Cdp Equity and Poste Italiane are in advanced talks for buying the stakes that F2i sgr (17.05%) and HAT sgr (8.64%) have in Sia, the Italian provider of IT infrastructures for financial services (see here a previous post by BeBeez). Sources said to BeBeez that talks are going on the ground of an enterprise value of Sia of 3.2 billion euros. FSIA Investimenti belongs to Cdp Equity (70%) and Poste Italiane (30%) and owns 49.48% of Sia. FSIA may get 75.17% of the company together with their call option for the stakes that Unicredit and Intesa Sanpaolo hold in the business and amount to 7.94%. Sia’s equity value is in the region of 2.5 billions. Sia is one of the portfolio companies that BeBeez Private Data monitors. Find out here how to subscribe to the Combo version which includes reports and insight views of BeBeez News Premium 12 months.
Carlyle signed the agreement for buying the whole of Forgital, an Italian producer of industrial components, from the Spezzapria Family (83% owner), Neuberger Berman, and Milan Listed NB Aurora (see here a previous post by BeBeez). Forgital’s enterprise value is of 950 million euros. EU Antitrust and Italian and French golden power have to give their approval. Forgital has sales of 419.4 million, an ebitda of 82.7 million, and net financial debt of 108.8 million.
French dairy producer Lactalis acquired Italian competitor Nuova Castelli from 80% owner Charterhouse (see here aprevious post by BeBeez). According to market rumours the asset was of interest also to Granarolo, Capvest, Oxy Capital,QuattroR, and Italmobiliare. Nuova Castelli has sales of 460 million euros, a 27 million ebitda, and net financial debts of 190 million. Dante Bigi has 20% of Nuova Castelli.
Italian security firms Mondialpol and Allsystem signed a letter of intents for a merger (see here a previous post byBeBeez). The new company will have sales of 350 million euros. Vincenzo Serrani is the controlling shareholder of AllSystem, of which Private Equity Partners owns a minority.
Swedish group Atlas Copco will buy Eurochiller, a producer of systems for refrigeration, from 85% owner Bravo Capital Partners and 15% shareholders Giovanni Orio, Ugo Varisco, and Cesare Barbè (see here a previous post by BeBeez). Eurochiller has sales of 26 million euros.
French private equity fund ArchiMed acquired the majority of Diesse Diagnostica Senese, a Milan-based diagnostic company (see here a previous post by BeBeez). Vendors are Waraw-listed Orphée sa (45% of shares and 50% of voting rights), Diagnostica Holding (45%) that belongs to Sergio Benocci and other five entrepreneurs; and Diesse Immobiliare (10%). MPS Capital Services and BPER Banca financed ArchiMed. Orphée gained 13.3 million euros out of this sale and may get an earn out of up to 1.2 millions. Diesse has sales of 22.85 million (21.5 million yoy), an ebitda of 6 million (4.6 million), net profits of 2.2 million (1.2 million), and net financial debt of 10.1 million (14,1 million). Stefano Marchese, former company’s ceo, said that Diesse is worth 8x ebitda.
Private equity Bregal Milestone acquired 30% of Italian provider of prepaid cards Epipoli (see here a previous post byBeBeez). Gaetano Giannetto, the founder of Epipoli, said that the company will invest the proceeds of the sale in its organic development and in international acquisitions. Epipoli has sales of 50.4 million euros, an ebitda of 1.1 million, and a net financial debt of 5.9 million. Milan-based Inside Partners acted as financial advisor to Epipoli.
Trilantic Capital Partners Europe sold 15% of Milan-listed gambling company Gamenet Group (see here a previous post byBeBeez). The fund carried on the sale through an accelerated book building procedure for institutional investors at 8.35 euros per share or 37.575 million euros. Trilantic will keep 30.24% of Gamenet with a lock-up of 90 days. Vittorio Pignatti Morano Campori and Guglielmo Angelozzi are the company’s chairman and ceo. Gamenet has sales of 646.14 million and an ebitda of 104.71 million.
