SECI, the holding company of the Maccaferri Family, attracted the interest of Europa Investimenti, part of Arrow Global, which aims to support the company’s receivership plans that Bologna Court discussed on 18 May, Tuesday (see here a previous post by BeBeez). Sources previously said to BeBeez that SECI attracted a 215 million euros offer from Apollo Global Management and the fund raised again its offer in the last few hours (see here a previous article by BeBeez). Such resources would pay all the company’s senior debts and 15% of unsecured liabilities. SECI has a gross debt of 750 million of which 500 million are financial liabilities that include a 90 million bond. On the other hand the plan by the Maccaferri family and Europa Investimenti offers to repay unsecured lenders up to 24% of their credits by 2025 while allowing the Maccaferri family to keep a stake in the company.
Gpack, an Italian producer of boxes and displays, signed a restructuring agreement for 60 million euros of its debt with its financial creditors, Illimity and Oxy Capital (see here a previous post by BeBeez). The company is in receivership since July 2020 and belongs to the Bramucci Family. Gpack has sales of 89 million with an ebitda of 1.5 million, net losses of 11 million, equity of minus 1.8 million, and net financial debts of 26.6 million
J-Invest, an investor in NPEs that Jacopo Di Stefano heads, started a legal battle with the Municipality of San Giuliano Milanese over Genia, a multiutility company that bankrupted in 2015 with debts of above 40 million euros (see here a previous post by BeBeez). Sources said to BeBeez, that J-Invest owns more than 13 million euros GBV in Genia’s debt and that the company owns real estate assets valued about 50 million euros so it’s not clear why the Municipality just offers 5.7 million euros to creditors.
Intrum Italy aims to launch a fund for investing in corporate and retail UTPs, Andrea Tresoldi, the head of UTP di Intrum Italy, said during the BeBeez Coffee in aroma web of 11 May, Monday (see here a previous post by BeBeez). See here the video of the panels of 11 May 2021.
Aquileia Capital Services (ACS), a credit management company that is part of the portfolio of Bain Capital Credit, appointed Danilo Augugliaro as ceo and coo (see here a previous post by BeBeez). Augugliaro previously worked for Unicredit and as chief transformation officer of Ing.
Zenith Service, a provider of securitization services that is part of Arrow Global, appointed Silvia Rovere, the chairwoman of Confindustria Assoimmobiliare, as independent director (see here a previous post by BeBeez). In 2021, Rovere founded Sensible Capital, a platform for investing in real estate and proptech with an ESG attitude. Rovere also worked as Head of Business Development of Gruppo Aedes and as ceo of Morgan Stanley. After such appointment 60% of Zenith’s directors are women.
In 1Q21, Milan-listed Banca Ifis generated a brokerage margin of 137.7 million euros (+30% yoy) and net profits of 20.1 million (See here a previous post by BeBeez). The bank’s NPL unit generated a turnover of 58.3 million (+35%) with a portfolio of credits with a face value of 19.7 billion. In 2020, Banca Ifis posted net profits of 68.8 million (above the expectations of 50-65 million), a CET1 of 11.29% (+0.33%), and a Gross Npe ratio of 6.4% (9.8%).
In 1Q21, Axactor Italy, the Italian subsidiary of Oslo-listed credit manager and NPE investor Axactor, generated sales of 7 million euros (+17% yoy) (See here a previous post by BeBeez). In 2020, Axactor Italy had revenues of 27.7 million (+10%). Axactor revenues amounted to 61 million (+10%) and an ebitda of 17.7 million (14.1 million). Axactor’s revenues in 2020 amounted to 328 million, with an ebitda of 36 million.
In 1Q21, Milan-listed illimity generated a turnover of 137 million euros out of loans and of investments in corporate NPLs (see here a previous post by BeBeez). Corrado Passera is the ceo of illimity which has assets of 4.3 billion (4.1 billiona at the and of 2020 and 3 billion in 1Q20). In 1Q21, illimity had net profits of 12.6 million (+180% yoy and +86% since the end of 2020).
Ardian received a sustainable term loan of 200 million euros for financing the acquisition of further shares of Jakala, an Italian martech (see here a previous post by BeBeez). Ardian acquired a minority of the company in 2015. Ardian received the facility from Unicredit and Intesa Sanpaolo. Jakala generates abroad 35% of its 300 million sales.
Credimi aims to raise 400 million euros for financing its funding plan Sabino Costanza, the co-founder of the company, and Tiziana Marongiu, the firm’s chief business development officer, said during the BeBeez Coffee in aroma web of 12 May, Tuesday, that Banca Finint sponsored (see here a previous post by BeBeez). Riccardo Carradori, the ceo of TeamSystem Financial Value Chain, said during the event that the company carried on securitizations for a total of 340 million euros (see here a previous post by BeBeez). Corradori is also a managing director of TeamSystem Capital@Work. See here the video of the panels of 12 May 2021
Borsa del Credito, the Italian fintech lender for SMEs that belongs to P101, Azimut and GC Holding, carried on a securitization of 220 million euros through the spv Kripton (see here a previous post by BeBeez). Banca Ifis and Intesa Sanpaolo subscribed the senior tranche, Azimut the junior tranche. Cardo AI assisted the investors with its AI based reports. The financing facilities have a tenure of 6 years with a preamortizing period of one year and amount to 50,000 – 2 million with a 90% warranty of Fondo Centrale di Garanzia. See here the BeBeez 2020 Report about Fintech Platforms available for the subscribers to BeBeez News Premium. Sign up here for BeBeez Newsletter about Private Debt and receive all the last 24 hours updates for the sector.
Vincenzo Cuccorese will head from Milan the Italian operations of French private debt and mezzanine fund Indigo Capital (see here a previous post by BeBeez) Cuccorese previously worked for Alantra, the m&a firm that in October 2020 acquired 49% of Indigo Capital. The fund has resources for 500 million euros and will target Italian SMEs with revenues of 20-300 million.
