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Advent International to sell Gruppo Argenta to Cognetas, Investitori Associati20/12/2007. Source: AltAssets. 
 Advent International has sold Italian vending machine operator Gruppo Argenta to Cognetas and Investitori Associati. As part of the sale, minority shareholder PM & Partners will also dispose of its stake in the business. The company's management team will retain a minority stake. The value of the transaction has not been disclosed.
Advent invested in Gruppo Argenta in June 2005, backing an established management team including the company's founder, Epaminonda Scaltriti.
John Singer, the managing director who led the investment for Advent, said, 'We have greatly enjoyed working with Argenta's first-rate management team to accelerate the expansion of this market-leading business. Buy-and-build strategies are immensely challenging but significantly value-enhancing when executed correctly and the operational approach they demand is absolutely representative of Advent's investment strategy. There is plenty of growth to come in this business and we wish management and employees the very best for the next stage of their development.'
In Italy, Advent's other investments have included Venere.com, an Italian online hotel reservations company and outdoor advertising group AVIP.
In a separate transaction, Cognetas recently sold outsourced support services provider Global Solutions to security solutions group G4S for £355m.
Copyright © 2007 AltAssets
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