Private equity firm H.I.G. Europe, the European arm of H.I.G. Capital, has acquired a majority stake in Italian components manufacturer Metalprint.
Metalprint was founded in 1974 and manufactures forged brass and aluminium industrial components for the recreational vehicles, industrial valves, pressure washers and nuclear industries.
In 2017 it acquired Jebco Manufacturing, which provides high precision machined aluminium components in North America, and now 85% of its sales are now generated outside Italy.
H.I.G. acquired a controlling stake in Metalprint from the founding families Strazzari and Cerutti who reinvested with H.I.G. in the transaction.
The Strazzari and Cerutti families said: “The relationship with a global fund like H.I.G. is a recognition of the great work done by Metalprint management over the last years and represents a crucial step to further accelerate the group’s future development.”
Raffaele Legnani, Managing Director of H.I.G. Capital in Italy, added: “Metalprint is one of the international leaders in brass and aluminium forging. H.I.G. is excited to support the management of the company in its ambitious growth plan and we are confident we will make a contribution to Metalprint’s internationalisation.”