H.I.G buys majority stake in fasteners distributor Berardi Bullonerie

H.I.G. Capital said that one of its affiliates has purchased a majority stake in Berardi Bullonerie, an Italian distributor of fasteners and supplier of integrated logistics services, for an undisclosed price.

Established in 1919, Berardi Bullonerie has 14 warehouses in Italy in addition to commercial offices in Croatia and Morocco.

Raffaele Legnani — H.I.G. Capital Managing Director and head of Italy office said: “Berardi has a position of undisputed leadership in Italy, proven by a growth rate in the last ten years well above the market and by an impressive track-record as a partner of choice for top-notch industrial companies, thanks to its value-added service offering and a best-in-class management team.

“We are excited to support the management in the next phase of the Company’s development and we believe that we can provide an important boost to the growth, primarily by supporting an aggressive acquisition strategy, taking advantage of the high fragmentation of the market.”

Giovanni Berardi, who is the CEO of Berardi Bullonerie and a shareholder of the company, will re-invest, along with other family members, alongside H.I.G. Capital.

Commenting on the deal, Giovanni Berardi said: “The entry of an international alternative investment fund such as H.I.G. in Berardi represents a recognition of the work carried out over the years and of the great growth potential of our Company, which has a leading position in the sector and a growing share of high value-added services.

“With the support of H.I.G., Berardi will be able to develop faster, thanks to a combination of organic growth and targeted acquisitions.”