Barclays PE in Italian chemicals MBO

The firm has backed the E16m management buyout of an Italian chemicals group from Italian conglomerate Montedison.

Barclays Private Equity (BPE), the buyout arm of Barclays Capital, has backed a E16m management buyout of the Carlo Erba Reagenti chemicals unit from Italian business Antibioticos, part of the Montedison Group.


The Italian conglomerate has said the sale of the business, which has E5m in debt, is part of its strategy to focus on core energy activities and reduce its debt pile.


Carlo Erba Reagenti, founded more than a hundred years ago, manufactures reagents and labware equipment. In 2002 the company had a turnover of around E40m. The group has production and distribution facilities in France and Italy.


The plan for the company now is to expand its presence in Central and Southern Europe with further product development. Additional acquisitions in Italy will also be pursued, said the group.


BPE has completed more than 300 transactions to date, including the recent £47m management buy-out of fragrances firm Creative Outsourcing Solutions International (COSi) from South African VC, Rand Merchant Bank. The unit invests capital provided by Barclays Group and Parallel Ventures, the UK fund of funds. The firm has offices in London and the British regions as well as Germany, France and Italy.