The investment will enable the company to partially repay its current lenders as well as support its growth.
Gruppo Argenta will also receive €10m from shareholders, KKR said in a statement.
The company currently has 18 operational centres in Italy and its machines are located in 88,000 sites, including companies, offices, public institutions, universities and outdoor locations such as petrol stations, airports and shopping centres.
KKR Asset Management director Mark Brown said, “We have been impressed by the efficiency of the Company’s operations. We believe the company now has a long-term, patient capital structure to pursue growth, both organically and through selective acquisitions.
“Over the past few years, we have invested over €2bn in Europe, supporting companies in Italy, Spain, France, the Netherlands, UK and Sweden. Our investment funds are built on long-term capital and offer a solution to companies whose access to traditional bank lending is under pressure and to banks who seek to decrease their exposure.”
KKR and fellow private equity firm Affinity Equity Partners have recently agreed to sell South Korea’s Oriental Brewery back to the world’s largest brewer Anheuser-Busch InBev in a $5.8bn deal including debt.
Copyright © 2014 AltAssets