On 16 April, Tuesday, Nexi will list on Milan Stock Market at a 9 euro per share price (see here a previous post by BeBeez).This is the lowest price of the new 9.00-9.50 price range that was redefined in the last few day by Nexi’s advisors (see here a previous post by BeBeez). Total market capitalization will then be 5.7 billion euros. Private equity funds Advent International, Bain Capital, and Clessidra and Italian banks Banco BPM, Banca Popolare di Sondrio, Banca di Cividale, Credito Valtellinese, and Iccrea Banca will sell their interests in Nexi.Equinox acquired 55% of QBS, the controlling shareholder of Quid Informatica, a software house and IT consulting for financial and corporate clients (see here a previous post by BeBeez). Elio Catania is now chairman of Quid, while Stefano Bertoli the company’s founder, kept his role of ceo. Banco Bpm, Mediocredito Italiano (part of Intesa), and Unicredit, financed the buyers. Quid has sales of 34 million euros, an ebitda in the region of 9 million. Equinox partners Andrea Bovone and Alessandro Dinardo carried on this transaction.
Italian fashion firm Golden Goose will pay an extraordinary dividend of 100 million euros to private equity firm Carlyle (see here a previous post by BeBeez). GG has sales of 185 million and an ebitda of 55 million, with a net financial debt in the region of 100 million. Carlyle acquired the company in 2017 on the ground of an equity value of 400 million from Ergon Capital Partners and DVR Capital. The company’s founders are Alessandro Gallo and Francesca Rinaldo. Carlyle sold a stake of GG worth 0.55 million to the company’s chairman Patrizio Di Marco and ceo Silvio Campara, who received the financing from the company itself at an annual rate of 1.5%.
Newlat, an Italian food company, acquired competitor Delverde Industrie Alimentari from Argentine peer Molinos Rìo de la Plata, on the ground of an enterprise value of 9.25 million euros (see here a previous post by BeBeez). Newlat said it will list about 40% of its equity on Milan Stock Exchange. Angelo Mastrolia is the chairman of Newlat, which received financial advisory from Oaklins Italy, and counsel from BonelliErede. Molinos hired law firm Studio Gianni, Origoni, Grippo, Cappelli & Partners. Delverde Industrie Alimentari ceo is Luca Ruffini.
Securpol, the Italian troubled security company, is up for sale for 15-30 million euros, sources said to BeBeez (see here a previous post by BeBeez). The company’s extraordinary commissioner Italo Soncini received 35 expression of interest and will soon send info memos. Soncini is a managing director of Alvarez&Marsal, a consultancy firm with focus on restructuring. Securpol has sales of 21 million, and debts of 150 million.
SICIT 2000, an Italian chemical business that is merging with Italian spac SprintItaly, had sales of 55.1 million euros in 2018, an ebitda of 22.7 million, net profits of 13.4 million, and net cash of 15 million (see here a previous post by BeBeez). Sicit The company, whose ceo is Massimo Neresini, will pay 50% of its net profits in dividends, ie 0.34 euros per share. Fineurop Spa., Gerardo Braggiotti, Matteo Carlotti, and Francesco Pintucci launched Sprintitaly, which will get 54% of the company resulting from the merger on the ground of an equity value of 160 million.
Italian outsourcing company F2A, part of Ardian portfolio, acquired CMP Consulting, a management advisory firm (see here a previous post by BeBeez). Davide Guzzi, the managing partner of CMP Group, will join F2A’s management team.Kpmg, law firms Studio Gattai, Minoli, Agostinelli & Partners and Studio Russo De Rosa Associati assisted F2A, that will generate revenues of 65 million euros after such an acquisition. The management of F2A, and the company’s chairman and ceo Luciana Dolci will acquire a minority of the business.
Kairos founder and ceo Paolo Basilico resigned, while Fabio Bariletti will take on the role of ceo for the Italian asset management company which is also an active investor in SPACs and private capital (see here a previous post by BeBeez). Julius Baer, the Zurich listed private banking firm, is the owner of Kairos and is reportedly selling the business with the support of Goldman Sachs.
