CHICAGO & MILAN - Dec. 1, 2020 - Synergo Capital, on behalf of Sinergia II fund, has sold 24.5% of Raccortubi's capital to Commerciale Tubi Acciaio, a company active in the distribution of stainless-steel fittings and pipes with sales of about €120 million. Cesare Tocchio, managing director of CDI Global Italy, served as the financial advisor to the buyer throughout the transaction.

Raccortubi, acquired by Synergo in December 2014, is a company specialized in the distribution and production of stainless-steel fittings and pipes with sales of about €70 million. Founded in 1949, it has two production plants in Italy as well as distribution branches in Brazil, UK, United Arab Emirates, and Singapore. Its products are destined to chemical and petrochemical plants, power generation plants, shipyards, fertilizer plants and offshore platforms. The new group, with sales of about €200 million, will bolster the international network while addressing the closure of some branches and potential acquisitions in other countries.

"We were pleased to lend our expertise to a deal in the sector of pipes, fittings, forges for the chemical industry, oil and gas, along with other industries," noted Cesare Tocchio. "One of the strengths of our CDI Global network is the experience we bring both in these industries and in cross-border transactions, which contributed to the success of this deal."

The transaction is part of a broader industrial project being undertaken by Commerciale Tubi Acciaio, who will be advancing the industrial, occupational, and brand development of Raccortubi in the future.

About CDI Global

CDI Global was founded in Europe in 1973 and is headquartered in The Netherlands. The firm specializes in international buy-side searches formergers and acquisitions, divestitures and sell-side representation, joint ventures and other forms of business combination, and financial and due diligence advisory services. CDI Global focuses on middle-market transactions and has completed nearly 3,000transactions over the past 45+ years covering more than 25 industries.The firm operates from nearly 50 offices in Asia and the Pacific region, Europe, North America, India, and South America.CDI Global is known for its experienced international partners, significant industry knowledge and focus, trademark interview process, and in-depth corporate and business development expertise. For more information visit https://www.cdiglobal.com.

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