MILAN — Cosmelux, a leading Italian company specialized in finishing treatments for the cosmetics packaging market, has sold a majority stake to private equity operator PM & Partners SGR SpA. Independent global private asset management firm Capital Dynamics participated in the transaction as well, via its midmarket investment program, part of its long-established private equity coinvestment business.
The Zorloni family, who founded Cosmelux in 2002, will retain a 30 percent ownership stake and maintain a management role at the company.
Financial details of the operation were not disclosed.
Cosmelux specializes in UV lacquering and metallization of high-end plastic and metal packaging, with a focus on cosmetics, skin care and fragrances. The company owns the largest installed production capacity for these types of treatments in Europe and maintains relationships with main packaging companies, including Albéa, RPC, Texen and Aptar, as well as key players in the cosmetics industry, encompassing L’Oréal, LVMH Moët Hennessy Louis Vuitton, Coty Inc., the Estée Lauder Cos. Inc. and Yves Rocher.
According to industry sources, last year the company totaled 25.4 million euros in revenues.
“Cosmelux is a resilient Italian business with an impressive customer base and a talented, dedicated staff,” said PM & Partners founder and managing partner Andrea Mugnai, adding that the “ambitious growth and development plan” for the company includes “entering new market segments and geographies in the cosmetics industry and complementary markets.”
Since 2001, the Italian private equity has completed more than 30 deals in the country, acquiring majority and minority stakes in medium-sized enterprises with growth potential.