IMA acquires the majority of TMC

The IMA Group invests in the sector of machinery for packaging tissue and personal care products. On 23/04/18, IMA signed an agreement with Matteo Gentili and some minority shareholders concerning the purchase of 82.5% of the shares of the company TMC SpA (Castel Guelfo, BO), which manufactures and sells automatic machines for the packaging and handling of tissue and personal care products and related after-sales assistance services.

TMC, founded in 1997 by Vanni Angeli, Matteo Gentili (who will remain in the forefront of the TMC Group’s strategic management) and Valter Marcolini, has consolidated over time an undisputed leadership at international level in some market niches (primary and secondary packaging of paper towels and rolls of toilet paper, secondary packaging of personal care products such as baby  and adult nappies and products for female intimate hygiene).

 The TMC Group, with its subsidiaries, estimated at the closing date a negative net financial position of approximately 14 million euros and forecasts for the year 2018 a turnover of approximately 80 million euros and an EBITDA of over 10 million euros with good growth prospects, also thanks to the overall support that IMA will be able to provide to the company by integrating it into the IMA Group organization.

The transaction provides for an outlay for IMA of approximately 58.5 million euro, to be paid at the closing of the same, expected presumably within the first ten days of May 2018 and the subscription of Put & Call option contracts on the remaining 17.5% to be exercised within the month of April 2023.            

Alberto Vacchi, president and CEO of IMA, commented: «The announced operation is strategic for the IMA Group and the partnership with Matteo Gentili, using TMC as a platform for the development of the project, will allow us to create an undisputed leading international hub in the tissue and personal care sector. With this operation, IMA continues the path of valorisation and growth of leading brands in the market, further strengthening its industrial presence in Italy».