AXA Private Equity has acquired a controlling equity interest in Idroma group in association with the management team. Paris, 15 January 2008.

The company, which is based in Legnano (Italy), operates in the industrial automation and exhaust components sectors.

Idroma group was founded in 1952 by the Girola family. With €40 million of sales, the group comprises two distinct entities – Duplomatic Automazione and Duplomatic Oleodinamica. Duplomatic Automazione produces machine tools (lathes), automatic control systems and machine tool components while Duplomatic Oleodinamica produces a complete range of valves, engines, cylinders and exhaust accessories.

In both sectors, Idroma has grown by building a reputation for reliability and quality with it customers. The group is backed by a strong international presence via a network of branches and distributors.

AXA Private Equity’s objective in taking an equity stake in the company is to support the management’s development strategy: international growth, expansion of the product range, and acquisitions.

Paolo Bergonzini, a director of AXA Private Equity Italy, said: “We are delighted to support such a high-quality team in their development strategy”.

Roberto Maddalon, managing director of Idroma, confident in the partnership with AXA Private Equity commented: “The deal that we have just signed represents a major opportunity for our company in view of AXA Private Equity’s network, which will be a considerable boost for our international growth”.

AXA Private Equity’s Milan-based Italian office was opened in March 2007 and now has 6 employees. The team can offer investors expertise in buyout, mezzanine, funds of funds and infrastructure. In the first year, the office successfully completed four direct and funds of funds investments. The creation of the Italian office is a major step forward in AXA Private Equity’s international development strategy.

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Catherine Gros
Florence Riu
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