Finlogic Bolsters Portfolio with Combigraf Acquisition
Deal News | Mar 26, 2025 | Finance Community IT - 1 Corporate M&A
Finlogic, a company specialized in IT solutions for product coding and automatic identification—backed by major stakeholders such as Credem Private Equity, NB Aurora Holdings, and PM&Partners SGR—has acquired 100% of Combigraf. Combigraf is based in San Polo di Piave, Treviso, and is known for its adhesive label production. This acquisition marks Finlogic’s fourth in just under a year, and it follows the acquisition of Vignoli Graf. Legal advice on the transaction was provided by Gatti Pavesi Bianchi Ludovici, while accounting due diligence was overseen by Epyon Consulting and tax due diligence by RDRA. According to Dino Natale, CEO of Finlogic, this strategic acquisition is a crucial step to fortify the company's presence in North-East Italy. Furthermore, it enhances their technological portfolio in the labeling sector, integrating specialized skills. This comes on the heels of Finlogic's international expansion with the acquisition of Graficas Galegas, a Spanish leader in oil and wine label production. The aggregated revenue for 2024 is projected to surpass 100 million euros. Roberto Gallinelli of Combigraf joins Finlogic as president and administrator, adding value with his experience and know-how.
Sectors
- Information Technology
- Manufacturing
- Private Equity
Geography
- Italy – Both Finlogic and Combigraf are based in Italy, with Finlogic expanding its operations within the country.
- Spain – Finlogic's recent international acquisition of Graficas Galegas marks its first venture into the Spanish market.
Industry
- Information Technology – Finlogic operates in the information technology sector, providing solutions for product coding and identification.
- Manufacturing – Combigraf specializes in manufacturing adhesive labels, positioning it within the manufacturing sector of labeling materials.
- Private Equity – The acquisition is backed by private equity firms such as Credem Private Equity, which is significant in funding and supporting the transaction.
Financials
- 100 million euros – Projected aggregated revenue for Finlogic in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Finlogic | Acquiring Company | Company | Finlogic provides IT solutions for product coding and identification. |
| Combigraf | Target Company | Company | Combigraf specializes in manufacturing adhesive labels. |
| Credem Private Equity SGR | Investor | Company | A private equity firm, a major shareholder in Finlogic. |
| NB Aurora Holdings | Investor | Company | An investor in Finlogic. |
| PM&Partners SGR | Investor | Company | An investor in Finlogic. |
| Gatti Pavesi Bianchi Ludovici | Legal Advisor | Company | Provided legal advice for the acquisition. |
| Epyon Consulting | Accounting Due Diligence | Company | Managed accounting due diligence in the acquisition. |
| RDRA | Tax Due Diligence | Company | Handled the tax due diligence for the transaction. |
| Graficas Galegas | Acquired Company | Company | A Spanish company specialized in label production, recently acquired by Finlogic. |
| Dino Natale | CEO of Finlogic | Person | Chief Executive Officer of Finlogic overseeing expansion strategies. |
| Roberto Gallinelli | CEO of Combigraf | Person | CEO of Combigraf, who will join Finlogic as president and administrator. |