Leading Italian temporary employment agency OpenjobMetis selected its advisors for listing at the italian Stock Exchange by early December. The global offering will include both a capital increase and the sale of a stake of company’s capital by actual shareholders. Filing to Consob and Borsa Italiana will be made soon, MF-Milano Finanza wrote.
Global coordinator of the offer will be Equita sim (also sponsor, bookrunner, responsible for the placement and specialis)t; Daniela Toscani will be financial advisor fto the company; Lombardi Molinari Segni law firm will advise on Italian legal matters while Clifford Chance will cover international law issues; Reply will be industrial advisor; Kpmg will be accountant and fiscal advisor and Close to Media will cover the communication aspects.
“Most of the offer will consist of an increase in capital”, OpenjobMetis’s ceo Rosario Rasizza told MF-Milano Finanza, stressing that “thaks to ipo proceeds we will go on with our m&a activity lloking for other interesting opportunities to buy in order to keep on growing fast. Our target are companies with 50-150 million euros revenues”.
Born in 2011 from a merger between Opnjob and Metis, OpenjobMetis reached 400 million euros in revenues last year, with about 15 millions of ebitda and a net financial debt of about 67 millions.
Openjob is controlled by a fund by Italy’s Wise sgr (67%), by chairman Marco Vittorelli (Metis’s founder) and its family, by ceo Rasizza (Openjob’s founder) and by the management. Wise Equity II fund acquired an 87.5% stake in Openjob in 2003 and since then the company started an m&a campaign. It acquired Pianeta Lavoro, In Time, Quandoccorre Interinale and Just On Business; as OpenjobMetis its acquired Corium in 2013,
