Key Insights:
- Strategic Minority Investment: One Equity Partners announces a minority investment in CBM, a global leader in tractor attachment equipment manufacturing.
- Partnership with the Cornia Family: This collaboration celebrates the partnership with the founding Cornia Family, aiming to support CBM’s ongoing growth and innovation in the agricultural sector.
- Growth and Expansion Plans: CBM and One Equity Partners to focus on expanding CBM’s product portfolio and geographic reach through organic growth and strategic acquisitions.
- Comprehensive Support Network: The deal is supported by a strong advisory and financing team, highlighting the robust backing for CBM’s future endeavors.
One Equity Partners (“OEP”), a renowned middle-market private equity firm, today unveiled its latest strategic move by announcing a minority investment in CBM, a leading manufacturer of agricultural tractor attachment equipment. This partnership marks a significant step forward for CBM, positioning it for further growth and innovation in the agricultural equipment sector.
A Global Leader in Tractor Attachments
Founded in 1967 and based in Modena, Italy, CBM stands out as a global leader in designing and manufacturing a comprehensive range of tractor attachment systems. Specializing in 3-point linkages, trailer hitches, pick-up hitches, and hydraulic power lifts, CBM’s products are essential for enhancing agricultural efficiency and productivity. With around 1,800 employees and six manufacturing sites across Italy, Poland, India, and China, CBM’s global footprint is a testament to its commitment to quality and innovation.
Joseph Huffsmith, Partner at One Equity Partners, expressed enthusiasm about the partnership, stating, “We’re thrilled to be partnering with the Cornia Family who have built CBM into a global leader in the tractor attachment systems space.” He emphasized CBM’s crucial role in the agricultural equipment production chain and OEP’s commitment to supporting CBM’s legacy.
Strategic Growth and Partnership
The investment by OEP is seen as a pivotal moment for CBM, with the company poised to enter its next growth phase. “We believe One Equity Partners is the ideal partner to help guide CBM through its next stage of growth,” said Enrico Cornia, CEO of CBM. He noted the firm’s extensive experience in the manufacturing sector as a valuable asset in realizing CBM’s growth opportunities.
Haley Citrome-Grant, Vice President at One Equity Partners, highlighted the mutual excitement for the partnership, focusing on expanding CBM’s product range and geographical presence through both organic growth and acquisitions.
Matteo Lugli, CBM Group CFO, remarked on the significance of the collaboration, acknowledging the honor of coordinating the deal activities with OEP.
Comprehensive Advisory and Financing Support
The transaction was supported by an extensive advisory team. CBM received financial and tax advice from Studio Bagni Fiorcari Huller, with legal counsel from Studio Sutich Barbieri Sutich. One Equity Partners was advised by KPMG for financial and tax matters, Freshfields for legal issues, Malk Partners for environmental, social, and governance considerations, and Eidos Partners for transactional advisory.
Financing for the deal was arranged by Banco BPM, BPER Banca, Crédit Agricole Italia, and the IMI CIB Division of Intesa Sanpaolo, with Banco BPM serving as the Security and Facility Agent. Legal advice for the Mandated Lead Arrangers and Underwriters was provided by Legance – Avvocati Associati.
Photo by Dominik Sostmann on Unsplash
