Pemberton Asset Management will finance Clessidra for the acquisition of Impresoft, a tech company born in 2019 out of the merger of 4ward, Brainware, Gruppo Formula, Impresoft, and Qualitas Informatica (see here a previous post by BeBeez). Sources said to BeBeez that the fund is about to sign the financing agreement and close the deal. Xenon Private Equity is selling Impresoft but will reinvest for a minority while Italmobiliare will coinvest. Pemberton Asset Management also won the Private Debt Investor’s award for the Deal of the Year (Europe) for structuring and investing in the 265 million euro bond issued by ReLife in 2021. Pemberton is 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).
Carlyle is leading a pool of lenders that supported the club deal of Stephen Pagliuca that acquired 47.3% of Atalanta, the Italian football team (see here a previous post by BeBeez). Atalanta will pay the coupons in cash or through PIKs (payment-in-kind). The team’s enterprise value amounts to 400 million euros, revenues stand at 242 million, an ebitda of 133.6 million, net profits of 51.7 million, and debts of 42.1 million.
In 2021, the potential size of the Italian supply chain finance (SCF) sector is of 457 – 495 billion euros, said the Supply Chain Finance Observatory of the Milan Polytechnic University School of Management (see here a previous post by BeBeez). Federico Caniato, the director of the Observatory, said that the Covid19 turmoil made the SCF popular for the Italian SMEs.
In 2021, the Banca Finint Group strengthened its leadership in the Italian securitization market, as evidenced by the 64 transactions in 12 months relating to a wide range of assets, flanked by over 10 LeaseCo and ReoCo, by the operations on NPLs with a state guarantee (GACS ), of which 4 closed at the end of 2021, and among which the 3.1 billion euro one on Npls of Intesa Sanpaolo and BPER. This was announced by bank itself, on the occasion of the presentation of the FY 2021 accounts (see here a previous post by BeBeez). Banca Finit also closed more than 10 direct lending deals in 2021. Subsidiary Finint Investments sgr has 3.4 billion of assets under management (+26% yoy – above 50% of assets under Esg management). The bank is reportedly going to list and already beaten the targets for the 2021-2023 business plan. Banca Finint has gross profits of 20.8 million (+11%), net profits of 15.1 million, revenues from fees of 54.7 million (+9%) which make 86% of the firm’s brokerage margin, and a financial margin of 61.5 million. The group is going to list on the Italian Stock Exchange in the next few months.
Stack Emea, a company active in the design, construction and management of data centre ecosystems that belongs to Stack Infrastructure, a portfolio asset of IPI Partners, received from Natixis Corporate & Investment Banking a financing facility for developing a data center in Milan area (see here a previous post by BeBeez). Natixis CIB provided the company with an upfront facility, a capex facility and a VAT facility. The new data center will rely only on renewable energy.
Luperini Production, an Italian industrial assembly firm, issued a convertible bond of one million euros that SICI subscribed (see here a previous post by BeBeez). Fondo di garanzia per le PMI – MCC will provide the warranty for the bond that will be converted in different tranches upon the achievement of industrial covenants. Luperini Production belongs to chairman and ceo Massimo Lungone (33%), Francesco Luperini (33%), Seva (30%), an Italian renewable energy company, and Alci (4%). The company has sales of 3.2 million, an ebitda of 0.2 million and net cash of 0.137 million.
Direzione Lavoro Group (DLG), an Italian provider of HR management services, placed on Fundera a minibond of up to 0.5 million euros due to mature on 1 September 2023 and with a 4% annual gross yield (See here a previous post by BeBeez). Fondo di Garanzia per le Pmi – MCC provided a warranty for 80% of the issuance. DLG has a call option for an eventual earlier repayment with a reward for investors. Massimiliano Aloi is the ceo of DLG which is born in 2016. The company belongs to DL Holding (36.14% – a vehicle of which Aloi has 60% and the cfo Emanuele Rossi 40%), Andrea Baldini (17.47%), Aloi (14.46%), Rossi (9.16%), and other minority shareholders. DLG has sales of 17.6 million, an adjusted ebitda of 0.335 million and net debts of 1.2 million.
Nuova Solmine, an Italian chemical company, issued a five-years ESG-linked minibond of 3 million euros that UniCredit subscribed (see here a previous post by BeBeez). The company will invest the raised proceeds in the achievement of ESG target, the rationalization of its logistic assets and its consolidation in the EU market. Ottorino Lolini is the ceo of Nuova Solmine who belongs to Sol.Mar, a company of the Mansi Family. Nuova Solmine has sales of 68 million, an ebitda of 6.7 million and a net debt of 40 million.
MV Extrusion, an aluminium processing and shutter systems subsidiary of MV Line, issued a five-years minibond of 6 million euros that Unicredit subscribed (See here a previous post by BeBeez). The company will invest the raised proceeds in its organic development. Paolo Montanaro and Antonio Anastasia are the chairman and ceo of MV Extrusion (fka B.B.C.) that MV Line acquired in 2017. The company has sales of 24.4 million, an ebitda in the region of 1 million and a net debt of 8.6 million. MV Line has sales of 100 million.
Impresa Bacchi, an Italian contractor, issued a 1.3 million euros minibond and placed it on the crowdfunding portal Fundera (see here a previous post by BeBeez). The transaction is part of a pluribond programme of Banca di Asti. Sace provided a warranty for 90% of the bond that is due to mature on 30 September 2027 and pays a gross annual yield of 4.5%. Bacchi has a call option for reimbursing earlier the investors and pay them with a reward. The company will invest the proceeds in R&D and its organic development. Bacchi has sales of 21.1 million, an ebitda of 1.3 million and a net debt of 14.3 million.
In 2021, AMCO managed NPEs for 33 billion euros (13 billion of UTPs) (see here a previous post by BeBeez). Marina Natale is the company’s ceo. In 2021, revenues amounted to 1.35 billion (+57% yoy). Amco has net profits of 70 million, a CET1 of 35.1%.
Pro-Gest, an Italian producer of paper, suspended the activity of six plants as war between Russia and Ukraine made unbearable the energy costs (See here a previous post by BeBeez). Pro-Gest belongs to the Zago Family and has sales of 700 million euros. In 2020, the company issued a 200 million bond that Carlyle’s Global Credit subscribed. Carlyle also subscribed a bond of 90 million and another of 35 million both due to mature in 2025. The company invested these proceeds in refinancing its liabilities. In 2021, Carlyle also subscribed a 75 million bond of Pro-Gest due to mature in December 2025. The company invested such proceeds in its organic growth.
Milan-listed real estate developer Milan Borgosesia and Consultinvest, an asset manager with AUM of 4 billion euros, launched BGS Management, an even joint venture for supplying real estate services in support of securitisations of which Consultinvest will place the notes (see here a previous post by BeBeez). Gruppo Borgosesia will manage BGS. Borgosesia and Consultinvest also signed even joint ventures Consultinvest RE SPV and Consultinvest Loans SPV for investing in distressed real estate and financial assets. BGS Management will also manage the funds of Borgosesia Gestioni, an investor in non-performing real estate assets and loans that evenly belongs to Borgosesia and Consultivest.
Monza Court accepted the debt restructuring proposal of Serist, a catering company that belongs to the Cusin Family (see here a previous post by BeBeez). Valter Zocchi is the firm’s ceo. Serist aims to carry on a restructuring for a debt of 40 million and pay its creditors. In January 2020, Ladisa, an Italian competitor, acquired selected assets of Serist for 6.85 million euros. These proceeds and the Cusin Family’s resources made 17 million available for paying back the creditors .
