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Company: Fintyre S.p.A.
Industry: Tyres Distribution
Acquisition Date: 13 February 2009
BlueGem Stake: 32.76%
Status: Portfolio Company
Website: n.a.
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On February 13, 2009
BlueGem signed an Investment Agreement to acquire a minority
stake in Fintyre S.p.A. through a capital increase.
Fintyre is the largest replacement tyres wholesale distributor
in Italy, resulting from the merger of the two largest players
in Italy.
The combined entity will be the leader in the replacement tyres
wholesale distribution market in Italy with approx. €250
m of revenues, over 4 million of units sold and approx. 14% market
share, with the second largest distributor 4.5 times smaller
than the Company.
Following the integration, Fintyre will have 107 sales agents
and will operate from 16 warehouses, achieving national coverage
and efficient logistics.
BlueGem is entering in this transaction alongside Sofipa SGR,
an Italian private equity fund that has been investing in this
business since the beginning of 2007. BlueGem and Sofipa will
have a majority stake in the combined entity through the syndication
of their stakes.
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