PRINT THIS PAGE Alto Partners Development Capital to sell Italian manufacturer Metalcastello08/04/2008. Source: AltAssets. 
Milan-based mid-market buy-out firm Alto Partners, through its Development Capital I fund, has agreed to sell its majority stake in Italian independent gear manufacturer Metalcastello, alongside other investors, to Indian manufacturer Mahindra & Mahindra and Indian private equity firm ICICI Venture. The agreement is the result of an auction. Mahindra & Mahindra and ICICI Venture Funds Managements will acquire 100 per cent of the company. The enterprise value of the deal is in excess of €100m, Alto Partners said.
Metalcastello, based near Bologna, has revenues in excess of €60m, according to a statement.
Gabriele Pierotti will continue to be CEO of Metalcastello.
ICICI Venture, a subsidiary of ICICI Bank, has in excess of $2bn in funds under management.
Alto Partners focuses on investing in Italian companies.
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