22.07.2019

Amundi provides I.M.A. (Industria Macchine Automatiche SpA) with a EUR 50 million EuroPP

In June 2019, Amundi provided I.M.A.* (Industria Macchine Automatiche SpA) – an Italian processing and packaging machines manufacturer - with a EUR 50M EuroPP, in conjunction with a EUR 180M Syndicated Term Loan underwritten by UniCredit, which acted as sole Bookrunner.

The package was intended to finance I.M.A.’s take-over of ATOP, an Italian company which makes automatic machines for the production of electric motor parts. It also offered I.M.A. the opportunity to diversify its debt maturities and sources of funding.

Thanks to its long-standing relationship with I.M.A., Amundi was able to keep the EuroPP transaction proprietary and subscribed to I.M.A.’s new €50m 7-year bond private placement in its entirety. “We’re very pleased to be a cornerstone investor of I.M.A.’s private financing set-up. I.M.A. is our 11th deal this year and 3rd outside of France” says Thierry Vallière, Head of Private Debt at Amundi. 

The Credit Agricole Group played an important role as a lender in the transaction, participating both in the bond issuance through Amundi, and in the term loan, through Credit Agricole Italia and Credit Agricole CIB, who acted as the Mandated Lead Arranger, lender and hedging counterpart.

This operation exemplifies the successful partnership between Unicredit and Amundi in supporting mid-to-large size Italian companies efficiently and effectively.

“Unicredit is proud to succeed in establishing connections between top-quality investors such as Amundi and top-quality corporates such as I.M.A. This illustrates the continuing, trustworthy, and fruitful partnership we have built together” says Luca Falco, head of Global Syndicate and Capital Markets at Unicredit.

*Established in 1961, I.M.A. is a world leader in the design and manufacturing of automatic machines for the processing and packaging of pharmaceuticals, cosmetics, food, tea and coffee. The Group has approximately 6,000 employees, more than 2,400 of whom are overseas, and operates in around 80 countries, supported by a sales network  comprised of 29 branches. The Group has 42 production plants in Italy, Germany, Switzerland, the UK, Spain, Austria, the USA, India, Malaysia, China and Argentina. I.M.A. S.p.A. has been listed on the Milan Stock Exchange since 1995 and in 2001 joined the STAR segment. On July 2nd I.M.A. completed its acquisition of a majority stake in ATOP, from the mid-market private equity firm Charme Capital Partners. As a result, I.M.A., who was already a shareholder of the Company since 2017 with a 21% stake, now has a total interest of around 84%. ATOP’s founders and its chairman Amedeo Felisa reinvested around 6%.

Amundi is Europe’s largest asset manager by assets under management and ranks in the top 10[1] globally. It manages 1,476 billion[2] euros of assets across six main investment hubs[3]. Amundi offers its clients in Europe Asia-Pacific, the Middle East and the Americas a wealth of market expertise and a full range of capabilities across the active, passive and real assets investment universes. Clients also have access to a complete set of services and tools. Headquartered in Paris, Amundi was listed in November 2015.

Thanks to its unique research capabilities and the skills of close to 4,500 team members and market experts based in 37 countries, Amundi provides retail, institutional and corporate clients with innovative investment strategies and solutions tailored to their needs, targeted outcomes and risk profiles.

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Visit amundi.com for more information or to find an Amundi office near you.

  1. Source IPE “Top 400 asset managers” published in June 2018 and based on AUM as of end December 2017
  2. Amundi figures as of March 31, 2019
  3. Investment hubs: Boston, Dublin, London, Milan, Paris and Tokyo