N°21, the Italian fashion firm of the designer Alessandro Dell’Acqua, hired Ubi Banca for finding new partners (see here aprevious post by BeBeez). The company has sales of 60 million euros.
Intermediate Capital Group will acquire Italian pharmaceutical business Doc Generici from CVC Capital (See here aprevious post by BeBeez). Mérieux Equity Partners will co-invest with ICG. Unicredit, Bnp Paribas, Credit Agricole, andBarclays financed the buyers. Barclays acted as financial advisor to ICG. Gattai Minoli Agostinelli, Latham Walkins, White&Case provided legal assistance to the buyers. CVC hired law firm Legance and tax advisors Facchini Rossi & soci. The transaction is worth 1.1 billion euros. Doc has sales of above 200 million, an ebitda of 67.7 million, and net financial debt of 266 million.
Stefano Devescovi (a former banker of Lehman and Nomura, and founder of Terra Nova advisers) and Marco Pinciroli (cofounder of Innogest), together with Stefano Miccinelli (former partner of private equity firm Investitori Associati) founded White Bridge Investments II, a private equity company that bought offices and employees from White Bridge Investments, a first private equity veichle that the two manager launched back in 2013 raising capital from wellknown entrepreneurs and professionals (see here a previous post byBeBeez). Pinciroli is chairman of White Bridge Investments II.
Milan listed packaging company Guala Closures is said to have attracted interest from private equity firms such as Astorg and Advent as stock price is rather depressed while the business is good (see here a previous post byBeBeez). The company has sales in the region of 535 million euros and an adjusted ebitda in the region of 109 million.
Manuli Rubber Industries, an Italian industrial company that belongs to the eponymous family, hired William Blair for selling the business (see here a previous post by BeBeez). Manuli Rubber’s enterprise value is said to be about 500 million euros. The group has sales of 375.2 million, an ebitda of 48.8 million, net profits of 18.8 million, and net debts of 105.8 million. Manuli Rubber issued a 35 million euros minibond last year which is listed on Vienna stock market for which Bnp Paribas acted as lead manager. The bond will mature in 2024 and pays a 3.225% coupon. The list of Manuli Rubber potential suitors includes Alfagomma and Gates.
IpoC3, an investment vehicle promote by Azimut Global Counseling and Electa Ventures, raised 60 million euros from Ipo Club feeder fund (20 million euros), in turn promoted by Azimut and Electa, and from a group of private investors clients of Azimut Group. IpoC3 acquired 18.75% of Umbragroup (see here a previous post by BeBeez). The target is a producer of components for the aerospace industry and belongs to the Baldaccini Family. Umbragroup’s equity value is of above 300 million euros. The company’s turnover is of 215 million with an ebitda of 34 millioni. Antonello Macrucci and Antonio Baldaccini are the company’s chairman and ceo and will invest the proceeds of this sale in m&a transactions.
Aturia, the Italian subsidiary of listed Indian group WPIL, acquired Finder Pompe from NYSE listed peer Dover Corporation for 24 million US dollars (see here a previous post by BeBeez). Dover had taken over Finder Pompe in September 2013 through its subsidiary Pump Solutions Group for around 110 million euros, almost twice the company’s 2012 turnover (60 million) or over 11x the ebitda (see here a previous post by BeBeez). The seller was one of the Goldman Sachs funds into which the holdings of the Italian portfolio of Abn Amro Capital had merged in December 2008 when the managers of Abn Amro’s Italian private equity team led by Antonio Corbani had made the management buyout of the business supported by Goldman Sachs.
Astraco led a club deal of investors that acquired 60% of LB Invest, the owner of LB Officine Meccaniche, Sermat, and Sitec, producers of industrial systems for the ceramics manufacturing (see here a previous post by BeBeez). The Ligabue family, the vendors, will hold a minority. LBI has sales of 45 million euros. Private debt fund Fondo Impresa Italia, part of Riello Investimenti, financed the deal through the subscription of bonds worth 6.6 million euros.
