Klopman International (BS Private Equity)
May 2, 2008
Compass Advisers (“Compass”) is pleased to announce the sale of Klopman International SpA (“Klopman”), the undisputed European leader in the work-wear and protective-wear fabrics business, to MW Holdings Private Limited (“MW”) for a total consideration of €70 million ($110 million). Compass, Rondelli Advisers, the Italian partner of Compass Advisers, acted as exclusive financial advisor to sellers BS Private Equity, MPS Venture and other investors. BS Private Equity is one of Italy’s leading private equity firms, investing in manufacturing and service companies, with 20 years of successful activity in the Italian financial sponsors arena. MPS Venture is the private equity arm of Monte dei Paschi di Siena, the fourth largest Italian bank.
The sale of Klopman marks the initial entry in the European market of the India-based MW, a private company owned by the Kasliwal family (the main investor of S. Kumars group — SKMK in the Mumbai stock exchange). This transaction highlights Compass’ capabilities to provide global cross-border advice to Italian clients, in particular.
Compass, Rondelli Advisers handled the sale auction process from its inception, working closely with both Klopman’s senior management and its sellers in every aspect of the transaction. Following a thorough and extensive preparations phase, Compass, Rondelli Advisers identified and contacted a large number of bidders around the world. This effort resulted in several offers and led to the selection of and successful closing with MW.
“We hired Compass, Rondelli Advisers because we knew that they would expertly guide the management, board members and shareholders of Klopman through the complex sale process, through difficult market conditions and with counterparts from several different countries,” said Paolo Pendenza, Partner of BS Private Equity. “Compass, Rondelli Advisers provided us with advice and counsel tailored to our specific needs and objectives. Their hands-on approach, disciplined execution and careful insights led to a positive outcome for Klopman, its employees and shareholders.”