IGI Private Equity raised 170 million euros for its mid-market fund (see here a previous post by BeBeez). The fund attracted resources from Italian and foreign institutional investors and previously posted an Irr of above 37%.
KKR Infrastructure tabled a bid of 1.8 billion euros for acquiring 38% of Tim’s network on the ground of a value of 7.7 billion (above the previously reported 7.5 billion) (see here a previous post by BeBeez). Tim’s directors will assess the offer on 4 August, Tuesday and if it will accept it, the company will start the spinoff process for FiberCop and will apply for the golden power authorization of the Italian Government.
IMA, a Milan-listed producer of machinery for the packaging sector that belongs to the Vacchi Family, signed an agreement with BC Partners for the launch of a public offer ahead of a delisting (See here a previous post by BeBeez). BC Partners will acquire 20% of Sofima which owns 51.6% of IMA and 67% of the voting rights for an undisclosed price. Sofima will launch an offer for the shares of Ima (48.4% of the company) together with the other shareholders and BC Partners at 68 euros per share. The target’s equity value amounts to 2.93 billion. JP Morgan, Bnp Paribas, Unicredit Corporate & Investment Banking, Mediobanca – Banca di Credito Finanziario, and Morgan Stanley will finance the acquisition.
The turnover of the 127 companies listed on Milan’s AIM amounts to 5.6 billion euros for a market capitalization of 5.8 billion, said a report of IR Top Consulting (see here a previous post by BeBeez). The total resources raised through ipos amount to 3.9 billion, while the secondary market raising is worth 920 million. Anna Lambiase, the ceo of IR Top Consulting, pointed out that 77% of the AIM-listed companies posted an increase in revenues, 85% of them has a positive ebitda and 73% recorded profits.
Gruppo Onda Energia, a trader of electric energy and gas, aims to raise 5 million euros in equity and 3 million through the issuance of convertible bonds, ahead of a listing on Paris’ Euronext or Milan’s Aim by mid September said the company’s ceo Luigi Martines (see here a previous post by BeBeez). The company will invest the proceeds in its organic development. The bonds will pay a coupon of 8% with a conversion rate that gives 40% discount on the IPO price. Onda has sales of 30 million euros with an ebitda of 1.8 million and a net financial debt of one million.
Redfish Longterm Capital (RFLC) acquired 12.5% of Convergenze, an Italian multiutility and provider of ICR and e-mobility services (see here a previous post by BeBeez). Convergenze now belongs to Rosario Pingaro and Grazia Pingaro (62.5%), RFLC (12.5%) and to Sage Gestioni (25%). The company has sales of 13.74 million euros with an ebitda of 1.3 million.
One Equity Partners launched a public offer for delisting Techedge from Milan market (see here a previous post by BeBeez). The fund aims to pay 5,40 euros per share for 81.2% of the company. Edoardo Narduzzi, the founder and 1.4% owner of Techedge, Masada (17.4%) and Techies Consulting (11.1%) reached an agreement with the bidder who has a market capitalization in the region of 139 million euros, sales of 206 million with an ebitda of 23.5 million
Seco, a company that belongs to FII (Fondo Italiano d’Investimento), acquired 70% of Ispirata (see here a previous post by BeBeez). Marco Oggioni, Davide Bettio and Dario Freddi (founder and ceo) sold their stakes in the target, but will keep their management role. Seco has sales of 66.5 million euros with an ebitda of 11.5 million.
The majority of the shareholders (53.94%) of Milan-listed TheSpac approved the business combination with Franchi Umberto Marmi (See here a previous post by BeBeez). If the remaining 46% of The Spac’s shareholder will recede, the firms will call off their business combination. Marco Galateri di Genola e Suniglia, Vitaliano Borromeo Arese, Giovanni Lega, Luciano Di Fazio, and Gianluca Cedro launched TheSpac in May 2018 and invested 10 million euros while in July 2018, they raised 60 million.
