News

The 8th M&A International Inc. Mid-Market Forum, held in Milan, Italy on 21 November, was attended by over 350 senior industrialists, M&A advisors and bankers.

Professor Alberto Alesina opened the Forum by sharing his views on the current global financial crisis. He noted that the crisis has generated a large anti-market reaction and even a more anti-liberism retort, with talk of the end of capitalism, the death of the financial system, the return to state intervention, the end of globalization and state supremacy over the market.

However, noting that the past 20 years have seen a level of economic stability and growth never previously experienced, Professor Alesina expressed optimism that the combined efforts being made by both developed and developing economies would see a relatively quick return to stability and growth.

Following Professor Alesina’s presentation, a panel of experts from Thomson Reuters, UniCredit, the Hay Group, and Arietti & Associati considered potential measures which could be taken to promote growth and allow confidence to return to the markets. The audience of over 350 industrialists, advisors and senior bankers also expressed their views on these measures via the live voting system. The key conclusions were:

• Taxation policy has limited ability to immediately resolve the current crisis
• The Private Equity industry will not be shut down by the credit crunch
• Corporates will continue to prefer acquisitions over organic expansion to achieve growth
• Many of the recent, hastily put-together acquisitions will have significant problems regarding integration
• M&A opportunities will be greatest in China, and Central and Eastern Europe

The record number of number of attendees at the 8th Mid-Market Forum clearly indicates that despite the current market situation, the appetite for doing deals remains high.  The event focuses on generating M&A deal activity, and is based on a “speed-dating format”.  In total over 1,300 one-to-one meetings were held during the Forum.

Coesia SpA (Coesia) has acquired 100 percent of the shares of Sirius Machinery AB (Sirius) from the Swedish investment company Nordstjernan AB (Nordstjernan).

Coesia is an Italy based leading company active in the automatic packaging machinery business for various consumer goods and printing as well as inspection systems for the pharmaceutical industry. Coesia had a turnover in 2007 of 659 Million Euro and approximately 3,400 employees, with manufacturing facilities in 6 countries (Italy, Germany, Spain, Switzerland, USA and Brazil) and branches in 13 countries.

Sirius is a world leading supplier of tube filling, cartoning, lipstick filling, feeding and handling machinery. It provides complete packaging machinery systems for customers within the segment of cosmetics, pharmaceuticals, toiletries and food. Sirius has manufacturing facilities in Sweden, France and China, a turnover in 2007 of 77 Million Euro and approximately 500 employees.

Nordstjernan, established in the 19th century, is one of the most renowned investment companies in Sweden.

«With this acquisition of Sirius, Coesia has strengthened its position among the first packaging machinery business in the world and in particular in the sector of cosmetic industry» says Marco Casiraghi (CEO of Coesia). «The excellent fit that exists between Sirius and Coesia will allow our group to better serve our clients in the cosmetic industry with complete and innovative packaging solutions supported by distinctive life-cycle service and support packages».

Claudio Malpensi (Head of M&A and business strategy of Coesia) says «M&A International Inc. (i.e. Arietti & Partners and Avantus) has been of key importance in this International acquisition. Italy and Sweden are not distant countries but the differences in culture and way of making M&A transactions have made our negotiations challenging. In the end with the assistance of M&A International Inc. we have achieved our goals and a successful deal».

Arietti & Partners originated the deal and represented the buyer throughout.