Apax Partners bought a majority stake in Business integration partners (Bip), the leading Italian strategic advisory company with a special focus on helping companies to develop disruptive technological solutions (Industry 4.0). With this deal Apax aims at bringing Bip to compete internationally with McKinsey, Boston Consulting and Accenture (see here Reuters).
The deal is said to be valued about 200 million euros and Apax will invest 100 million euros more in order to help Bip growth both internally and by acquisitions, Corriere della Sera wrote. Apax has a strong experience in the tech&telco sectorso. In Italy today Apax own a stake in IT company Engineering, together with NB Renaissance Partners, after having delisted the company from the Italian Stock Exchange (see here a previous post by BeBeez).
The seller is Argos Soditic, that in May 2014 supported the management buyout by twelve top-managers led by the founders Nino Lo Bianco (chairman) and the two ceos Carlo Capè and Fabio Troian (see here a previous post by BeBeez). Lo Bianco, Cape’ and Troiani will keep on managing the company and will still be shareholders.
Apax was advised by Fineurop Soditic and by Gianni Origoni Grippo Cappelli & Partners law firm. Bip’s shareholders were supported by Equita sim as for financial matters and by Gatti Pavesi Bianchi law firm. Lodovico Bianchi Di Giulio was the lawyer advising Bip.
Founded in 2003, Bip is now a active internationally and counts 1800 employees in Italy, UK, Spain, Turkey, Brazil, Belgium, Switzerland, Usa, Uae, Chile and Colombia.
The company reached 114.9 million euros in consolidtaed revenues in 2016, with 18.6 millions in ebitda and a net financla debt of 6.7 millions (see here an analysis by Leanus, after free registration and login). Consolidated revenues reache 180 million euros in 201, taking into consideration that last September the company both an operative branch of Artax Consulting, a sales strategic advisory company (see here a previous post by BeBeez).
