Picenum Plast Sells Division to Polieco in Strategic M&A Move
Deal News | Dec 16, 2024 | Finance Community IT - 1 Corporate M&A
Industrie Polieco M.P.B., a prominent player in the manufacturing of high-density polyethylene (HDPE) corrugated pipes, has successfully acquired a division of the Italian company Picenum Plast. The acquisition was executed through a special purpose vehicle (NewCo), allowing Polieco to broaden its product offerings by entering the market for smooth pipes made of PE and PVC. This strategic move strengthens Polieco's market position in the piping industry. Legal advisory for this transaction was provided by Gitti and Partners, while EY acted as the financial advisor. On the other hand, Picenum Plast, which has a presence spanning over 50 years in the production of PE and PVC pipes, was advised by Intesa Sanpaolo's Divisione IMI Corporate & Investment Banking and received consulting support from Mauro Bisci of B&B Consulting. With Picenum Plast's 2023 revenues at €48.2 million and an EBITDA of €13.4 million, the acquisition is expected to enhance industrial synergies and deliver new solutions to the piping market.
Sectors
- Manufacturing
- Corporate Finance & M&A
Geography
- Italy – Picenum Plast is an Italian company, and the acquisition was facilitated by Italian advisory firms.
Industry
- Manufacturing – Both Polieco and Picenum Plast are involved in the manufacturing of piping products.
- Corporate Finance & M&A – The transaction involved financial and legal advisors for corporate finance and M&A activities.
Financials
- €48.2 million – Revenue of Picenum Plast in 2023.
- €13.4 million – EBITDA of Picenum Plast in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Industrie Polieco M.P.B. | Acquiring Company | Company | A company active in the production of HDPE corrugated pipes. |
| Picenum Plast | Target Company | Company | An Italian company with over 50 years of experience in producing PE and PVC pipes. |
| Intesa Sanpaolo - Divisione IMI Corporate & Investment Banking | Financial Advisor to Seller | Company | Provided financial advisory services to Picenum Plast. |
| Gitti and Partners | Legal Advisor | Company | Provided legal advice for the acquisition. |
| EY | Financial Advisor | Company | Provided financial advisory services to Polieco. |
| Mauro Bisci of B&B Consulting | Consultant | Person | Participated in organizing the due diligence process for Picenum Plast. |
| Germano Nicolini | Legal Consultant | Person | Provided legal advice to Picenum Plast. |
| Alfredo Tacchetti | Legal Consultant | Person | Provided legal advice to Picenum Plast. |