Comdata, a provider of contact center services for financial services firms that belongs to Carlyle, is in advanced talks for a merger with Spanish competitor Konnecta (see here a previous post by BeBeez). Comdata’s creditors agreed on the deal. BNP Paribas and JPMorgan will finance the transaction. Citi is advising Comdata which is for sale since October 2021. Konecta belongs to Intermediate Capital Group (ICG). Comdata has an adjusted ebitda in the region of 63 million euros and a financial debt of 8X ebitda.
Bravo Invest, a financial investor that founders Mauro Vacchini and Fabio Galli head with the partner Giovanni Saccaggi, hit its first fundraisng closing at 90 million euros  ahead of a target of 100-120 million (see here a previous post by BeBeez). Source said to BeBeez that Bravo Invest generated a 35% IRR and 3.5x the invested capital. Bravo is mulling for a sale of portfolio assets Metalworks and Arbo. Bravo Capital’s anchor investor is Luxempart, a Luxembourg-listed company whose main shareholder is Foyer, an insurance company. In June 2021, Bravo acquired from Lorenzo Lorenzi a 60% of Lorenzi, an Italian textile company. Sources said to BeBeez that the fund aims is going to carry on bolt-on buys for Lorenzi.
Azimut Enterprises, a subsidiary of Milan-listed Azimut, acquired a stake in Electa Ventures, part of Electa Group, a financial services firm that Simone Strocchi created for advising private equity funds and investors in real economy like Kairos Renaissance Eltif (KAIS Renaissance) (See here a previous post by BeBeez). Azimut and Electa will carry on investments in the real economy through a multi-partnership business model.
On 21 February, Monday, Italian Spac Sustainable Ventures started the placement of its shares (See here a previous post by BeBeez). Carlo Calabria, Franco Bernabè and Manfredi Lefebvre launched SV for investing in the sectors of sustainable mobility and circular economy. The Spac aims to raise at least 150 million euros and attracted 50 million from Intesa Sanpaolo, UnipolSai and Camfin. Fabrizio Palenzona and Fabrizio Palermo joined the board of SV. In 2021, Calabria and Lefevre launched Nasdaq-listed British Spac Centricus Acquisition Corp for which they raised 345 million US Dollars. In May 2021, the vehicle carried on a business combination with the software house Arqit. See here the Insight View about the Spac in USA available for the subscribers to BeBeez News Premium and BeBeez Private Data, the Database that BeBeez developed with FSI. Book a demo videocall hereÂ
Sicura, a provider of services for labor safety, made five acquisitions and aims to close a further 6 within the next 18 month as it’s studying 12 dossiers, Jean Pierre Di Benedetto, the managing partner and Italy’s country manager Argos Wityu said to BeBeez (see here a previous post by BeBeez). Rekeep, an Italian facility management company, sold the majority Sicura to Argos Wityu in 2020 on the ground of an enterprise value 54.5 million euros and kept a 6%, while the management has 4.5%. The fund aims to grow the business through acquisitions of competitors. Lamberto Cuppini and Paolo Scaroni, are the ceo and chairman of Sicura who has sales of 65 million and an ebitda in the region of 11 million. Di Benedetto also said that Fabbri Vignola, a packaging portfolio company might be again for sale in 12-18 months.
Portugal’s Constructel Visabeira, a provider of services for the energy and tlc sectors that belongs to Visabeira and of which Goldman Sachs Asset Management owns a stake, acquired the majority of Italy’s Inpower Group – Consorzio Stabile from Inpower who will keep a minority of the business with other shareholders (see here a previous post by BeBeez). Inpower has sales of 20.4 million euros, an ebitda of 0.839 million and net financial cash of 0.154 million. In October 2021, Goldman Sachs Asset Management acquired a minority of Constructel for 200 million.
On 28 February, Monday, Rocket Sharing Company (RSC), a blockchain-based marketplace for corporate loyalty programmes, was prepared to list a 39.5% stake on Euronext Growth Milan market, however due to the war between Russia and Ucraina now the listing date will be postponed, ceo Luigi Maisto said said to BeBeez (see here a previous post by BeBeez). Daniele Viganò and Alberto Ferlin founded Rocket Sharing Company with Maisto. Marco Caradonna invested in the company. RSC raised 3.6 million euros after having placed 4.5 million new shares at 0.8 euros each through a capital increase. The company’s main shareholder Rocket Enterprises Ltd will dilute its 91.1% stake to 58.3% and eventually to 54% if the investors exercise the greenshoe option (44.2% publicly traded equity). The investors in the IPO will receive for free 1 warrant every 2 shares. On 30 May, Monday, investors will receive one additional warrant for every 4 shares.
