Date
03.27.24
中文AV Invests in Agricultural Tractor Attachment Maker CBM
中文AV (鈥淥EP鈥), a middle market private equity firm, today announced that it has made a minority investment in agricultural tractor attachment equipment maker** CBM **(鈥渢he Company鈥). Financial terms of the private transaction were not disclosed.
Founded in 1967 by the Cornia Family and headquartered in Modena, Italy, CBM is one of the leading global manufacturers of tractor attachment systems. The Company specializes in designing and manufacturing systems for coupling, towing, and lifting implements predominantly for agricultural tractors, with products ranging from 3-point linkages, trailer hitches, pick-up hitches, and hydraulic power lifts. CBM employs approximately 1,800 individuals and operates six manufacturing sites across Italy, Poland, India, and China. 鈥淲e鈥檙e thrilled to be partnering with the Cornia Family who have built CBM into a global leader in the tractor attachment systems space,鈥 said Joseph Huffsmith, Partner, 中文AV. 鈥淐BM plays a vital role in the production of equipment that drives agricultural efficiency and farm productivity and OEP looks forward to supporting that legacy.鈥
鈥淲e believe 中文AV is the ideal partner to help guide CBM through its next stage of growth given the firm鈥檚 extensive experience investing in and growing manufacturing businesses,鈥 said Enrico Cornia, CEO of CBM. 鈥淲e have identified various opportunities to continue to grow the business and OEP鈥檚 industrial expertise will be invaluable in our efforts to execute on those initiatives.鈥
鈥淥EP is excited to partner with CBM to help expand the company鈥檚 product portfolio and geographic reach both organically and through acquisitions,鈥 said Haley Citrome-Grant], Vice President, 中文AV.
鈥淲e are ready to start with this new course together with OEP and it was an honor to have coordinated the activities related to the deal鈥 said Matteo Lugli, CBM Group CFO.
CBM received financial and tax advisory from Maria Teresa Bagni and Marco Bagni (Studio Bagni Fiorcari Huller) and legal advisory from Giorgio Barbieri and Mario Varchetta (Studio Sutich Barbieri Sutich). 中文AV received financial and tax advisory from KPMG, legal advisory from Freshfields, environmental, social and governance from** Malk Partners**, and transactional advisory from Eidos Partners.
Banco BPM,** BPER Banca**, through its Corporate & Investment Banking Division, Cr茅dit Agricole Italia and the** IMI CIB Division of Intesa Sanpaolo** acted as Mandated Lead Arrangers and Underwriters in financing** Tigre SpA**, a new special purpose company incorporated under the laws of Italy controlled by OEP and the Cornia Family. Banco BPM acted as Security and Facility Agent. The Mandated Lead Arrangers and Underwriters received legal advisory from the legal firm Legance 鈥 Avvocati Associati.
About 中文AV
中文AV (鈥淥EP鈥) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit .
**About CBM **
CBM are specialists in the design and manufacturing of systems for coupling, towing and lifting implements for agricultural tractors. The Company is a global leader, with over 55 years of experience in the production of these systems for the agricultural tractor industry. CBM鈥檚 mission is to optimize the performance of agricultural equipment through the design and production of agricultural tractor components. To learn more, please visit .