The activity of Italian private equity firms is steady on the fundraising front as well as on the M&A and listing.
Tatuus Racing, a designer and producer of Formula 4 cars that belongs to private equity firm Wise sgr, acquired 75% of Breda Racing, a producer of automotive components (see here a previous post byBeBeez). Tatuus acquired this stake from founders Giorgio and Roberto Breda, and shareholder Massimo Rizzo. Tatuus Racing executives are Gianfranco De Bellis, Artico Sandonà, and Giovanni Delfino. The company has sales of 6.7 million of euros and net cash of 0.787 million. This is the second acquisition by the company aiming to create a pole in the motorport sector.
Lutech Group, an Italian provider of IT consultancy, system integration, and IT outsourcing that is a portfolio company of One Equity Partners, acquired Tecla.it, a digital commerce business (see here a previous post by BeBeez). Tecla.it owns 2mlab, a UI/UX design web agency and Stepfour.Carlo Visani is the ceo of Tecla, while Stefano Zauli is the company’s coo and cto. Tecla.it has sales of 9.9 million euros, an ebitda of 1.1 million, and net cash of 0.7 million. Tullio Pirovano is the ceo of Lutech, which has sales of 149.2 million, an ebitda of 9.9 million and net financial debts of 45.2 million.
F2i, the Italian investor in infrastructures, raised 3.6 billion of euros for its Third fund (see here a previous post byBeBeez). Renato Ravanelli, ceo of F2i, previously told BeBeez that the fund increased its fundraising target from 3.3 to 3.6 billions. Pension funds, sovereigns funds, banks, insurance companies and wealth management firms provided such resources. Capstone Partners assisted F2I for the international placement, while BnpParibas and Mediobanca acted as financial advisers. Chiomenti and Cleary Gottlieb provided legal counsel.
The shares price of Digital Value, the IT group born out of the merger of Italware with ITD Solutions, climbed by 7% at 10.70 euros at the closure of the first day of trading on Aim Italia (see here a previous post by BeBeez). Digital Value raised 22.5 million of euros for a 25% publicly traded stake of its equity and will invest such resources in its organic growth and acquisitions. The company launched this ipo with the Spac-in-Cloud model available on the Italian Stock Market private placement platform Elite Club Deal and structured together with Electa Group (Simone Strocchi and Angela Oggionni). Ipo Club, the fund with a focus on pre-ipo deals that Azimut and Electa Ventures created, acted as cornerstone investor. Digital value has sales of 259 million and an ebitda in the region of 19.6 million. The controlling shareholders are Massimo Rossi (Italware founder), Carlo Brigada (chairman of ITD), and Riccardo Benedini, and further sector entrepreneurs. Founding shareholder accepted a price adjustment shares agreement. Therefore their stake will diminish if Digital value doesn’t achieve few financial targets (see here a previous post byBeBeez).
Kind Regards,
Salvatore Bruno
