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Astorg to sell power transmission belts manufacturer Megadyne to Partners Group

05 July 2018

Astorg and co-investor Fondo Italiano di Investimento, managed by Neuberger Berman AIFM Limited, along with the Tadolini family, today announced that they have entered into an agreement to sell Megadyne to Partners Group (on behalf of its clients). The transaction is expected to close in the third quarter of 2018 and is subject to customary regulatory approvals.

Astorg and co-investor Fondo Italiano di Investimento, managed by Neuberger Berman AIFM Limited, along with the Tadolini family, today announced that they have entered into an agreement to sell Megadyne to Partners Group (on behalf of its clients). The transaction is expected to close in the third quarter of 2018 and is subject to customary regulatory approvals.

Megadyne develops and manufactures polyurethane and rubber belts for use in power transmission and conveying systems, as well as a range of complementary products such as rubber hoses and metal pulleys. It has its headquarters in Turin, Italy, and serves over 30,000 customers across a variety of industries through 15 manufacturing plants and 33 distribution centers all around the world. The company employs more than 2,300 people and generated sales of EUR 319 million in 2017.

Giorgio Tadolini, CEO and member of the founding family of Megadyne, said: "Thanks to the support of Astorg, we are extremely proud to have accelerated the development of the company my father founded in 1957. We are delighted to participate in the creation of a global industrial belting leader through the planned merger with Ammeraal Beltech. We are convinced that this combination will generate considerable opportunities for all stakeholders in this industrial project."

Lorenzo Zamboni, Partners at Astorg, commented: “We are proud to have supported Megadyne since 2014 alongside the founding family and contributed to the company’s growth story. We have added the skills, investments and market access abilities to further strengthen the leadership position of Megadyne over the world. We would like to warmly thank the Tadolini family for their trust over the years and to wish Partners Group a brilliant journey with Megadyne.”

Lorenzo Baraldi and Stefano Tatarella, respectively Managing Director and Principal of Neuberger Berman, added: “We invested in Megadyne for the first time back in 2012 to support the Tadolini family in their path of organic and external growth, leading to the creation of a world market leader. We’re confident that in the future the company will be able to succeed in continuing in this expansion path under the new ownership.”

About Astorg

Astorg is a European private equity firm with total funds under management of over €4 billion. Astorg seeks to partner with entrepreneurial management teams to acquire European companies and create value through the provision of strategic guidance, experienced governance and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Though not specialized, Astorg has gathered a valuable industry expertise in technology-based industrial companies, healthcare, software and business-to-business professional services. Astorg has offices in London, Paris, Luxembourg, Frankfurt and Milan, plus Senior Advisors based in Zurich, Paris and London.

For additional information on Astorg, please visit www.astorg.com  

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 20 countries, Neuberger Berman’s team is approximately 1,900 professionals. For five consecutive years, the company has been named to Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $299 billion in client assets as of March 31, 2018.

For more information, please visit our website at www.nb.com

Disclaimer:

This is issued by Neuberger Berman Europe Limited, which is authorised and regulated by the Financial Conduct Authority and is registered in England and Wales, at Lansdowne House, 57 Berkeley Square, London, W1J 6ER and is also a Registered Investment Adviser with the Securities and Exchange Commission in the U.S. and regulated by the Dubai Financial Services Authority. This document is presented solely for information purposes and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Any views or opinions expressed may not reflect those of the firm as a whole. The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC.  © 2018 Neuberger Berman Group LLC. All rights reserved.

 

Contact Information

Megadyne

Giorgio Tadolini, CEO

giorgio.tadolini@megadynegroup.com

 

Astorg

Lorenzo Zamboni

T: +33 6 38 66 78 44

lzamboni@astorg.com

Stéphanie Tabouis (Publicis Consultants)

T: +33 6 03 84 05 03

stephanie.tabouis@publicisconsultants.com

Louis Branger (Publicis Consultants)

T: +33 6 76 23 52 85

Louis.branger@publicisconsultants.com

 

Neuberger Berman

Cristina Fossati, Luisella Murtas, Laura Filosi (Image Building)

T: +39 02 89011 300

nb@imagebuilding.it

 

 
© Astorg 2018. Registered in France No. 419 838 545. Astorg Partners is a fund management company approved and regulated by the AMF in France (approval number GP 98-36). Astorg Partners is a registered trademark. Astorg Asset Management is a fund management company approved and regulated by the CSSF in Luxembourg (approval number N. A00001441). Astorg Asset Management is a registered trade mark.