August 13, 2014
Latham & Watkins LLP has advised Capvis on the acquisition of Faster S.p.A, a leading global manufacturer of quick-release hydraulic coupling solutions based in Italy. Swiss private equity fund Capvis agreed to purchase a majority share in Faster from current investor Argan Capital. The transaction is subject to approval by antitrust authorities. Faster’s current management, led by CEO Roberto Zecchi, will remain in charge of the company and invest alongside Capvis.
Faster is a market-leading manufacturer of quick-release hydraulic couplings and multi-couplings for agricultural and construction equipment. Its acquisition follows Capvis’ global investment strategy, focusing on leading medium-sized companies and global niche market leaders. Capvis’s acquisition of Faster represents the firm’s second investment in Italy.
A cross-border deal team spanning Latham’s German, Italian and US offices advised Capvis on the deal. The team was co-led by mergers and acquisitions partner Christian Edye in Hamburg and mergers and acquisitions partner Tommaso Amirante in Milan. Advice was also provided by Hamburg associate Julia Heydel and Milan associates Giovanni B. Sandicchi and Claudio Segna on corporate matters; Hamburg associate Jana Dammann de Chapto on antitrust; Milan partner Lorenzo Vernetti and associate Daniele Migliarucci on finance; Milan counsel Daniela Frascella on environmental law matters; Chicago associate Jonathan Schiller on US law matters; and New York associate Rifka Singer on tax.
Capvis is a leading private equity firm in Switzerland and one of the most active investors in German-speaking Europe. Capvis invests primarily in leading medium-sized companies. Since 1990 Capvis has completed 46 transactions with a total volume of more than EUR 5 billion. Capvis has floated nine companies on stock exchanges and has repeatedly been voted Switzerland’s and, in 2013, also Germany’s best private equity firm by the international financial press.
Faster S.p.A, based in Rivolta d’Adda, Italy, develops and manufactures quick-release hydraulic couplings and multi-coupling solutions for medium- to high-pressure applications. Faster has 407 employees, located at its headquarters in Rivolta d’Adda, Italy, as well as in Pune, India, Ohio, USA, Shanghai, China and Sao Paulo, Brazil.