Italian buyout firm Investitori Associati has lost its investment in vending machine company Gruppo Argenta after it decided not to stay alongside co-investor Cognetas in injecting more equity in a restructuring.

Cognetas has taken control of the Italian company after investing an additional €65m ($94m) but Investitori was unwilling to take part in an extra investment and so surrendered its stake. Both firms previously had stakes of around 40%, according to one source with knowledge of the situation.