Aksìa Capital V Fund Acquires a Controlling Stake in Gommatex Spalmati

Tombari D’Angelo e Associati and De Luca & Partners advised on the transaction.

Founded in 1997, Aksìa Group primarily invests in medium-sized Italian businesses that can be grown organically or through further acquisitions, with a particular emphasis in family- or founder-owned companies. Since its inception, the group has invested over €500 million and completed more than 50 M&A deals.

Gommatex Spalmati is based in Prato, Italy, and specialises in the production of customisable and sustainable high-quality coagulated and coated fabrics for use by high-end fashion and luxury brands. The firm reported revenue of around €23 million for 2021, an increase of 28% from the previous year. Gommatex’s acquisition, which was made via Aksìa’s Capital V Fund, marks the first of Aksìa’s investments in the luxury goods sector and the seventh deal for the fund. It is expected that Aksìa will support the continued M&A expansion of Gommatex, particularly in its creative department and sales network.

Tombari D’Angelo e Associati advised on the transaction with a team comprising partners Enrico Mugnai and Elena Iozzelli.

Lawyer Monthly had the pleasure to speak with Enrico Mugnai, Partner at Tombari D’Angelo e Associati, to gain some further insight into the transaction.

Please tell us more about the role you played during this deal.

Our law firm and our team were involved as legal advisors to the sellers in order to assist the members of the Giovannelli family (founders and former owners of the target company Gommatex Spalmati) in relation to all legal aspects of the sale and reinvestments with Aksìa.

How did you ensure that the transaction was carried out to the satisfaction of all concerned?

In performing our task, our main focus and concern was both to negotiate and define the best contractual structure for the sale of the shares, with particular attention to the R&Ws, and, at the same time, to structure the terms and conditions of the reinvestment made by the sellers, according to their specific roles and needs.

Were there any aspects of this transaction that you found unique, challenging or particularly interesting?

The transaction was characterised by the strong commitment of both the sellers and buyer to the company’s future management, which entailed a complex and detailed regulation of their relationship and the corporate governance structure. All this was carried out while keeping to the time schedule without producing significant delays.