Fredericks Michael & Co. acted as the exclusive financial advisor to Officine Meccaniche Giovanni Cerutti S.p.A on the divestiture of its die-cutter manufacturer subsidiary Iberica AG S.A. to Koenig & Bauer AG, a global leader in the production of printing presses.
Through this transaction, Cerutti has succeeded in selling a non-strategic asset, allowing it to increasingly focus on “web” packaging equipment.
“The KBA Group delivers 70% of its presses to companies in the growing packaging market. Sheetfed offset presses from KBA-Sheetfed have an outstanding position worldwide for folding carton printers. With this in mind, adding flatbed die-cutters to our portfolio for the same customer group makes perfect sense,” says Claus Bolza-Schünemann, president and CEO of KBA.
FM&Co. advised Cerutti on a multi-step engagement process which included preparation of selling materials, contacting potential buyers, coordinating due diligence process, transaction structuring, and assistance in the negotiations through closing of the transaction.
Officine Meccaniche Giovanni Cerutti S.p.A (Allesandria, Italy) is a world leading manufacturer of rotogravure presses for publication and packaging printing, converting equipment, and flexographic presses for newspaper printing. Founded in 1920, the group is comprised of five companies with sales agents and after-sales assistance centers around the globe. For more information, please visit www.cerutti.it
Iberica AG S.A. (Barcelona, Spain) manufactures medium and large-format flatbed die-cutters for board and corrugated packaging. It is the second largest manufacturer of cutting and creasing machines in the world by sales. Founded in 1940, it was acquired by Cerutti in 1999, and currently has around 60 employees. It has more than 50 blanking units working all over the world in countries like France, Germany, Italy, England, Australia, Mexico, Chile, and the U.S. For more information, please visit www.ibericaag.com
Koenig & Bauer AG (Bavaria, Germany) manufactures and distributes printing presses worldwide for practically every sector, generating revenues in excess of EUR 1 billion. Employing nearly 5,000 people in total, KBA operates as a holding company for its three main business lines: KBA-Sheetfed Solutions, KBA Digital and Web Solutions, and KBA-Special Solutions. KBA shares have been listed on the Frankfurt and Munich stock exchanges for 25 years. For more information, please visit www.kba.com