Sources said to BeBeez that binding offers for Italian fashion firm Roberto Cavalli are due by 14 June (see here a previous post by BeBeez). Cavalli is in receivership. Bidders are Bluestar Alliance, OTB of Italian entrepreneur Renzo Rosso; Dubai’s real estate investor Damac,Apeiron Management, the exclusive advisor to Apollo Global Management for investments in Italian distressed assets; US private equity Manna Capital Advisors. The sources said that frontrunners are OTB and Bluestar Alliance, for which Milan Court asked reputational due diligence of Kroll. Cavalli has debts of 105 million euros, of which 47 million with banks. Cavalli belongs to Clessidra since 2015.
Swiss asset manager SUSI Partners signed an agreement for refinancing Italy’s Energa energy performance contracts for up to 10 million euros (see here a previous post by BeBeez). Energa has more than 40 operative projects with an average residual duration of six years and an investment value of 3 million. SUSI Partners has assets under management for one billion.
Bikkembergs now wholly belongs to Chinese private equity firm Canudilo Modern Avenue that already had 51% of the asset and acquired 49% from Zeis Excelsa and Sinv (see here a previous post by BeBeez). Dario Predonzan, coo of Levitas, the owner of Bikkembergs, said that Sinv will keep its licence for the clothes production. Levitas has a turnover of 6.6 million euros, an ebitda of minus 0.88 million, losses of 4.4 million, and a net financial debt of 2 million.
Three international banks tabled a binding bid for acquiring 49% of Cotril, a producer of hair care products that belongs to Marco Artesani that would hold 51%, sources said to BeBeez (see here a previous post by BeBeez). Bids are in the region of 35-36 million euros, or about 9x ebitda for year 2018 when Cotril had sales of above 20 millions. Cosmetics is one of the sectors that BeBeez Private Data monitors. Find out here how to subscribe to the Combo Version that includes the reports and the insight views of BeBeez News Premium 12 months for 110 euros per month.
Italian Design Brands (IDB) acquired the majority of Modar, a producer of luxury furniture (see here a previous post by BeBeez). Giovanni De Ponti acquire a minority of Modar, whose ceo Dante Malagola will keep his role and his stake in the company. Unicredit financed the transaction. Modar has sales of 30 million euros, an ebitda of 3.2 million, and net cash of 2.86 million. Giorgio Gobbi is the ceo of IDB, the investor in high end furniture and design firm that Private Equity Partners launched together with Paolo Colonna, Giovanni and Michele Gervasoni, and further investors. IDB has sales of 100 million and generates abroad 70% of its turnover.
Ardian Infrastructure and Glennmont Partners acquired from Athena Investments wind farms and photovoltaic plants worth 90.9 million euros with a total power of 205.5 MW (165.7MW in Italy and 39.8MW in Spain) (see here a previous post by BeBeez). Glenmont will invest 41 millions, Ardian 49.9 millions. Athena Investments, fka Greentech, is listed on Copenaghen stock market and on Nasdaq and belongs to theRovati Family, and Sdp Capital Management of Sigieri Diaz Pallavicini
Wisequity IV fund acquired 69% of system integrator Innovery from the founder Gianvittorio Abate who will keep a stake in the business as well as his role of chairman and ceo (see here a previous post by BeBeez). The private equity investor will support the company’s organic growth and m&a strategy. Innovery has sales in the region of 27 million. Wisequity IV is one of the investors that BeBeez Private Data monitors. Find out here how to subscribe to the Combo Version that includes the reports and the insight views of BeBeez News Premium 12 months for 110 euros per month.
Jakala, the Italian martech company, acquired Volponi, a provider of loyalty service for retail chains (see here a previous post by BeBeez). Lucio Volponi founded the business which has sales of 30 million euros. After such an acquisition, Jakala will have revenues of 250 million.Matteo de Brabant is the founder of Jakala.
Italian pet shop chain Arcaplanet, a portfolio company of Permira whose ceo and founder is Michele Foppiani acquired 15 shops from Zoodom Italia (See here a previous post by BeBeez). Winch Italia fund (Andera Parnters) holds a minority of Arcaplanet. Zoodom has sales of 8.46 million euros, an ebitda of minus 0.829 million and net cash of 0.419 million. Arcaplanet has sales of 189 million, an ebitda of 7.98 million, and net debt of 92 million. Foppiani said that Arcaplanet is interested in further acquisitions.
York Capital signed a letter of intent for acquiring iconic Italian football team Genoa Calcio (see here a previous post by BeBeez). Genoa belongs to Enrico Preziosi since 2003. Alessandro Zarbano is Genoa’s ceo. The team has sales of 87.9 million euros, an ebitda of 21.8 million, net losses of 11.7 million, net financial debt of 11.3 million, and equity of minus 10.3 million.
Nichebox, the holding of Dino Pace in which Swiss private equity Lachs Investments has a stake, acquired English perfumes producer Clive Christian (See here a previous post by BeBeez). Pace said that he will keep looking at niche luxury brands.
Palamon sold Italian apparels producer Il Bisonte to Japanese fashion firms Look Holdings for 100 million euros, a 3x gain for the vendor (see here a previous post by BeBeez). After such exit, Palamon made a 26% Irr. Wanny Di Filippo is the founder and honorary chairman of Il Bisonte, who has sales of 35 million (+30% yoy), an ebitda of 2.15 million and net cash of 2.67 million. Sofia Ciucchi, the company’s ceo, said that Look will help Il Bisonte for its international expansion.
The ports of Monfalcone, Ravenna, Livorno, Savona, and Naples are of interest to Italian infrastructure investor F2i (see here a previous post by BeBeez). F2i may acquire the ports of Monfalcone and Livorno through the acquisition of Marter Neri, an Italian provider of logistic services for ports.
Stefano Comini, Giuseppe Condorelli, Luigi De Mitri, Roberto Giudici, and Franco Marcolin founded private equity Entangled Capital, an investor in Italian mid-market investor (See here a previous post by BeBeez). Entangled is waiting for the authorization of the Bank of Italy and initially it will have a capital of 0.4 million euros of which Marcolin will have 32%, Giudici 28%, 19 investimenti 20%, De Mitri 17%, and Condorelli 3%.
Milan-listed private equity NB Aurora paid 30.2 million euros for 49.9% of Dierre Group an Italian industrial automation company (See here aprevious post by BeBeez). Gradiente sold its 46.1% in the asset that acquired in February 2016. Dierre’s chairman and founder Giuseppe Rubbiani dismissed a 3.8% and will keep 50.1% of the company. Lorenzo Carù, a partner of Neuberger Berman, the owner of NB Aurora, said that Dierre aims to carry on acquisitions.
