Wykeham Farrance: Wise SGR and the Di Iorio family acquire the Controls Group Sponsored

Wise SGR S.p.A., - on behalf of the Wisequity III closed-end fund and together with Engineer Pasquale Di Iorio, his family and the Emdin family - has finalized an agreement for the acquisition of 100% of the share capital of the Controls group from the Abacus fund and a group of long-term shareholders of the company. The transaction is expected to close in January 2016.

The Controls group, based in Liscate (MI), with turnover of over € 40 million, is a world leader in equipment for construction materials testing with a presence in more than 100 countries. The company employs approximately 135 people - roughly half in Italy and half abroad at its own subsidiaries in France, Great Britain, Spain, Poland, Iraq, Mexico and the U.S.A., as well as at the headquarters of IPC Global, an Australian company in which it holds a stake.

The project involves the development of the group, together with current management, through investments aimed at both internal growth, with expansion into underserved markets – in particular the U.S.A. - as well as through acquisitions of complementary and synergistic companies. The transaction represents Wise’s eighth acquisition on behalf of the Wisequity III Fund, which has over € 180 million in committed capital, approximately 85% of which will have been employed following the acquisition of Controls.

Read more in Controls Group News Page here!

Source: Wykeham Farrance - Controls Group