F2A, a leader in integrated services in the field of human resources and administration, controlled by Ardian, refinanced its medium-long term debt in order to support further acquisitions.
F2A reached 53.3 million euros in revenues in 2017, with 8 millions in ebitda and 20.1 millions in net financial debt, while medium-long term debt was 21.9 million euros (see here an analysis by Leanus, after free registration and login).
The pool of banks involved includes Banca Ifis, Cariparma and UniCredit (mandated lead arranger and lender banks) and Banco Bpm (mandated lead arranger, lender bank and agent bank). Banks were supported by Dentons law firm, while F2A was advised by Gattai Minoli Agostinelli law firm.
Headquartered in Milan, F2A provides outsourcing services for personnel and accounting management to Italian and multinational blue chip companies. The group was born in 2006 from the merger between Fis (providing accounting and administration services in outsourcing, founded in 1962) and Antex (also founded in 1962 and active in the provision of human resources services).
Ardian had bought control of F2A in February 2016 from Argos Soditic e the management led by chairman and ceo Luciana Dolci, who reinvested in the company for a minority stake (see here a previous post by BeBeez).
