European leader in the production and distribution of diagnostic instruments (ultrasound, MRI, technical assistance and IT to hospitals).

Leading manufacturer of ultrasound (u/s) and dedicated magnetic resonance (MRI) imaging equipment:

• Ultrasound: choice of reference for a wide range of clinical applications on soft-tissue organs
• As at 2005 Esaote had produced 92% of all dedicated MRI machines ever built

2005 global market estimated at $ 3.3 bn (US: c.40%; EU: c.35%).

Manuli Film manufactured and distributed BOPP films.

The 4th largest European manufacturer in its field, the Manuli Film production unit in Sessa Aurunca (near Naples) was the largest in the world with a maximum output of 100,000 tons per year and five BOPP lines.

The BOPP films Manuli produced had multiple applications spanning food and non-food products, print lamination, adhesive tapes and labels.

The business had strong cash flows, with other key competitors controlled by private equity investors.

Founded in 1878, G. Citterio is one of the oldest high-quality meat producers in Europe.

Four main product categories: ham (“cotto” and “crudo”), mortadella and salami. These four product categories account for 81,3% of the overall sales.

Citterio Finanziaria (CF) – where Equinox had governance rights – was the main shareholder in G. Citterio, owning 36% of the business.

British heritage luxury shoe manufacturer founded in 1873 by Thomas Church in Northampton, owned by the luxury group Prada.

Targeting upper end of the men’s market through ‘Church’ and ‘Cheaney’ brands.

Global offering with 25 stores in Europe, 18 in North America and 2 in the Far East.

Leading global manufacturer of color cosmetics (€ 28 bn in 2002), supplying premium market leading brands – Chanel, Estee Lauder and L’Oréal.

Large and growing addressable market across Europe, the USA and Asia.

Entrepreneurial founder focused on internationalisation and expansion of the product portfolio.

Industry characterised by key success factors:

• high quality products
• price setting ability
• constant innovation

Global leader in desalination plant engineering and contracting, a € 6 bn global market, 70% of which is in the Persian Gulf.

15% global market-share and 37% market-share in the Persian Gulf.

First producer of MSF (Multi Stage Flash) desalination technology.

Established market leadership in the 1990s, amassing total installed capacity of 350 million Gallons Per Day.

At the time of the acquisition Fisia acquired 60% of Fisia Babcock (waste to energy and flue gas treatment), a large contract win in Campania.

Leading Italian ferry-boat operator.

Extensive routes across Italy, Sardinia, Corsica and the Elba Islands.

Transported 3 million passengers in the year prior to acquisition (2001), 3.5 million in 2003.

Tirrenian islands market leader holding 60% market share.

6,000 travel agencies in Italy alone and 22,000 across Europe in total.

Operator of Italy’s executive aviation industry with a fleet of 11 jets.

Possessed one of the best European maintenance centres situated at the Milan Linate ATA airport, fully dedicated to business aviation and boasts a 24/7 operation centre.

European aviation market recorded double digit growth between 2004 and 2008.

Post Fund I divestment Esaote remained one of the leading European manufacturers of ultrasound and dedicated magnetic resonance (MRI) imaging equipment.

Good product portfolio of ultrasound ranging from portable to high end systems. Strong positioning in dedicated MRI in niche markets, such as veterinary.

As at 2009 the business was at the forefront of the miniaturisation of the industry.

A conglomerate with a diversified portfolio of financial and industrial assets.

A high leverage ratio meant the company was at risk of bankruptcy in 2008.

Equinox led the rapid reorganisation of undervalued portfolio of illiquid assets:

• Trade sales of real estate properties directly owned by Hopa
• Debt restructuring of Bios (sub-holding invested in Sorin)
• Run-off of derivatives portfolio
• Trade sale of industrial companies
• Reorganisation, delisting and trade sale of Everel
• Extracted medical technology business, Sorin

State-owned business created out of a merger of Alitalia and AirOne (Italy was the 5th largest European market for leisure and business travellers, 8th globally).

Alitalia CAI acquired the industrial activities of Alitalia with the aim of recovering the operations of the former airline and expanding the business to fully serve the Italian market.

Alitalia was acquired as part of an asset deal from a bankruptcy procedure by a consortium, including Equinox, prior to being merged with AirOne.

LivaNova PLC is a global medical technology company built on nearly five decades of experience and a relentless commitment to improve the lives of patients around the world. LivaNova’s advanced technologies and breakthrough treatments provide meaningful solutions for the benefit of patients, healthcare professionals and healthcare systems.

Headquartered in London, LivaNova has a presence in more than 100 countries worldwide. The Company currently employs more than 3,500 employees.

LivaNova operates as two business franchises: Cardiac Surgery and Neuromodulation, with operating headquarters in Mirandola (Italy) and Houston (U.S.A.), respectively.

 

Bioenergie is a group of companies operating in the renewable energy sector.

Principal focus on the production of electricity from solid biomass (woodchip as feedstock).

Group companies have combined net power of:

• 94 MW in biomass from three power plants
• 15.3 MW in solar energy through photovoltaic fields in Central Italy
• 2.0 MW through two power biogas plants

German fashion retailer targeting customers in the 45+ age bracket, estimated to represent 50% of the German population by 2020.

Operates 180 textile stores across Germany, Austria, Switzerland and Luxembourg.

Strong market dynamics:

• German value clothing market worth circa €13bn
• Growing price sensitivity of consumers
• Increasing demand for high quality clothes at affordable prices