Charterhouse announced the acquisition of Italian gelato ingredients maker Mec3 from The Riverside Company for about €400 million. Just another Italian mid-market private equity deal? Not at all. This was hands-down the most exciting Italian deal of 2016. Local and pan-European PE firms alike were fighting hard for this asset, and Il Sole 24 Ore reported that Charterhouse, Permira, Cinven and Carlyle had all made it to the second round. In the end Charterhouse is said to have paid close to 14x EBITDA – a prodigious multiple for a food ingredients company!
Crescendo Partners created the management presentation for the Mec3 exit and coached the presenting team for superb delivery. The sale process was run by Rothschild.