IMA Group
Established: 1961
Country: Italy
Region: Emilia-Romagna
Investors: BC Partners
Founded in 1961 by the Vacchi family, IMA sells and services automation machinery for the packaging and processing of pharmaceuticals, medical devices, cosmetics, food products, and e-mobility solutions. The Company has a presence in over 80 countries and operates 54 production facilities, serving a strong global customer base.
BC Partners acquired a 45% stake in IMA in 2021 and its exit from the Company in July 2023 was one of the largest in Europe year-to-date. During its co-ownership, BC Partners partnered with the Vacchi family to take the Company private from the Milan stock exchange during the height of the Covid pandemic in 2020. Initiatives including increasing R&D by 30% and strengthening IMA’s supply chain delivered strong financial performance with sales growth of over 50% and EBITDA growth of over 70%, since the delisting of the Company.
BC Partners has been a true strategic partner, providing thought leadership through its sector insights and owner-operator mindset helping us execute on our vision. BC Partners supported us in delisting IMA Group during the turbulent period of the Covid pandemic, enhancing our global leadership position, and ultimately assisting us in selecting the right investment partner for our next chapter of growth.
IMA’s mission is to invest in technologies that will improve the quality of life on the planet, reduce food waste, increase access to more effective drugs and allow greater respect for the environment.
Our investment in IMA demonstrates our unique ability to be the partner of choice for entrepreneurs and management teams, leveraging the strength of our sector expertise and operational value add. With our support, IMA has increased its focus on R&D, expanded its employee base, positioned itself as a mission-critical partner to its customers, and generated significant growth and investment returns. It was important for us to help the Vacchi family find the right partner for the next stage of their growth, and we are confident that BDT & MSD are well positioned to do this. We are grateful to Alberto Vacchi and the whole IMA Group management team for their partnership.
+3%
accelerated revenue growth
+2%
expanded EBITDA margins
6
accretive bolt-on acquisitions
Key achievements
Commercial excellence: Developed aftersales and IMA Digital to better capture margins
Divisional set-up: Creation of the Automation Division, currently world leader in the design of complex automated lines
Entry in new end markets: Development of e-mobility and e-commerce offering
Funding history
Invested €911m in January 2021 at an enterprise value of €3.5bn
Exit at an enterprise value of €6.9bn in July 2023 (closing expected by year end)
Exit proceeds to BC Partners of €2,178m or 2.4x MM / 34% IRR
Employment impact
10% FTE increase during BC Partners’ ownership, to support continued growth
Strengthening of local manufacturing ecosystem through long standing commitments and investments in c.30 local partners
Investors
