- Wise Equity acquired Special Flanges in 2021
- Special Flanges is a special forged component manufacturer
- PMV and Down2Earth Capital are the sellers
Hertecant Flanges is a forging and machining manufacturer of stainless steel and Ni-alloy components and is based in Westerlo, Belgium.
The investment will be made via Wisequity V fund.
The deal will create substantial value, both in terms of product portfolio range and geographic coverage and will allow the combined group to strengthen its market position with around €100 million in revenues, over 80 percent of which generated outside Italy, according to a release.
Mark Dewachter, CEO, and Ron Deckers, CFO, at Hertecant Flanges, will continue to lead the company after the completion of the deal.
The transaction was led by partner Fabrizio Medea and investment manager Paolo Zucchi at Wise Equity.
“The two companies have a great fit and we believe the group has strong foundations to continue its growth path and further enhance its positioning also thanks to the value generation coming from potential synergies,” said Zucchi.
Special Flanges is a special forged component manufacturer based in Lombardy, Italy.
Wise Equity is a private equity firm that invests in small and medium-sized companies with a focus on Italy. It is based in Milan.
PMV is an infrastructure investor with a portfolio of €1.7 billion under management. It is based in Brussels.
Antwerp, Belgium-based Down2Earth is an independent private equity fund that focuses on small and medium sized transactions.
No financial details of the transaction were disclosed.