November 30, 2022
With the addition of one of the leaders in the sector, the group now ranks its aerosol paint division among the top three European manufacturers.
The Catalan business group Briolf, comprising of several industrial companies in the field of specialty chemicals, has acquired 100% of Areco Italia spa.
Partner, Mauro Bussotti and analyst, Matteo Buttinelli from Translink Corporate Finance in Italy and partner, Narciso Marfa from Translink Corporate Finance in Spain assisted Areco Italia in the role of financial advisor on the sale of the entire share capital of the company to Briolf Group. A legal team from the law firm Laways coordinated by the partner Rocco Rosa supported Areco Italia in the transaction.
Areco specialises in the development and manufacturing of aerosol paints for multiple sectors such as decoration, DIY, and industry, with more than 50 years of experience, located in Abbiategrasso, Lombardy.
With this transaction, Briolf will incorporate revenues in excess of €31 million, based on forecasts for 2022. The group is therefore continuing its commitment to non-organic growth, initiated by the acquisition of the Italian company IMPACAR srl in February. These acquisitions, together with an ambitious expansion and organic growth plan, will enable the company to double its turnover in the next few years as envisaged in a strategic plan launched by the company this year. AZ Capital has advised Briolf on the financing of the process. In 2022, the group expects to close with a growth of more than 20%, reaching a turnover of EUR 220 million once Areco Italia is integrated.
The group’s management believes that with this acquisition “we are making an important quantitative and qualitative leap forward, since it provides a very significant volume of business in a sector that we consider to be key and, at the same time, strengthens our commitment to sector and geographic diversification, an element that is central to the Group’s philosophy”.
The company states that this increased presence in more countries and sectors “makes us more solid in the long term and protects us from the difficulties that different economic cycles can cause. At a difficult time for the national and international economy, this model allows us to continue to grow abroad, while strengthening and generating value in all the companies we have in our country. Our team continues to grow, and this makes us very proud”.
Briolf Group expects to close 2022 with organic growth of more than 20% and to achieve a revenue of €220 million following the integration of Areco.
Contact our Team Members advising in this transaction:
About Translink Corporate Finance
Translink Corporate Finance is a world leader in cross-border mid-market M&A advisory services, specialising in transactions ranging from €10M to €250M. Established in 1972, with over five decades of experience, we get the deal done. We are a trusted global group with over 400 experts worldwide, and a proven track record with long-standing clients and deep sector specific knowledge. At Translink Corporate Finance, we are easy to approach, and our core ethos revolves around the pursuit of sustainable value creation for our clients – whose best interests always come first.
About Translink in Italy
In Italy, through Translink Strempel & Co., it provides advisory services for corporate finance transactions (M&A, debt, fundraising, strategic consulting, and IPOs) thanks to a team that has gained articulated and multidisciplinary experience in some of the most important national and international institutions, industries, Corporate & Investment Banks, and management consulting companies.
About Translink in Spain
Translink Corporate Finance Spain is a leading Iberian M&A firm. With more than 100 years of combined experience, Translink’s five lead partners have successfully advised over 300 transactions in a variety of sectors including: packaging, IT, food, industry, logistics, agribusiness, pharmaceutical, and retail among others.
