Entangled Capital SGR and Capital Dynamics acquire Crestani

December 22, 2021
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EC I, the fund managed by Entangled Capital SGR, and Capital Dynamics, an independent global private asset management firm, today announced the acquisition of Crestani S.r.l, an Italian manufacturer of glass ampoules and vials for the pharmaceutical and cosmetic sectors. Crestani marks EC 1’s and Capital Dynamics’ second transaction in the pharmaceutical glass industry, following the acquisition of SM Pack S.p.A. in September 2020, and creates a group dedicated to the production and sterilisation of ampoules and vials with a combined turnover of about €30 M and top-level profitability.

“Crestani is recognised as a renowned producer of high-quality ampoules”, said Roberto Giudici, co-founder and CEO of Entangled Capital SGR and Chairman of SM Pack, “we are proud that the Crestani family has chosen us to lead the integration project of these two important industrial firms, in order to activate significant industrial and commercial synergies and strengthen their market positioning in Italy and abroad.

Giampaolo Crestani, Chairman of Crestani commented: “We decided to endorse the growth and development project of Entangled and Capital Dynamics, confident that the two companies will achieve together new important milestones by devising innovative solutions for a continuous growth.”

David Smith, Capital Dynamics’ Senior Managing Director, remarked: “The addition of Crestani within the perimeter of the SM Pack transaction concluded last year positions the much-enlarged business as a key innovator and player in pharmaceutical ampoules and sterilised vials, particularly those destined for vaccines, so important to us all today. We are delighted to have enhanced and deepened our already successful partnership with Entangled Capital and the professional CEO of the enlarged group Claudio Baratta.”

Founded in Vicenza in 1950, Crestani is specialised in the production of non-standard, high-technology ampoules for pharmaceuticals and cosmetics, designed to satisfy specific customers’ needs. The company is widely recognised as a trusted supplier of Italian and international pharmaceutical clients and generates 80% of its turnover abroad.

After SM Pack and Nuova Pasquini & Bini, Crestani is the third deal completed by EC I, consolidating its investment strategy focused on family-owned SMEs with significant aggregation and growth potential. In the meantime EC I has achieved its fundraising target and expects to close a fourth deal in Q1 2022.

Legance – Avvocati Associati, PwC, Studio Russo De Rosa and ERM acted as legal, tax, financial and ESG advisor for Entangled Capital SGR, while Maurizio Silvestri acted as financial advisor of Entangled Capital SGR. King & Wood Mallesons and Dickson Minto served as legal counsel of Capital Dynamics. Anteos Capital Advisory and Banco Azzoaglio assisted the company to structure the acquisition financing.

Gianni Origoni Grippo Cappelli & Partners and Paolo Stalla acted, respectively, as legal and financial advisors of the Crestani family.

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