BS Private Equity, the Italian private equity firm which closed its fourth fund on E550m in August, has taken a 55 per cent stake in Selcom Elettronica, an Italian manufacturer of electronic components.
Financial details for the transaction have not been disclosed, although BS typically invests between E30m and E100m per transaction. Financing for the transaction was arranged by Banca Monte dei Paschi di Siena and Banca Nazionale del Lavoro.
Selcom Elettronica was founded in 1979 in Castelmaggiore near Bologna. It has approximately 800 employees and four production and R&D centres in Italy and Hungary. In 2003, the business is expected to generate turnover of more than E180m.
BS said in a statement that it would look to build Selcom through a series of bolt-on acquisitions with a view to listing the business before the end of 2006.
The deal is the second transaction announced since the firm held a final closing in August. Last month, the firm joined forces with Centrobanca to back a E190m management buyout of Radici Film.