Entangled Capital realized its 4th deal by acquiring 30% of Turatti
EC I Fund managed by Entangled Capital SGR has closed today its 4h investment acquiring by the Family the 30% of Turatti Srl, the world leader in designing and manufacturing of machinery for vegetable and fruit, which provides tailor-made solutions for the fresh food industry.
In the transaction Turatti’s family is selling its share, leaving the company they established 150 years ago, considered one of the largest suppliers of process solutions for the treating of fresh vegetables and fruit, supplying the main operators in the fourth and fifth ranges market, globally.
Turatti’s solutions, based on proprietary technologies, ensure greater quality and shelf-life for fresh products, significantly contributing to the reduction of the use of water and food disinfectants in the industrial process, to propose solutions with a clear focus on greater sustainability in the working cycle.
The investment realized by the EC I Fund of Entangled Capital, is related to the minority stake owned by the Turatti family, which in December 2019 had already sold the majority of the company shares to the Taste of Italy fund, managed by Dea Capital Alternative Funds.
Entangled Capital will therefore support Taste of Italy in this new phase of development of the company aimed at consolidating its leadership position, in a market niche characterized by interesting growth prospects and exposed to numerous macro-trends related to environmental sustainability.
Despite the restrictions caused by Covid limited the company’s operations in the installation process at a global level, during 2021 Turatti quickly recovered the pre-pandemic levels, closing the year with a turnover of Euro 22 million, 80% of which realized internationally.
Roberto Giudici, Entangled Capital CEO, has commented: “This fourth operation for our EC I Fund is a further confirmation of our investment strategy that is focused on Italian excellences with a strong vocation for environmental and social sustainability, with significant international exposure and with the possibility of consolidation also through future add-ons. We are pleased to co-invest with Taste of Italy Fund in the management of Turatti to continue along the path of growth and strengthening of its positioning on the market. ”
Pierluca Antolini, Taste of Italy Fund Managing Directors, said: “We welcome Entangled Capital, which today gets with us on board on this important innovation and internationalization project and we thank the Turatti family for the path shared so far. ”
Antonio Turatti, Turatti chairman, has declared: “We are sure Entangled Capital and DeA Capital can continue the growth direction that we have traced, making the most of the know-how that the company has been able to generate and increase over time.”
NCTM acted as legal advisor to Entangled Capital, while Anteos Capital Advisors acted as debt advisor in the debt structuring provided by Tenax Capital Fund.
Giovannelli e Associati assisted Taste of Italy Fund in the co-investment agreements.
The Turatti family has been assisted by Pirola Corporate Finance as financial advisor and by Studio Pirola Pennuto e Zei for legal and tax aspects.