ACQUISITION OF RUAG AMMOTEC BY BERETTA HOLDING

Founded back in the 16th century and still owned by the founding family, Beretta is a widely recognized leader in the sector of premium light firearms, optics, clothing and accessories dedicated to hunting, sporting and personal defense. Starting from its Italian roots, Beretta has become increasingly more international and today represents a truly global leader with a turnover of €940m and an EBITDA of €220m (EBITDA margin of 24%).

Ammotec is the European market leader and best-in-class quality provider of small caliber ammunition and pyrotechnic elements for the Defense & Law Enforcement, Hunting & Sports and other Industrial application, counting several prestigious brands under its portfolio such as RWS, Norma, Rottweil, Geco. Ammotec is the main supplier of the Swiss and German armed forces and boasts a global footprint with 5 production sites in Europe and US and over 2,700 employees.

The Transaction will allow Beretta to reach a combined turnover close to €1.5bn and an EBITDA of c. €300m and to further expand its global footprint counting over 50 subsidiaries all over the world. In addition, such landmark Transaction will allow Beretta to fully complement its existing product offering, consisting of firearms and optics, with Ammotec ammunition thus reaching the most complete products portfolio in the light firearms and accessories field.

In the context of the Transaction, Mediobanca acted as M&A Financial Advisor to Beretta. Furthermore, Mediobanca acted as sole Global Coordinator, Mandated Lead Arranger and Facility Agent of the relevant acquisition financing package.

The Transaction testifies Mediobanca’s expertise in the Industrial/Defense sector as well as the strong capabilities in managing cross-border complex and very sensitive transactions, as also recognized by Beretta Group President and CEO, Mr. Pietro Gussalli Beretta, in the official press release: “We have been very pleased by the deep understanding, full dedication, and high professionalism of Mediobanca, always so close to worldwide operating traditional family owned businesses”.

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