A new private equity fund in Italy, Magenta, has acquired CIFA SpA, a global player in design, manufacture and distribution of equipment for ready mixed
A new private equity fund in Italy, Magenta, has acquired CIFA SpA, a global player in design, manufacture and distribution of equipment for ready mixed concrete production, transportation and placement. Along with other financial investors that include private equity fund Alpha and Banca Intesa, Magenta acquired 72.5 percent of Cifa, with the Cerini Û Mutti Û Raimondi and other families owning the remaining stake.
CIFA is an Italian company well known for its successful business worldwide. The company represents a great opportunity and an optimal platform to grow organically and through acquisitions. We look forward to working with the management team to drive the company forward, says Edoardo Lanzavecchia, managing director of Magenta.
This acquisition is an excellent opportunity for the CIFA Group and particularly for its U.S. operation, adds Matteo Rolla, vice president of Milwaukee-based CIFA USA. [The company] will benefit from the financial strength and internationally recognized management skill provided by the new shareholders.