Limonta Sport, an Italian company that produces synthetic turf, was sold to SLG, also a synthetic turf producer. Under the terms of the transaction, the Limonta family and the management of Limonta Sport become shareholders of SLG, joining SLG management and Chequers Capital, the controlling shareholder of SLG. Paolo Limonta, currently the executive chairman of Limonta Sport, will join SLG’s board.
Limonta Sport, owned by the Limonta family, is a leading company in the development, manufacturing, and sale of artificial sports grass for sports applications with revenues over EUR 50 million and EBITDA margin over 20%. Limonta Sport operates manufacturing facilities in Cologno Al Serio (Italy), Ascuncion (Paraguay), and Huizhou (China).
SLG, acquired by SLG management and Chequers Capital in June 2017, is a Belgian group specialized in the development, production, and sale of artificial turf for sports and leisure applications with revenues of approximately EUR 60 million. The company is active through its brands Domo Sports Grass, Fungrass, and Namgrass. SLG headquarters are located in Sint-Niklaas (Belgium) where it operates one of the world’s largest artificial-turf production facilities.
Both companies will continue to serve their customers independently and develop their own growth plans under the supervision of Sports and Leisure Group CEO John Penninck.
Clairfield International in Italy acted as the exclusive financial advisor to the Limonta family. Hi.lex served as legal advisor.
Sports and Leisure Group was advised by Gianni, Origoni, Grippo, Cappelli & Partners, Allen & Overy and KPMG.