The transaction was structured and executed by Livingstone and involved the sale of 100% of Officine Minelli to Carnovali-CBS Group, alongside the reinvestment by Officine Minelli’s entrepreneurs as minority shareholders in the Group.
Founded in the 1950s and headquartered in Cazzago San Martino (Brescia), Officine Minelli specializes in the design and manufacture of material handlers for the recycling industry. Over more than seventy years of activity, the company has established itself as one of Italy’s leading players in its market segment, distinguished by the quality, reliability, and high performance of its solutions.
With 7 production facilities and more than 350 employees, Carnovali-CBS Group is today one of the most dynamic industrial players in the Italian recycling equipment and solutions market, offering a broad and diversified range of products and services, including containers, compactors, hook-lift set-ups, trailers, and many others.
The integration of Officine Minelli represents a further milestone in the Group’s growth strategy. Following the acquisition, Carnovali-CBS Group will exceed €100 million in revenues, further strengthening its market leadership and expanding its ability to serve customers through an increasingly integrated and complementary product offering.
The entrepreneurs of Officine Minelli will continue to play a central role in the company’s operations and future development, ensuring managerial continuity and preserving the expertise that has contributed to the company’s success.
“We are joining an ambitious industrial project built on a long-term vision and strong operational and commercial complementarities. Our continued active involvement in the business reflects our commitment to carrying forward the path initiated by the Minelli brothers and successfully developed in recent years under the leadership and guidance of Francesco Minelli, while preserving the heritage of expertise, relationships, and values that has made Officine Minelli a leading player in its market. We will continue to work with the same dedication, focus on product quality, and close attention to employees, our sales network, customers, and suppliers” said Stefano Minelli, William Minelli and Roberto Fiorini, the entrepreneurs leading Officine Minelli.
“In Officine Minelli we identified a high-quality and long-established company with distinctive expertise, a strong market reputation, and an industrial culture fully aligned with our Group’s vision. This transaction also represents a highly strategic step in our journey to develop and strengthen, including through targeted acquisitions, an integrated industrial platform and market leader in the recycling equipment and machinery sector,” stated Ruggero Carnovali and Simone Bolzoni, shareholders of Carnovali-CBS Group.
“We are proud to have supported the integration of these two highly complementary businesses, whose significant potential and synergies we recognized from the outset. We believe that Carnovali-CBS Group is the ideal partner to support and accelerate Officine Minelli’s growth trajectory, further strengthening its position in the market and enhancing its future development prospects,” said Luca Maccagnani CastelliandUmberto Rossi, respectively Managing Partner and Partner at Livingstone.
The transaction was financed by a banking pool comprising BCC Banca Iccrea, UniCredit and BCC del Garda.
With this transaction, Livingstone further strengthens its leadership and expertise in the circular economy sector, built through numerous transactions across waste management and related machinery and equipment markets.
