Mandarin Capital Exits 7.57% Stake Of IMA Industria

Chinese-Italian buyout fund Mandarin Capital has exited its stake in Italian automatic processing and packaging machinery maker IMA Industria Macchine Automatiche SpA, according to a company announcement.

Reuters reported that Mandarin Capital sold its 7.57% stake at €18.60 ($24.51) per share via an accelerated book building process, totaling €53 million.

Mandarin Capital’s managing partner Enrico Ricotta will remain on the Board of IMA.

Alberto Forchielli, Mandarin Capital’s founding managing partner, says the private equity firm invested in IMA in 2009. Mandarin helped to add new plants in China for IMA.

The investment goes both ways. Forchielli says IMA has also become a large shareholder of Mandarin Capital Partners II, which just had first close of €110.5 million.

Established in 1961, IMA designs and manufactures automatic machines for the processing and packaging of pharmaceuticals, cosmetics, tea, coffee and foods.

The Group has more than 3,300 employees, and have production plants in Italy, Germany, the United Kingdom, the United States, India and China.

IMA is also participating in one joint-venture in China for production and service.

IMA S.p.A. has been listed on the Milan Stock Exchange since 1995 and in 2001 joined
the STAR segment.

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