Clessidra Private Equity SGR (“Clessidra PE”)—the private equity firm of the Clessidra Group , one of Italy's leading alternative investment firms —announces the acquisition by the Clessidra Capital Partners Green Harvest fund of a 70% stake in Errebi Technology SpA , an Italian leader in the design, production, and marketing of precision molds and cylinders for the food and pet food industries. Entrepreneur Massimiliano Paglione will retain a 30% stake , reinvesting alongside Clessidra to support the company's next phase of development.
Founded in Badia Polesine (RO) in 1976, Errebi Technology is internationally recognized for the high technological precision of its molds and cylinders, critical components in forming and cutting processes for the food industry, primarily bakery products, and pet food, and for a production approach oriented towards innovation and engineering quality.
The company - which today generates a turnover of approximately 15 million euros, of which over 75% is generated abroad - serves the most important international producers in the food sector , combining consolidated manufacturing capacity with distinctive technical know-how in the design of high-precision custom solutions.
The acquisition of the majority stake in Errebi Technology is perfectly consistent with the strategy of the Clessidra Capital Partners Green Harvest fund, dedicated to Italian agri-food SMEs , with the aim of promoting sustainable and competitive business models along the entire supply chain .
"With the acquisition of Errebi Technology, we are strengthening Green Harvest's strategy across the entire agrifood supply chain, including the technology players that enable production excellence in the sector ," commented Andrea Ottaviano , CEO of Clessidra Private Equity SGR. "Errebi represents an important piece of this vision: an Italian engineering excellence that, with its precision technology, enhances the quality and efficiency of its customers' production processes around the world."
"Errebi stands out for its rare technical expertise in the precision molds and cylinders sector, built over nearly fifty years of business and recognized by leading international food groups," adds Emanuele Cuccio , Managing Director of Clessidra PE, who led the operation. "With our entry, we intend to accelerate Errebi's growth, including through acquisitions, by strengthening production capacity, expanding our technological offerings, and further developing internationally , leveraging an already solid and highly specialized industrial model."
"Seeing Errebi join the portfolio of an investor like Clessidra is a great satisfaction for me and a recognition of the value we've built over the years," continues Massimiliano Paglione , entrepreneur of Errebi Technology. "I chose to reinvest because I share the company's vision of growth , and I'm confident that this new chapter will maximize the work we've done so far and the company's growth prospects ."
The Clessidra team, led by Managing Director Emanuele Cuccio , involved Veronica Tognoli , Vice President, and Niccolò Battisti , Analyst.
Clessidra was assisted in the transaction by Androschin & Co. for business due diligence, by Ughi e Nunziante for legal aspects with a team composed of partners Filippo Siano, Amon Airoldi, and Gianluigi Pugliese and senior associate Deniz Kivage, by Studio MNLex for corporate law aspects, by CASE CASSIOPEA for debt advisory, by KPMG for financial matters, by Efeso for due diligence operations, by Studio Facchini Rossi Michelutti with a team composed of Partner Giancarlo Pecorella, Senior Associate Armando Tardini, and Associate Massimiliano De Pasquale for tax matters, by ERM for ESG aspects, and by Marsh for insurance aspects.
Massimiliano Paglione was assisted by Luca Moscardo e Associati as M&A advisor, by Pavia e Ansaldo with a team composed of partner Giuseppe Besozzi, counsel Erica Lepore, and trainee Roberta Rotunno, by attorneys Guido Sola and Anselmo Sovieni for legal aspects, by Studio Paio e Massarenti Commercialisti e Revisori for tax matters, and by Studio Allegro Consulenti del Lavoro e Avvocati for employment law aspects.
The transaction was financed by a pool of banks comprising Banca Ifis S.p.A. (which also acted as Agent Bank), Cassa Centrale Banca – Credito Cooperativo Italiano S.p.A., and Banca Prealpi SanBiagio. The banks were assisted on legal matters by Studio Chiomenti, with a team composed of Davide D'Affronto, Cettina Merlino, and Francesco Burla.
About Clessidra Private Equity SGR
Clessidra is one of Italy's leading private equity firms, with over €3.3 billion in capital raised through its funds. Founded in 2003, Clessidra Private Equity Sgr is controlled by Clessidra Holding SpA, a wholly-owned subsidiary of Italmobiliare SpA, the listed investment holding company controlled by the Pesenti family. Since its founding, 31 investments have been completed for a total of €2.4 billion; during the same period, 54 add-on transactions have been completed for portfolio companies. Clessidra completed the raising of its fourth private equity fund in 2023 and is currently in the investment phase.
Information about Clessidra Group
With a track record spanning over twenty years, it is one of Italy's leading alternative investment providers, providing SMEs with financial resources, expert expertise, and experience in ESG integration, meeting the broad demand for diversified products and services from leading domestic and international institutional investors. To date, the Group has invested over €2.4 billion in capital and, separately, has deployed over €1.5 billion in private credit and factoring. Founded in 2003 as an asset management company operating in Italian private equity, Clessidra Group quickly became one of the leading players in the Italian market. In 2016, it was acquired by Italmobiliare SpA, an investment holding company listed on the Milan Stock Exchange. In 2019, it launched a diversification strategy that has progressively expanded the company's activities beyond the traditional private equity sector. Clessidra Group is now an independent platform active in alternative investments, asset management, and factoring, offering a wide range of products and services for institutional investors and Italian medium-sized businesses. The Group operates through three companies: Clessidra Private Equity SGR, Clessidra Capital Credit SGR, and Clessidra Factoring, which specialize in private equity, distressed and performing loans, and factoring, respectively.