Cotril, an Italian manufacturer of hair care products that belongs to MIR Capital, a private equity vehicle that Intesa SanPaolo and Gazprombank launched, acquired competitor Tecna Italia (see here a previous post by BeBeez). Claudio Forbicioni, Fabio Angelini and Luca Torreggiani will keep their management roles in the target which has sales of 5 million euros. Cotril has a turnover of 20 million and belongs to MIR Capital since 2019. Cosmetics is one of the sectors that BeBeez Private Data, the Database that BeBeez developed with FSI, monitors (find out how to subscribe for only 110 euros a month). Book a demo videocall here
Mediterranean Phoenix (MP), a private equity vehicle that belongs to Red Fish Kapital, a company that Paolo Pescetto and Andrea Rossotti founded, launched a club deal platform for investing in Sicily’s high-end wine producers (see here a previous post by BeBeez). The targets entreprise value may increase by 3X in up to 6 years.
Business Integration Partners (BIP), a consultancy firm that belongs to CVC Capital Partners, acquired the majority of Monticello Consulting Group, a New York-based competitor with sales of 30 million US Dollars (see here a previous post by BeBeez). Monticello Consulting Group is an advisor for financial services firms. BIP has revenues of 347 million euros, an adjusted ebitda of 51.7 million and a net financial debt of 82 million.
Gruppo Fedrigoni, an Italian producer of special paper that belongs to Bain Capital, acquired Spanish competitor Divipa (Distribuidora Vizcaina De Papeles), based in Bilbao area (see here a previous post by BeBeez). The Alvaro Family sold the business but kept management roles. Divipa has sales of 24 million euros. In 2017, Bain Capital acquired 90% of Fedrigoni for 650 million.
The Percassi family sold a 47.3% of Italian Football Club Atalanta to a club deal that Stephen Pagliuca, the owner of iconic NBA team Boston Celtics and co-chairman of Bain Capital, leads (see here a previous post by BeBeez). The family kept a 38.7% of the team whose enterprise value is of above 400 million euros. The other shareholders of Atalanta are Radici Partecipazioni (5.33%), Magica (5.33%) and other minority investors (3.34%). Antonio Percassi and Luca Percassi will keep their role of chairman and ceo while Pagliuca will act as co-chairman del club. The club has a turnover of 242 million, net profits of 51.7 million with an ebitda of 133.6 million and a net financial debt of 42.1 million
CSM Ingredients, an Italian food company that belongs to Investindustrial, acquired Italian competitor Hi-Food from Synergetic, a financial holding that belongs to Giampaolo Cagnin (see here a previous post by BeBeez). The vendors reinvested in CSM. Hi-Food has sales of 14.7 million euros with an ebitda of 2.3 million. CSM Ingredients has revenues of 500 million. Investindustrial is one of the investors that BeBeez Private Data, the Database that BeBeez developed with FSI, monitors (find out how to subscribe for only 110 euros a month). Book a demo videocall here
FVS, a vehicle that belongs to Veneto Sviluppo, acquired the majority of Liking, a candies producer, from the Corno Family (see here a previous post by BeBeez). Pierluca Corno and Lamberto Corno will keep their role of directors while GiancarloCorno will act as coo. Liking has sales of 10 million euro with a 20% ebitda margin FVS is one of the investors that BeBeez Private Data, the Database that BeBeez developed with FSI, monitors (find out how to subscribe for only 110 euros a month). Book a demo videocall here
GWM, the owner of 15.74% of Milan-listed real estate fund Opportunità Italia, signed with Carlo Enrico Mazzola and Borgo Lago a Consultation Agreement (see here a previous post by BeBeez). The agreement provides for a mutual obligation of disclosure between the parties in the event of a sale of units in the fund. In November 2021, GWM Group, an Italian real estate asset manager and credit investor, launched a delisting offer for 51% Opportunità Italia and invested in the region of 35.3 million euros for such a delisting.
RedFish LongTerm Capital (RFLTC), an investment holding for the midmarket, acquired  20.01% of Pistacchio, an Italian food company that Biagio Marullo founded (see here a previous post by BeBeez). Mediterranean Phoenix sold the asset on the ground of an enterprise value of 16 million euros. Paolo Pescetto is the ceo of Red-Fish Kapital (RFK) is the controlling shareholder of Mediterranean Phoenix. In 2018, Pistacchio sold a 50.44% to RFK and a 20.01% to Mediterranean Phoenix. Pistacchio has sales of above 20 million with an ebitda margin of 13%
Elite Mediolanum Lounge attracted 15 new firms for its programme (see here a previous post by BeBeez). The new companies that joined the Elite community (part of Borsa Italiana) are Carrera Jeans, Kiton, Cdlan, Conerobus, Decal, Forever Bambù, Cellino, Flash Battery, Romani, Irsap, Lunelli, MG Lavorazione Materie Plastiche, Markas, Reforme /Veralab, and Vinicola Mauri.
