Two acquisitions — ELTI in Italy and ADINOR in Spain — plus two newly financed search funds. Six companies and more than twenty search funds in under two years of the investment period.
Arada Capital Partners has completed its sixth acquisition with the purchase of the Italian company ELTI through the search fund Visconti Capital. ELTI specialises in the inspection and certification of systems and installations in Rome, focusing on lifts, electrical installations, automatic doors and water quality. The company is led by a management team composed of Clemente di Napoli and Carlo Luigi Fontana. It generates recurring revenues through contracts with an average duration of more than seven years, achieving turnover close to €15m and maintaining an EBITDA margin of 40% in recent years.
With this acquisition Arada completes its first deal in Italy, one of the geographies where the management team sees the greatest potential, reinforcing a commitment to companies with succession issues, high growth potential and leadership teams committed to their growth plans.
ADINOR
In July, Arada, together with other investors and the search fund Pleamar Partners, completed a new investment in Spain — specifically in Valladolid, in an industrial company called ADINOR. Now managed by José Luis Soria and Carlos Gómez de Iturriaga, ADINOR is a leading industrial player in the region, specialising in innovative solutions for the metallurgical sector and recognised for its quality, efficiency and operational excellence.
Two new searches financed
Alongside these acquisitions, Arada has continued financing search funds beginning their search phase. Two new funds started just before the summer.
Castellum Equity Partners is led by Stefano Cattapan, previously a director in the M&A team at Citi. Venn Capital is led by Johannes, formerly a director at H.I.G. Capital in London. Although the two operate in different geographies and with distinct approaches, both share a buy-and-build strategy: over the coming months they will seek a company that can serve as a platform for organic and inorganic growth through the acquisition of smaller companies in the same sector, focusing on fragmented industries.
With less than two years since the beginning of its investment period, Arada has completed six acquisitions and financed more than twenty search funds across five geographies.