The total enterprise value of the transaction is above EUR 100 million. Existing investor Xenon Private Equity, as well as the company’s CEO and co-founder, Giuseppe Bellandi, will also invest in substantial minority stakes.

Headquartered in Roncadelle in northern Italy, Gimatic develops and manufactures advanced pneumatic and mechatronic handling components and solutions for international blue-chip end customers and tier one suppliers in the automotive, plastics, electronics, food and pharmaceuticals industries, among others.

The global industrial robotics market, which was valued at USD36 billion in 2015, is experiencing rapid growth and is forecast to grow at 12% CAGR between now and 2022, driven in large part by China where the market is growing at 14% CAGR, according to MarketsandMarkets: Industrial Robotics Market, Global Forecast To 2022.

Gimatic has achieved revenue growth of over 20% CAGR over the last three years. In 2015, Europe accounted for almost 80% of the company’s revenue, with Germany and Italy the two main contributors. Asia revenue represented less than 10% of total sales in this period, underlining the significant potential for the business to increase its penetration in Asia, the world's fastest growing robotics and automation market.

AGIC’s investment will support Gimatic’s internationalization and expansion in Asia, especially in China. AGIC has already identified and secured commitment to collaborate with Gimatic in domestic Asian markets from a number of Asian and Chinese industrial automation and robotics companies. Furthermore, AGIC continuously evaluates options to support its portfolio companies including sourcing better financing solutions, driving organic and inorganic growth, delivering operational efficiencies, and leveraging synergies accross its complementary portfolio of companies.

The transaction is subject to customary closing conditions and is expected to close by the end of June 2016.