Riverside is frontrunning for the acquisition of soft drinks producer Galvanina, which is of interest also to water bottler Ferrarelle and private equity funds Alto Partners and IdeA Taste of Italy (see here a previous post by BeBeez). Galvanina’s value is in the region of 80 million euros, or 8 x ebitda. The Mini family is the owner of Galvanina which generates abroad 90% of its 50 million turnover.
The Carlyle Group is going to sell Marelli Motori to UK investment holding Langley plc (see here a previous post byBeBeez). Buyers will pay Marelli’s 55 million euros debt. Carlyle acquired Marelli Motori in 2013 for 212 million (9.5x ebitda of 2012) from UK Merlose Industries. Mauro Sacchetto is the ceo of Marelli Motori.
Walter Ricciotti, the cofounder (together with Alessandro Binello) of private equity Quadrivio Group said to BeBeez that their two new funds raised 250 million euros ahead of a target of 500 million (see here a previous post by BeBeez). As previously reported, Quadrivio launched a fund with a focus on traditional Made in Italy sectors (target 200 mln euros, first closing at around 100 mlns) and a second fund with a focus on Industry 4.0 (target 300 mln euros, first closing at 150 mlns).
Arcadia sgr announced the final closing of its second fund Arcadia Small Cap II at 80 million euros (see here a previous post by BeBeez). In March 2018 Arcadia announced that its fundraising target was of 100 million. Simone Arnaboldi and Guido Belli head the management company, which raised 40% of its resources from the European Investment Fund (EIF) and other foreign investors. The first fund Arcadia Small Cap generated a net Irr of 11%. The second fund already invested 25% of its resources for acquiring Chiorino Technology, an Italian tannery company, and 75% of Castello Italia, a producer of industrial components.
UK based financial investor EOS Investment Management Group (EOS IM Group) and Renergetica signed an agreement for developing a pipeline of authorizations for Italian photovoltaic plants with a power of 110 – 250 MW (see here a previous post by BeBeez). Davide Sommariva is the chairman of Renergetica, an energy company, which started its activity in 2008 and listed on Milan Aim in August 2018. The company has sales of 6.6 million euros and a 44% ebitda. Ciro Mongillo is the founder of EOS IM Group.
HMSHost Corporation, a subsidiary of Autogrill, and KD Infrastructure sold their motorways activity in Canada to Arjun Infrastructure Partners, Fengate Capital Management, and other investors (see here a previous post by BeBeez). These activities have a turnover of 111 million US Dollars. HMSHost will gain 190 million (255 million Canadian Dollars). Autogrill is a Milan listed provider of restoration services for motorways.
Lutech, an Italian system integration and IT outsourcing company that belongs to One Equity Partners, acquired Disc, a system integrator and a software house (see here a previous post by BeBeez). Disc has sales of 23 million euros, an ebitda of 3.57 million and net cash of 6.63 million. Lutech has sales of 216.9 million, an ebitda of 18.5 million, and net financial debt of 38.3 million.
Halldis, the short term accommodation rental company that Pietro Martani founded, raised 3.5 million euros through a capital increase that London family office Gestio Capital and Real estate Npl investor Frontis Npl subscribed (see here aprevious post by BeBeez). Martani will invest the proceeds in the organic development of Halldis and of Copernico, a provider of coworking spaces that he also founded. Haldis business plan aims to generate revenues of 40 millions in the next two years from the current 30 millions. The company aims to acquire real estate assets Milan, Trieste, Genoa, and Rome. In 2012, United Ventures invested in Halldis.
Hig Capital is said to be holding negotiations for acquiring the Italian ICT company Maticmind (see here a previous post by BeBeez). Maticmind has sales of 240 million euros and an ebitda of 22 million.
Roberta Silva is the new ceo of Flos, a lighting producer which is part of Design Holding, a luxury design group owned by Investindustrial and Carlyle (see here a previous post by BeBeez). Flos has sales of 226 million euros and an ebitda of 25.9%.
Fintyre, the tyres distributor that belongs to Bain Capital, posted sales of 1.1 billion euros (+ 46% yoy) (see here a previous post by BeBeez). The company’s ebitda grew by 83%.
