H.I.G. Capital has acquired a majority stake in A.L.A. S.p.A., an Italian aerospace logistics and supply chain firm that has supplied European defense contractors for more than three decades. The company's founders will retain a minority share and continue leading operations. Financial terms were not disclosed.
Longstanding Supplier in Aerospace
Headquartered in Naples and listed on the Milan Stock Exchange under the ticker ALA.MI, A.L.A. provides procurement, distribution, and inventory management services to aerospace and defense manufacturers. The firm acts as a single-source logistics partner, coordinating suppliers, components, and compliance for manufacturers operating in complex, regulated environments.
Founded in 1990 by Fulvio Scannapieco and Vittorio Genna, A.L.A. built its reputation on reliability and technical precision, attributes valued by defense and aviation customers. Both founders will remain in their current leadership roles under H.I.G.'s ownership to ensure continuity for existing clients.
"The company's strong growth trajectory, operational excellence, and strategic positioning within the European aerospace and defense supply chain make it a compelling platform investment," said Stefano Giambelli, a managing director with H.I.G. Capital's European Middle Market LBO team.
Alignment with H.I.G. Strategy
The acquisition aligns with H.I.G. Capital's strategy of investing in mid-sized industrial and service businesses with specialized capabilities and established customer bases. The firm manages more than $70 billion in assets and has invested in over 400 companies since its founding by Sami Mnaymneh and Tony Tamer in 1993.
Both founders continue to lead the firm as executive chairmen. They have emphasized H.I.G.'s consistent focus on operational value creation in the middle market—a principle that has guided the firm's expansion across Europe.
A.L.A.'s role as a logistics provider fits this model. Aerospace manufacturers increasingly outsource supply chain functions to trusted third parties to reduce costs and mitigate disruption. Private equity investors have shown renewed interest in such companies amid rising defense spending and a rebound in commercial aviation.
Broader European Activity
The A.L.A. acquisition extends H.I.G.'s recent investment activity across Europe, particularly in Italy. Earlier this year, the firm launched Boxengo, a self-storage platform targeting Milan and Rome, with five initial properties and additional openings planned for 2026.
In October, H.I.G. also completed the acquisition of France Workwear from Rentokil Initial, a textile services business with 34 facilities and more than 21,000 clients. Previous 2025 transactions included the purchase 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 focused on the Berlin region.
At the same time, H.I.G. continued to realize portfolio gains, selling Spanish parking operator EYSA to Tikehau Investment Management in August.
Market Fundamentals
Markus Noe-Nordberg, head of H.I.G.'s European Middle Market LBO team, said A.L.A.'s position within the defense supply chain offers growth potential supported by structural demand. "We are pleased to welcome A.L.A. to the H.I.G. family and look forward to using our resources to help the company reach its full potential," he said.
The investment comes as European NATO members raise defense spending toward the 2% of GDP benchmark. Italy's budget has grown alongside that of other EU members, benefiting domestic suppliers and logistics contractors. A.L.A.'s established certifications and client relationships position it to serve both national and cross-border defense programs.
Commercial aviation recovery adds a secondary growth driver. Aircraft manufacturers continue to manage production backlogs as airlines seek faster deliveries. The resulting supply chain pressures have increased demand for logistics firms capable of coordinating materials, quality control, and compliance across multiple vendors.
European Platform Expansion
H.I.G. Capital maintains offices in London, Hamburg, Madrid, Milan, and Paris, providing local coverage across major European markets. The regional footprint supports sourcing, portfolio management, and cross-border expansion for existing holdings.
For A.L.A., inclusion in H.I.G.'s portfolio provides access to capital and acquisition expertise that could accelerate international expansion. The firm's private equity model—focused on operational improvement and buy-and-build strategies—positions A.L.A. to extend its capabilities beyond Italy and into adjacent markets.
The transaction also reflects ongoing consolidation in aerospace and defense supply chains. As governments sustain higher defense budgets and commercial aviation continues its recovery, investors are targeting specialized firms with recurring revenues and high certification barriers.
A.L.A.'s addition to H.I.G.'s portfolio underscores that trend, combining a long-tenured management team with the resources of a global investment platform focused on middle-market industrial assets.
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