sanitization of medicinal herbs, denaturation of animal feed).
Stalam operates through 4 plants between Italy and China, employs 120 people and has a network of over 70 agents and distributors and 19 assistance centers worldwide. In 2022, the Stalam group achieved a consolidated turnover of around 23 million euros.
Stalam was acquired by Dea Capital Alternative Funds in 2016 through a management buyout and was the last holding in the portfolio of the IdeA Efficienza Energetica e Sviluppo Sostenibile fund.
Deal Source Italia will support Stalam in a further phase of expansion, supporting it in organizational development and growth activities also through acquisitions.
Giuliano Palazzo and Andrea Valenti, respectively Managing Director and Investment Director of DeA Capital Alternative Funds: “We are very happy with the growth path undertaken together with Stalam since 2016 and with having contributed to consolidating world leadership and sector diversification while maintaining a strong focus on technological innovation”.
Sergio Buonanno, co-founder of Deal Source Italia and new President of Stalam with responsibility for development: “We have known and appreciated the company and its management for a long time. Despite the excellent journey already made with DeA Capital, we are convinced that there is still ample room for growth and diversification to be seized in order to create value for our investors, some of whom will assist us in defining the group’s strategic development”.
Daniela Ingrosso, co-founder of Deal Source and former administrator of Stalam for some years he added: “We plan to replicate with Stalam the same virtuous approach that Deal Source has already experimented with Pietribiasi, made up of clarity of objectives, management discipline, alignment of interests and assiduous discussion and dialogue with management for a constant improvement of business results”.
Enrico Zanetti, managing director and shareholder of Stalamwho will continue to lead the company while also remaining a shareholder, said: “I am delighted to embark on this new entrepreneurial adventure by being able to count on a competent and cohesive management team, as well as on investors with clear and perfectly aligned objectives on the development potential that our company and our technology are able to best express and on Unicredit, which has proven to be a partner of absolute reliability and flexibility”.
DeA Capital and the other Stalam shareholders received the assistance of Fineurop Soditic as exclusive financial advisor, of the Ashurst law firm and of Pwc for the accounting part.
Deal Source Italia is an advisory company created by Sergio Buonanno and Daniela Ingrosso, focused on buy-out operations of industrial SMEs in the form of club deals and supported by a stable group of investors including Banca Ifis.
Deal Source Italia was advised by DWF (legal due diligence), by Pavia & Ansaldo (legal assistance and tax due diligence), by Spada Partners (financial due diligence) and by ERM (ESG due diligence).
The operation was supported by UniCredit, which intervened with an 11 million euro financing line which, together with the capital contributed by the club deal and by Stalam’s managers, made it possible to complete the acquisition. UniCredit made use of the Orrick law firm for the preparation of the financial documentation.