ABN AMRO Italy buys into Finder

ABN AMRO Capital, the captive private equity arm of the Dutch bank, has backed a management buyout of Finder, a manufacturer of centrifugal and vacuum pumps and filters.

Acquisition debt has been provided by Centrobanca and Banca Popolare di Vicenza. ABN AMRO Capital has acquired a 70% stake in the Luxembourg-based holding company buying Finder, while the vendor Findernest, a group of institutional investors, has reinvested to purchase the remaining 30% stake.

ABN AMRO Capital was advised by Ferdinando Gelosa e Giuseppe Boi, Value Partner, PwC, Ashurst, Linklaters, Russo DeRosa Bolletta & Associati, ERM and Willis. Findernest was advised by Dewey & LeBoeuf.

Finder is ABN AMRO Capital’s third Italian deal this year, following the realisation of a minority stake in Dayco Europe in June and last month’s sale of GGP, at €746m (US$1.092bn) Italy’s biggest buyout in 2007.

The Italian arm is believed to be reaching the final stages of negotiations for third party funding to spin out, following the separation of ABN AMRO Capital’s northern European operations in September, rebranded as AAC Capital Partners. ABN AMRO Italy will shortly become independent, as will ABN AMRO Spain.