Migal sells 60% stake to Equinox

Migal, the Italian aluminium industrial components manufacturer, has sold a 60% stake to Equinox, according to an Italian-language press release by the private equity firm.
 
Financial terms were not disclosed.
 
Closing is expected in the first 10 days of July.
 
Vendor the Mingotti family will continue to hold the remaining 40% of the stake and continue to hold top positions in the company.
 
Equinox had Shearman & Sterling as legal advisor, Gatti Pavesi Bianchi Ludovici as tax advisor, Roland Berger as business advisor, PwC as accountant and ERM as environmental advisor.
 
Migal had CP Advisors as M&A Advisor, Pedersoli as legal advisor and KPMG as accountant
 
Migal has turnover of around EUR 100m and an EBITDA margin of around 15%. 60% of turnover is generated abroad, according to the release.