CBI is one of the leading manufacturers of industrial fans used for heavy-duty applications across multiple sectors including oil & gas, energy, infrastructure, steel, glass, cement, paper. Founded in 1961, CBI offers a wide range of fan solutions encompassing “standard” and heavy-duty fans as well as revamping and maintenance services.
CBI was initially acquired by Nicotra-Gebhardt in order to consolidate the Italian ventilation market and to achieve a dominant position in the attractive industrial fans segment similar to its leading position in comfort air applications. Our investment thesis was to acquire a company with a strong brand, well recognized for its high-quality products and a perfect complement to Nicotra-Gebhardt, especially from a product and end-market standpoint. Finally, we concluded that the merits of CBI becoming a separate standalone investment were significant and thus CBI was separated from Nicotra-Gebhardt in 2017.