PICTURED: Andrea Zocchi, CEO of N&W Global Vending
Lone Star Funds has completed the acquisition of N&W Global Vending Spa, the leading European and largest independent manufacturer worldwide of Hot & Cold, and Snack & Food, Can & Bottles vending machines and a major international player in both the HoReCa and the OCS coffee machine sectors. N&W was previously owned by a pool of private equity funds formed by Investcorp Investment Holdings and Equistone Partners Europe.
The current management team will remain on board after the change of ownership, ensuring continuity in the group’s strategy.
The current management team will remain on board after the change of ownership, ensuring continuity in the group’s strategy. Thanks to this transaction, the debt that weighed heavily on group accounts during recent years will be significantly diminished.
The new owners intend to enhance the market leading position of N&W, by supporting the Company’s development through both organic growth initiatives and acquisitions; by extending the range of products in complementary technological segments and by geographical expansion.
Andrea Zocchi, CEO of N&W Global Vending, commented: “I Look forward to working with the new owners, as Lone Star will be a strong partner to work with over the next stage of N&W’s growth.”
N&W IN Brief
N&W is the European market leader in the Vending sector with a market share of 40% and revenues of over €300 million in 2015. The Company was formed in 1999 when Electrolux Zanussi Vending, the market leader in vending machines in Southern Europe, was spun-off from the Electrolux Group and renamed Necta Vending Solutions. In 2000, Necta merged with Wittenborg SA, the Danish based leader in automatic vending machines in Northern Europe, and integrated it with Necta into the newly named N&W Global Vending Group. The merger created the clear European market leader in the Vending sector. N&W acquired the SGL Group in 2007 and ADE in 2008. Both companies brought specific capabilities that enhanced the N&W offer: SGL being a leader in espresso coffee technology in relation to smaller dispensing machines and ADE – re-named N&W Innovative Solutions – being at the vanguard of payment systems technology and therefore ideally placed to consolidate N&W’s presence in the burgeoning cashless technology marketplace.
N&W has 1400 employees, of which about 1200 are located in Italy. The Company develops, produces and markets Hot & Cold (which dispense beverages such as coffee, tea, soup and hot chocolate), Snack & Food, Can & Bottle vending machines and coffee appliances for the HoReca/OCS sectors. The Company has the most comprehensive product range available on a pan-European basis. Production plants are located in Italy, Romania and China and operating affiliates are based in Austria, Belgium, Denmark, France, Germany, Poland, Russia, Spain, the UK, the United States, Brazil, Argentina, China, Singapore and Australia. While operating in more than 100 countries worldwide, the Company generates 90% of revenue in Europe. The Company invests about 5% of its revenue in R&D and has over 100 employees working in research and development.
About Lone Star Funds
Lone Star Funds is a leading private equity firm that invests globally in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized fifteen private equity funds with aggregate capital commitments totaling approximately $60 billion. The Funds are structured as closed-end, private-equity limited partnerships, the limited partners of which include corporate and public pension funds, sovereign wealth funds, university endowments, foundations, fund of funds and high net worth individuals. The Funds are advised by Lone Star Global Acquisitions, Ltd. (“LSGA”), an investment adviser registered with the U.S. Securities and Exchange Commission. LSGA and its global subsidiaries advise the Funds from offices in North America, Western Europe and East Asia.
