Private Equity Group Acquires NW Global Vending

DALLAS -- An affiliate of Dallas-based Lone Star Funds has acquired N&W Global Vending, one of the world's largest vending machine manufacturers. The business was previously owned by private equity funds formed by Investcorp Investment Holdings and Equistone Partners Europe.

Headquartered in Valbrembo, near the northern Italian town of Bergamo, N&W Global Vending was formed in 2000 through the merger of Denmark's Wittenborg and Italy's Necta. N&W employs 1,700, has around 40% of the European vending machine market and operates manufacturing plants in Italy, Denmark and China. It had been owned by Investcorp since 2008. N&W had been valued at €690 million at the end of last year.

N&W produces food, snack and hot beverage vending machines, along with OCS equipment and payment systems. Its current management team will reportedly remain with the company after the change of ownership. The new owners hope to pursue selective growth initiatives in technological segments that complement vending and by expanding geographically, according to the official announcement about the acquisition.

"I look forward to working with the new owners, as Lone Star will be a strong partner to work with over the next stage of N&W's growth," said N&W chief executive Andrea Zocchi.