Dell’Era: Merging Strength in Special Fasteners
Deal News | Feb 28, 2025 | Finance Community IT - 1 Corporate M&A
Harcos Capital Partners, through its HCP Fastener Holding, has acquired 100% of Dell’Era Ermanno e Figlio, a company specializing in special fasteners since 1925. Post-acquisition, Dell’Era’s current owners will not only continue to spearhead operations but will also reinvest a portion of the purchase price into HCP Fastener Holding. This strategic move aims to amalgamate and share Dell’Era's industrial expertise with HCP's existing partners. Together with Bulloneria del Toce, the two operating companies now have a combined turnover of approximately €17 million with an EBITDA margin of 30%. The group has ambitious growth plans to achieve a consolidated revenue of around €50 million by 2028 through both organic growth and new acquisitions. DEinternational Italia, Giovannelli e Associati, and Athena Professionisti e Consulenti Associati assisted Harcos Capital Partners on various advisory aspects. Meanwhile, Dell’Era Ermanno e Figlio received financial advice from Nicola Oppio and Paolo Martinelli, and legal counsel from Campa Avvocati. This acquisition positions HCP Fastener Holding as a key player in consolidating the fragmented special fasteners market, aiming for expansion into major European markets, potentially benefiting from the upcoming EU Industrial Deal subsidies.
Sectors
- Industrial Manufacturing
- Private Equity
Geography
- Italy – Dell’Era Ermanno e Figlio is based in Italy, and the acquisition deal involves Italian entities.
- Europe – The acquisition strategy includes expanding into various significant markets across Europe, including Germany, France, and Spain.
Industry
- Industrial Manufacturing – The acquisition involves companies that specialize in the production of special fasteners, a segment within industrial manufacturing.
- Private Equity – The acquisition was executed by Harcos Capital Partners, a private equity firm, indicating the involvement of the financial services sector.
Financials
- 17 million euros – Current combined turnover of the two operational companies, Bulloneria del Toce and Dell’Era Ermanno e Figlio.
- 30% – EBITDA margin of the two operational companies post-acquisition.
- 50 million euros – Future target revenue by 2028 as per the program combining organic growth and new acquisitions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Dell’Era Ermanno e Figlio | Target Company | Company | A producer of special fasteners in operation since 1925. |
| Harcos Capital Partners | Bidding Company | Company | Private equity firm acquiring Dell’Era Ermanno e Figlio through its HCP Fastener Holding. |
| HCP Fastener Holding | Acquisition Vehicle | Company | Subsidiary of Harcos Capital Partners, used as the vehicle for the acquisition. |
| DEinternational Italia | Corporate Finance Advisor | Company | Provided M&A advisory services to Harcos Capital Partners. |
| Giovannelli e Associati | Legal Advisor | Company | Provided legal counsel to Harcos Capital Partners. |
| Athena Professionisti e Consulenti Associati | Financial and Tax Due Diligence Advisor | Company | Conducted financial and tax due diligence for Harcos Capital Partners. |
| Nicola Oppio and Paolo Martinelli | Financial Advisors | People | Served as financial advisors to Dell’Era Ermanno e Figlio. |
| Campa Avvocati | Legal Advisor to Dell’Era | Company | Provided legal advisory services to Dell’Era Ermanno e Figlio. |