Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces an investment in the Isoclima Group ("Isoclima" or the “Company”) as part of a management buyout co-led by Isoclima co-founder Alberto Bertolini and industry veteran Bill O'Gara.
Isoclima is the global solutions leader in transparent armour and high-performance glass products. It is headquartered in Este, Italy and employs more than 700 staff in operations across Italy, Croatia and Mexico. Since its founding in 1977 by Augusto Gasparetto and Alberto Bertolini, Isoclima has emerged as the best-in-class producer of high-quality, high-complexity and high-performance glass solutions. For decades, Isoclima has shaped the industry’s leading technical boundaries of ballistic protection, optical clarity, shaping, precision tolerance and weight efficiency. Isoclima’s end-markets include Civilian and Military Armoured Vehicles, Specialty Vehicles, Marine, Architecture, Aerospace and Rail.
The transaction cements a strategic and financial partnership involving Stirling Square, Alberto Bertolini (the co-founder who will continue to lead the Company's R&D and strategic key accounts development) and Bill O’Gara (the veteran manager of civilian and military armouring and defence companies). Stirling Square will support Isoclima's international development strategies, Mr. O'Gara will lead the execution of these strategies as Group Chief Executive Officer, and Mr. Bertolini will remain a key shareholder and executive director of the Company. Isoclima's senior management team is also joined by Chip Lennon (EVP Global Operations), Steve Ratterman (EVP International) and Mirko Prato (EVP Finance). The headquarters of the Company and principal facilities will remain in Este, Italy, which will also continue to be the R&D centre for the Company.
Gregorio Napoleone of Stirling Square commented: “We are delighted to partner with Alberto, Bill and the management of Isoclima, the global 'gold standard' in high-performance glass solutions. Assiduous R&D, product innovation and process know-how have placed the Company in a market-leading position. We see a great deal of potential for Isoclima and, alongside our new partners, intend to rapidly accelerate its product development and delivery into new sectors and geographies”.
Bill O’Gara added: “It is with tremendous excitement that I join Alberto and the Isoclima management today. I have known Alberto for three decades, during which I have admired his pioneering vision and entrepreneurial spirit and I look forward to a powerful new partnership with him and Stirling Square".
Alberto Bertolini noted: “It is with great pleasure that I team up with Stirling Square and an international management group led by Bill to take Isoclima to the next level. This partnership will allow the Company to capitalise on its strengths and tap its true potential, including via organic development, external alliances and acquisitions.”
The transaction represents the seventh platform investment in Stirling Square’s Third Fund.
Advisers to Stirling Square:
Canaccord – M&A Advisory
Fineurop Soditic – Debt Advisory
Roland Berger – Commercial
Pavia e Ansaldo – Legal (M&A)
Gattai Minoli Agostinelli & Partners – Legal (Debt)
KPMG – Financial and Tax