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ABN Amro Capital, AAC Capital Partners to sell Global Garden Products to 3i11/10/2007. Source: AltAssets. 
 ABN AMRO Capital and AAC Capital Partners, the former ABN AMRO Capital Northern European mid-market buy-out team, have agreed to sell Global Garden Products to 3i and company management. The transaction values the Castelfranco Veneto, Italy-headquartered manufacturer and distributor of lawn mowers and powered garden equipment at €730m.
GGP manufactures walk-behind and ride-on lawn mowers and hand-held gardening equipment. Its leading brands include Stiga, Castelgarden, Mountfield, Alpina and Belos. The company also produces private label products for garden and DIY centres in Europe. CEO Pierluigi Tosato leads the company's management team.
Marco Fumagalli, partner and managing director of 3i Italy, said, 'The current situation in the financial markets is not easy and closing the deal for the acquisition of GGP required a good dose of courage and creativity. We are very pleased that we will be able to work in partnership with the management team in order to grow the business and prepare it for an IPO.'
Following completion of the transaction, the GGP board will include group CEO Pierluigi Tosato, 3i senior advisor Paolo Antonietti as chairman, Marco Fumagalli, partner and managing director of 3i Italy, as non-executive director, and Lorenzo Salieri, partner of 3i Italy, as non-executive director.
A few months ago GARDENA changed hands when Industri Kapital sold its shares in the Ulm, Germany-headquartered manufacturer of gardening tools, to its larger, Sweden-based competitor Husqvarna for €730m.
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