Nuo Capital to acquire a 30% stake in Ludovico Martelli for $56m.

Nuo Capital, a Chinese fund, agreed to acquire a 30% stake in personal care products manufacturer Ludovico Martelli for $56m. The transaction will take place partly through share purchase and part through a capital increase. The price reflects a valuation of the company of $167m, as estimated at the beginning of June. Ludovico Martelli belongs to the Martelli family (90%). Today it is based in Fiesole and has 105 employees. The company is led by CEO Giovanni Galeotti, who holds the remaining 10% of the capital.