Jamco Corporation, a Bain Capital portfolio company and Japan’s leading manufacturer of cabin interior equipment for the commercial aviation industry, and Bain Capital, a global private investment firm with US$185 billion in assets under management, today announced that they have signed definitive documentation for the acquisition of Iacobucci HF Aerospace S.p.A. (IHFA).

The transaction is expected to close within the end of 2025, subject to customary closing conditions.

Founded in 1994, IHFA is the premier developer and supplier of espresso and beverage makers, trash compactors, ovens and other galley inserts for commercial aviation. Under the leadership of CEO Lucio Iacobucci, IHFA has developed an innovative portfolio of products that elevate the passenger and crew experience and are renowned for both performance and reliability.

IHFA has its headquarters, product manufacturing and R&D in Ferentino, Italy and a global network of authorized repair centers to ensure rapid aftermarket service for airline customers. In addition to galley inserts, IHFA has also established a significant position in VVIP seats and customized trolleys.

As part of the transaction, Jamco Corporation will acquire 100% of IHFA’s shares from a vehicle managed by Lichtenberg Capital and other investors. IHFA will continue to operate as an independent company with the full continuity of its executive team, under the leadership of Kate Schaefer, Executive Chair of Jamco Corporation.

Kate Schaefer, Executive Chair of Jamco, stated, “Our acquisition of IHFA is highly strategic and accelerates our transformation of Jamco into the leading partner for widebody customers in cabin interiors.

“The availability of Jamco’s galleys with IHFA’s galley inserts, together with potential collaboration in premium seats, will create significant value that capitalizes on each company’s strengths in engineering, design, certification and customer service.”

Lucio Iacobucci, CEO of IHFA, remarked, “We believe that IHFA has always been the technology leader in galley inserts, but with the support of Jamco and Bain Capital, we can significantly expand our customer reach and manufacturing base to become the leader in these important categories.

“As premium widebody customers are investing in the passenger experience, IHFA will continue to be the partner of choice that sets the standard of customer experience in food and beverage equipment.”

Stefan Hamm, Managing Director at Lichtenberg Capital, stated “Our investment in IHFA through the pandemic is a good example of Lichtenberg Capital’s ability to provide capital plus operational and strategic solutions for founder-led European industrial companies. We are excited to see IHFA enter a new chapter of growth with the support of Jamco and Bain Capital.”

Advisors

Mediobanca (Frankfurt, Milan) acted as exclusive financial advisor to Lichtenberg Capital and IHFA management, with Nunziante Magrone Studio Legale acting as legal counsel.

Seabury Securities acted as exclusive financial advisor to Jamco Corporation and Bain Capital, with Ropes & Gray acting as legal counsel and New Deal Advisors advising on financial and tax diligence.

About Iacobucci HF Aerospace

Iacobucci HF Aerospace (IHFA) is a worldwide leader in the development, production and distribution of galley inserts, trolleys and seating products for both commercial and business aviation. The Company boasts a consolidated experience in the design, production, certification and maintenance of Espresso Makers, Coffee Makers, Water Heaters, Trash Compactors, Induction Ovens, Cooking Stations, Trolleys, Standard Units, Seating Products, Accessories and consumables. During almost 50 years of experience in the aviation industry and a strong focus on product innovation, over the past 18 years, the Company has expanded largely its business, product portfolio and production capacity to better serve its loyal customers. Thanks to its premium, made in Italy, durable, and innovative range of products as well as its best in-class customer service, the Company is the 1st choice among elite Airlines and private jet customers throughout the world. The Company plays a leading role in the main international markets through direct and regional account in key Countries, in addition to a professional network presence of repair and maintenance authorized stations in the five Continents.

About Jamco Corporation

Jamco is a premier global provider of aircraft interiors, holding leading positions in lavatories and galleys, a growing presence in business/first-class seating, and associated modification services. With more than 2,000 employees globally, Jamco combines decades of experience with advanced manufacturing and engineering expertise to create cabin products and services that elevate passenger experience, enhance operator efficiency, and set new standards in durability and design.

About Bain Capital

Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate, life sciences, insurance, and other strategic areas of focus. The firm has offices on four continents, more than 1,750 employees and approximately $185 billion in assets under management.

Bain Capital has a deep track-record of investing across the Aerospace and Defense value chain, including Jamco Corporation, Showa Aircraft Industry, Proterial (formerly Hitachi Metals), Virgin Australia, ITP Aero, MRO Holdings, Precinmac, KP Aviation and Griffin Asset Management.

About Lichtenberg Capital

Lichtenberg Capital is a private equity firm that specializes in supporting medium-sized companies in transitional situations. Our approach is characterized by passion, expertise and a clear goal: transforming challenges into sustainable success stories. We therefore support companies with a healthy operational core in the implementation of necessary transformation and change processes. We see ourselves as active shapers who not only contribute capital, but also knowledge, experience and commitment.

Featured image credited to istock.com/shironosov