Investindustrial takes majority stake in Piovangroup
Context
Investindustrial entered into agreements to acquire a combined 64.82% stake in Piovan (67.96% excluding treasury shares). The transaction involves purchasing 58.35% from Pentafin and 6.47% from 7-Industries. Following the closing, the acquirer will launch a mandatory tender offer to acquire the remaining shares and delist the company from the Milan stock exchange. The partnership is designed to accelerate Piovan's global organic and inorganic growth, with the Piovan family (via Pentafin) reinvesting to maintain a 25% indirect stake in the purchaser. Management continuity is secured, with Nicola Piovan remaining Executive Chairman and Filippo Zuppichin as CEO.
Piovangroup, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, standing directly in line with the average observed in the Industry & Manufacturing sector (11.1x in 2024).
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Target
PiovanGroup is a global leader in the development and production of automation systems for the storage, transport, and treatment of polymers, plastic powders, and food powders. Controlled by Investindustrial since March 2025 following its delisting from Euronext Star Milan, PiovanGroup is an aggressive consolidator in the industrial process sector.
Ent. Value
€500M–1.5bn
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
5x–12x
EV / EBIT
10x–18x
Historical Financials (EUR)
Other operations with Piovangroup
Other operations with Investindustrial
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2026 | INVESTINDUSTRIAL | ARTSANA | ITALY | Personal & Household |
| 02/2024 | INVESTINDUSTRIAL / SAMMONTANA | FORNO D’ASOLO | ITALY | Bakery / Pastry |
| 06/2021 | INVESTINDUSTRIAL | TARGA TELEMATICS | ITALY | Automotive |
| 07/2019 | INVESTINDUSTRIAL | NATRA | SPAIN | Food Products |
| 04/2018 | INVESTINDUSTRIAL | LIFEBRAIN | ITALY | Labs (Biology) |
| 04/2017 | INVESTINDUSTRIAL | ARTSANA | ITALY | Personal & Household |
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REFERENCES
Valuation range: EV €500M–1.5bn
Revenue range: €450–900M
EBITDA range: €50–100M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 5x - 12x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Piovangroup by Investindustrial are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: piovangroup
Acquirer: investindustrial
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