Induplast has acquired Verve. Along with Vexel, acquired by Induplast in July, the combination of the 3 Italian companies creates a complementary group with a diversified cosmetic and personal care product portfolio.
Induplast SpA, based in Bolgare, is an international leader in the production of packaging for cosmetics including stick containers, lip balm containers and jars, while Vedano Olona-based Verve SpA is active in the production and marketing of bottles, tottles and jars.
The combination of Induplast, Vexel and Verve will offer customers increased production technologies of injection molding, blow molding and stretch blow molding, with an expanded catalog of packaging products and distribution channels, across three production and logistic sites, plus a modern workshop for the creation of molds.
Upon completion of the acquisition, both Verve and Vexel will be controlled by the Induplast Group.
Mario Musolino - CEO of Induplast SpA - commented:
"We are delighted that Verve has joined the Induplast Group. The excellent know-how earned in over sixty years of activity and the high added value and service quality will allow the Induplast Group to grow, and diversify its portfolio and customer base by providing them with a wider offer."
Pier Filippo Versiglia - President of Verve SpA - commented:
"I am proud to be part of the Induplast Group and to contribute to the project of creating a diversified group in packaging for cosmetics. I am looking forward to start working together to fully express the group's potential."
Marco Cortesi - President of Induplast SpA - commented:
"A year and a half after the transaction with Europe Capital Partners VI, the acquisition of Verve represents the second action aimed at the realization of the project shared with the Fund and its advisor CS & Associati. I wish to welcome Pier Filippo Versiglia into the project."
Induplast and Verve transaction
The Induplast Group is a platform created by the private equity fund Europe Capital Partners VI and by the Cortesi and Leidi families to buy and build in the cosmetic packaging sector.
Pier Filippo Versiglia of Verve SpA joins the Induplast Group project with a minority stake, serving as president of Verve SpA and maintaining his operational role.
CS & Associati, advisor to Europe Capital Partners VI, organized the transaction on behalf of the Induplast Group, assisted by Gatti Pavesi Bianchi law firm. CS & Associati was also assisted by Spada Partners, Pirola Pennuto Zei, ERM and Yard in the due diligence process.
The Versiglia family was assisted by Carnelutti, and by Audisio e Associati law firms for legal aspects and by Arkios Italy SpA as financial advisor.
ICCREA Banca Impresa supported the Induplast Group structuring and underwriting the acquisition finance of the transaction.
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