The Catalan corporate group Briolf, comprising several industrial companies in the field of specialty chemicals, announced the agreement through which it has acquired 100% of Areco Italia spa.
Areco specialises in the development and manufacture of aerosol paints for multiple sectors such as decoration, DIY and industry, with more than 50 years of experience, located in Abbiategrasso, (Lombardy).
With this deal, Briolf will incorporate revenues in excess of €31 million, based on forecasts for 2022. The Group is therefore continuing its commitment to non-organic growth, initiated with the acquisition of the Italian company Impacar srl in February. These acquisitions, together with an ambitious expansion and organic growth plan, will enable the company to double its turnover in the next years as envisaged in strategic plan launched by the company this year. AZ Capital has advised Briolf on the financing of the process.
The Group’s management believes that with this acquisition “we are making an important quantitative and qualitative leap forward, since it provides a very significant volume of business in a sector that we consider to be key and, at the same time, strengthens our commitment to sector and geographic diversification, an element that is central to the Group’s philosophy“.
Briolf Group expects to close 2022 with organic growth of more than 20% and to achieve a revenue of €220 million following the integration of Areco.
For the legal aspects of the acquisition, Briolf Group was assisted by Nunziante Magrone and Areco Spa was advised by Laways.
The financing for the acquisition was granted by a bank syndicate led by Caixabank, counselled by DLA Piper.
RocaJunyent advised Briolf on this deal with a team led by partner Xavier Foz, together with lawyers Joaquim Via, Marc Rovira and Javier Rodríguez.