Megadyne Group: handover from Astorg to Partners Group


Partners Group, the global private markets investment manager, has agreed on behalf of its clients to acquire Megadyne Group (manufacturer of power transmission belts) from Astorg. The transaction follows Partners Group’s recent agreement to acquire Ammeraal Beltech, a global player in light-weight process and conveyor belting, from Advent International. The combined enterprise value of the two transactions, which both include investment participation from management teams, is 2 billion euro. Megadyne develops and manufactures polyurethane and rubber belts for use in power transmission and conveying systems, as well as a range of complementary products such as rubber hoses and metal pulleys. It has its headquarters in Turin, Italy, and serves over 30,000 customers across a variety of industries through 15 manufacturing plants and 33 distribution centers all around the world. The company employs more than 2,300 people and generated sales of 319 million euro in 2017. Once the acquisitions of Megadyne and Ammeraal have closed later this year, subject to anti-trust clearances and other regulatory approvals, Partners Group would in a next step plan to support a merger of the two companies, which have highly complementary product and service offerings. The potential merger would be to the benefit of both companies and their clients, creating a full-service provider across specialist industrial transmission belting and lightweight conveyor belting. “Today is an important milestone in the history of the company my father founded over 60 years ago – Giorgio Tadolini, CEO and member of the founding family of Megadyne, commented -. We see a strong cultural fit with Partners Group and also with Ammeraal and believe the planned merger could cement a lasting legacy for both companies, which is why the Tadolini family has chosen to reinvest into this acquisition. Given recent industrial trends, we are convinced that numerous growth opportunities still lie ahead of us and look forward to benefiting from Partners Group’s proven track record of investment in the industrial sector as we aim to capture this growth”.


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