Palladio Finanziaria Holding has acquired Cimos Group for an undisclosed consideration.
Palladio Finanziaria Holding is an Italian investment firm that has been operating in Europe for more than 30 years. The firm operates through dedicated vehicles: for private equity and infrastructures, VEI Capital and Venice, and for public equity, Ferak, one of the largest investors in Assicurazioni Generali.
Cimos Group is a large Slovenian state-owned automotive (tier 1 and tier 2) supplier and one of the largest industrial groups in the country. Cimos’ main business unit is Turbo, one of the leading manufacturers in Europe. The firm's parts are incorporated in car engines of all dominant automotive manufacturers. Another business unit produces advanced powertrain mechanisms and parts while its chassis and body division (Kinematics) manufactures products such as hinges, pedal systems, handbrake levers, where Cimos has 15% market share in Europe.
The largest shareholder was the Slovenian bad bank DUTB. The Bank Assets Management Company (BAMC) was established in March 2013 by the Republic of Slovenia to facilitate the restructuring of banks facing severe solvency and liquidity problems. By the end of 2013, the two largest banks had been recapitalized by the government and a substantial part of their non-performing assets had been transferred to BAMC.
Oaklins' team in Slovenia advised the buyer in this transaction. The team negotiated a debt restructuring.
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