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Investcorp buys Italian pump and valve maker

The Middle East firm is buying CEME Group from Barclays Private Equity in a mid-market secondary buyout. Management is rolling over its investment.

Investcorp, the alternative investment group, is acquiring CEME Group, a producer of components for fluids control, from Barclays Private Equity. The terms of the transaction were not disclosed.

Barclays Private Equity bought the CEME Group in September 2005. The current management team will also reinvest in the company.

Headquartered in Lombardy in Italy, CEME is a market leader in solenoid pumps and valves for domestic appliances.

Tito Soso, a partner in Investcorp’s private equity team, said: “CEME has built a leading market position with a blue chip customer base, serving every leading domestic coffee machine and steam ironing systems manufacturer in the world. The company symbolizes many of the strengths and flexibility of Italian engineering and manufacturing.”

He said Investcorp would support the management team to make the most of the continuing organic growth potential in and outside Europe, as well as exploring further acquisition opportunities.

The debt financing was underwritten by ING and Mezzanove.