Acquisition Financing


Founded in 1900 and headquartered in Basiano, Italy, Carco SRL is a manufacturer of bespoke, large diameter, high performance seals. Carco’s products are used to support a variety of critical applications spanning end-markets, such as marine, energy, oil and gas, metal processing and heavy construction. In recent years, Carco has experienced strong organic growth driven by the opening of subsidiaries in the U.S., Germany, France and Asian markets as well as by solidifying its market position within Italy.

In early 2015, Carco and its financial advisor, Medit Capital Partners, approached the market to seek a financing partner to support the next phase of the company’s growth, as Carco sought to execute its first cross-border acquisition to accelerate expansion into the U.S. Additionally, management was interested in consolidating ownership by buying out a meaningful minority investor.

Pricoa Capital Group structured a flexible, one-stop financing package that included senior and subordinated debt as well as an accordion to facilitate future tuck-in acquisitions. With terms agreed, the transaction was financed in two phases with the first phase closed in less than four weeks after terms were agreed.

Faced with a short deadline to close and the complexities of a cross-border and multi-phased transaction, Carco chose to partner with Pricoa based on its ability to move quickly, the certainty of execution afforded by a one-stop funding solution, multi-currency capabilities, and local market presence and deep experience of investing in Italy. Pricoa’s long-term and patient funding provided an ideal platform to support management’s future growth ambitions across Europe, Asia and the U.S.