HIG Capital Expands European Aerospace Presence with Acquisition of A.L.A.

H.I.G. Capital has strengthened its position in the European industrial sector with the acquisition of a majority stake in A.L.A. S.p.A., an Italian aerospace logistics and supply chain firm listed on the Milan Stock Exchange (ALA.MI). The transaction, announced on October 21, reflects growing private equity interest in Europe’s defense and aviation supply chains as governments increase military spending and commercial production rebounds.

Positioning in a Rebuilding Sector

A.L.A., headquartered in Naples, provides procurement, inventory management, and distribution services to aerospace and defense manufacturers. The company acts as an outsourced logistics partner, managing vendor coordination, quality assurance, and regulatory compliance for complex manufacturing programs.

Founded in 1990 by Fulvio Scannapieco and Vittorio Genna, A.L.A. has served major European defense contractors for more than three decades. Both founders will retain minority ownership and continue to lead the company under H.I.G. Capital’s majority control.

“The company’s strong growth trajectory and strategic role within the European aerospace and defense supply chain make it an attractive long-term platform,” said Stefano Giambelli, managing director on H.I.G. Capital’s European Middle Market LBO team.

Defense and Aviation Demand

The acquisition comes amid rising defense budgets across NATO member states, including Italy, which is moving toward the alliance’s 2% of GDP defense spending target. Sustained investment in equipment modernization has increased demand for certified suppliers and logistics specialists capable of coordinating complex procurement networks.

Commercial aviation trends have further reinforced this demand. Aircraft manufacturers continue to face multi-year order backlogs, and airlines are pushing for faster deliveries as travel recovers. These conditions have highlighted supply chain bottlenecks and driven renewed investment in logistics infrastructure.

Alignment with H.I.G. Capital’s Investment Strategy

For H.I.G. Capital, which manages more than $70 billion globally, A.L.A. fits the firm’s focus on middle-market businesses with operational depth and defensible market positions. The Miami-headquartered private equity group, founded in 1993 by Sami Mnaymneh and Tony Tamer, has invested in more than 400 companies worldwide, including approximately 100 active portfolio holdings.

Both founders have emphasized H.I.G.’s disciplined approach to the middle market and consistent operational execution. At the close of its $5.9 billion WhiteHorse Middle Market Lending Fund IV in 2025, Mnaymneh and Tamer said the firm remains “disciplined in maintaining our middle market focus” and committed to generating “strong performance driven by scale and operational capabilities.”

Broader European Activity

The acquisition of A.L.A. continues H.I.G.’s investment momentum across Europe. In Italy, the firm recently launched Boxengo, a self-storage platform targeting the Milan and Rome markets. Elsewhere, it completed the purchase of France Workwear from Rentokil Initial, a workwear rental and textile services business with more than 20,000 clients.

Additional European transactions in 2025 have included the acquisition of ITH Group Limited, a UK pharmaceutical compounding services company, and a controlling stake in The Grounds Real Estate Development AG, a German residential developer. The firm also realized select exits, including the sale of Spanish mobility operator EYSA to Tikehau Investment Management.

Future Growth Potential

Markus Noe-Nordberg, head of H.I.G.’s European Middle Market LBO team, said A.L.A. benefits from long-term demand in both defense and civil aviation supply chains. “We look forward to supporting A.L.A.’s management team as they pursue expansion across Europe and beyond,” he said.

H.I.G. Capital maintains offices in London, Hamburg, Madrid, Milan, and Paris, supporting regional sourcing and portfolio management. The firm’s local presence and buy-and-build expertise are expected to provide A.L.A. with access to growth capital and cross-border acquisition opportunities.

As Europe’s aerospace and defense sectors consolidate, firms with established certifications and customer relationships—such as A.L.A.—are positioned to attract continued investor interest. For H.I.G. Capital, the transaction expands its industrial portfolio and reinforces its role as a leading private equity investor across European middle markets.