Star Capital acquired Gamma (see here a previous post by BeBeez). The target has sales of 8.85 million euros with an ebitda of 3.17 million. Marco Gazzaniga, Marco Baratti, Carlo Arteria, Carlo Cangialosi, and Alessandro Colombo acquired Star Capital from Efibanca and Palladio Finanziaria in 2010. Earlier in May Star raised 140 million, above the 120 million target. Star Capital is one of the private capital investors that BeBeez Private Data monitors. Find out here how to subscribe to the Combo version that includes BeBeez News Premium.
Sonnedix, a solar energy company that belongs to JP Morgan Asset Management, acquired a portfolio of photovoltaic plants based in Apulia with a power of 3 MW (see here a previous post by BeBeez). Melfin, a distributor of industrial components, sold the assets.
Milan Court accepted the receivership application and the workers buyout (WBO) of Spotlight (see here a previous post by BeBeez). Spotlight has sales of 4.4 million euros with debts in the region of 5 million. The workers will invest part of their severance in buying the company.
Fabrizio Vettosi and Ciro Russo launched Vsl Club, a club deal vehicle for investing in the shipping sector (see here a previous post by BeBeez). The firm attracted the resources of Icr Industrie Cosmetiche Riunite (0.5 million euros), Gdb Investimenti (0.5 million), Vittorio Bogazzi & Figli (0.25 million), Fiart. Cantieri Italiani (0.1 million), Saar Depositi Portuali (50k euros), and Marinter Shipping Agency (50k euros).
UK’s Neo Investment Partners is studying the sale of 60% Italian leather goods producer Valextra (see here a previous post by BeBeez). The asset may attract the interest of Kering, the owner of Gucci and Bottega Veneta. In 2103, Emanuele Carminati Molina sold 60% of Valextra to Neo Capital for 25 milioni di euro. Valextra has sales of 25.8 million with an ebitda of 0.812 million.
Wrm Group, a Luxembourg vehicle of Raffaele Mincione, will act as white knight for Italy’s high-end food company Kipre (see here a previous post by BeBeez). Wrm invested 40 million in the deal and filed a debt restructuring proposal. Walter Bellantonio will be the company’s ceo.
F2i aims to acquire 79.8% of Geasar, the manager of Olbia’s airport, from Air Italy for 240-250 million euros (see here a previous post by BeBeez). The target has sales of 330 million with losses in the region of 230 million. Geasar belongs also to the Chambers of commerce of Sassari (10%) and Nuoro (8%), the Sardinia Region (2%), and to Consorzio Costa Smeralda (0.2%).
Ubs Asset Management and Econergy Renewable Energy signed a partnership for building photovoltaic plants with a power of 1.1 GW (See here a previous post by BeBeez). Ubs Asset Management (UBS-AM) Real Estate & Private Markets (REPM) infrastructure business acquired a portfolio of renewable energy palnts based in Italy from FPCI Infragreen and Econergy Systems. Ubs Asset Management (UBS-AM) Real Estate & Private Markets (REPM) infrastructure business also signed a call option for photovoltaic plants with a power of 22 MW.
Nappi, a producer of ingredients for the manufacturing of sweets, hired Houlihan Lokey for assessing offers of financial firms (See here a previous post by BeBeez). The company may attract the interest of Riverside, Stirling Square and Bluegem Capital Partners. Nappi has sales of 38.5 million euros, an ebitda of 5.48 million and net cash of 2.5 million.
Aksìa Group acquired a majority stake of Valpizza, an Italian producer of frozen pizzas (see here a previous post by BeBeez). Valpizza’s founder Vanes Biagi will keep a 20% and hold the role of the company’s chaiman. The target has sales of 20 million euros with an above 4 million ebitda.
Taste of Italy, part of DeA Capital Alternative Funds, is holding exclusive talks for acquiring Roscio, an Italian producer of ready meals, from the eponymous family (see here a previous post by BeBeez). Roscio has sales of 28.8 million euros, an ebitda of 3.82 million and net cash of 4.18 million.
