CP ADVISORS NEW YORK MILAN

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CP Advisors advised the shareholders of MIGAL Group, a leading engineering player active in the design and production of forged and machined brass, copper and aluminum industrial components for the water, electric and medical gas industries, on the sale to Equinox.

CP Advisors advised the shareholders of MIGAL Group, a leading engineering player active in the design and production of forged and machined brass, copper and aluminum industrial components for the water, electric and medical gas industries, on the sale to Equinox.

Milan, Italy - 3 June 2021

CP Advisors acted as the exclusive financial advisor to MIGAL Group, the Italian leading process engineering and producer of hot forged and highly automated mechanical machined brass, copper and aluminum components, on the sale to Equinox private equity.

Established in 1983 in Marcheno (BS) by the Mingotti family as a mold producer and mechanical machining services provider, MIGAL is today a well-known and respected process engineering group, comprised of MIGAL S.r.l., Metal Technology S.r.l. and Zucchetti Mario S.p.A., with a leading market position in the designing and production of hot forged and mechanical machined brass, copper and aluminum industrial components, serving the water, electric and gas medical industries.

With a distinctive know-how, state of art production facilities and innovative technology, MIGAL is a leading, well integrated and innovative player in the non-ferrous hot forging and mechanical machining components market, serving several major multinational players in the world, including, among the other, clients such as Itron, Honeywell, Siemens, Schneider, Interpump, Resideo, etc.. MIGAL offers a large range of high-quality products with wide industrial applications across several and uncorrelated business sectors. The Group’s key product family includes, among the other, water meter shells, fluid control valves, high pressure pumps, switchgears, connectors, and medical gas valves.

In 2021 MIGAL is projected to exceed €105 million in revenues with an EBITDA margin in excess of 15%. The Group continues its solid growth both in terms of top line and margins, driven by the significant investments made over the last few years in automation and innovation. The domestic market accounts for approximately 30% of sales, followed by Germany, France, UK and USA.

The industrial project underlying the transaction, originated and run by CP Advisors, creates a leading platform to consolidate the fragmented forging and mechanical machining sector and to further accelerate the international growth of the business organically and through strategic and complementary acquisitions, some of which are already in advanced negotiations.

The entrepreneurs led by the Group’s CEO, Luca Mingotti, together with his brother Alessandro and his cousin Giorgio, will continue running the business while reinvesting a solid minority position (40%).

The CP Advisors team, led by Salvo Mazzotta and Marco Garro, and coordinated in the transaction by the director Giovanni Nucera, originated and managed the sale process assisting the Mingotti family.

Angelo Facchinetti, Equinox leading partner on the transaction commented: “MIGAL is a case of Italian entrepreneurial excellence. The Group's products are appreciated by all the large multinationals in the reference sectors. Equinox's entry into the share capital will allow the Company to continue to pursue its important objectives of organic growth also in new geographical areas and growth by external lines to integrate the product offer to its customers and accelerate growth in important markets such as the United States, Canada and the UK”

"Our Group has always had the propensity to evolve, to grow and today, the opening of the capital represents a further step to continue on the path we have traced from the beginning - added MIGAL CEO Luca Mingotti. - We are very satisfied with the agreement reached with Equinox, which will allow us to further develop our presence in markets around the world. Our goal is to become an increasingly competitive player: we have set ourselves important goals in terms of growth, international expansion and value creation and we have chosen to share this project with Equinox because we believe in its industrial and business approach ".

Commenting on the transaction, Salvo Mazzotta, Managing Partner of CP Advisors added. “We are honored to have assisted the shareholders of MIGAL Group in this process and supported them in identifying Equinox as the most qualified financial and strategic partner for their growth strategy. We will continue to support the Group in its acquisition strategy”.

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