Gruppo Ferrero acquired Fresystem, an Italian producer of frozen food that retained Vitale as financial advisor (see here a previous post by BeBeez). Fresystem has sales of 59.2 million euros, an ebitda of 9.8 million and a net debt of 6.7 million.
Edra, an Italian publisher of professional books, acquired the majority of Xplainers, an e-learning platform that retained PwC as lead financial advisor (see here a previous post by BeBeez). Xplainers owns the brands Pro-Med and WeTest. Edra has sales of 57.5 million euros with an ebitda of 9 million and a net debt of 4.7 million.
IPO Club, a vehicle of Electa Ventures (a firm that Simone Strocchi launched), set a fundraising target of 100 million euros with tickets of at least 0.125 million (see here a previous post by BeBeez). The investors that will pour more resources will be able to co-invest with the fund that will act as anchor investor with a 20% of the total amount. Milan-listed Azimut will invest in the vehicle and distribute the product to its clients.
Helios Energy Investments, an Israelian private equity with a focus on the energy sector, acquired 70% of Euren Biogas Società Agricola from Germany’s PAF Projects For Advanced Fuels (see here a previous post by BeBeez). PAF belongs to Macquarie GIG Energy Transition Solutions. Helios acquired the asset through HLS-Biogas, a vehicle of which Czech Renewable Asset Management has 30%. Dentos assisted the buyers. PAF retained Legance.
PIB Group, an English insurance broker that belongs to Apax Fund and The Carlyle Group, announced the acquisition of Italian competitor ABI – Area Brokers Industria from 70% owners Lorenzo Riccardi (ceo) and Marco Riccardi (cto) who will keep their role (see here a previous post by BeBeez). Elisabetta Cristoforetti (25%) and Edoardo Tancredi Denna (5%) sold their stakes. ABI retained as advisors Carnelutti Law Firm, EY and AlphaOmega. PIB Group hired Norton Rose.
Entangled Capital acquired 70% of FBL Food Machinery with the financial support of Cassa Centrale Banca – Credito Cooperativo Italiano (see here a previous post by BeBeez). Luca Ponzi and Roberto Visconti will keep a 30% of the asset which has sales of 10 million euros (60% export) and an above 20% ebitda margin.
Investindustrial signed an agreement for acquiring Procon Pumps, an US-based producer of industrial components, for an enterprise value of 75 million US Dollars (see here a previous post by BeBeez). Procon belongs to NYSE-listed Standex International Corporation. Investindustrial will acquire Procon through the vehicle that controls CEME, an Italian producer of industrial pumps.
Pinarello, an Italian bycicles producer that belongs to L Catterton and hired Houlihan Lokey for a sale, attracted the interest of trade buyers and family offices (see here a previous post by BeBeez). Antonio Dus is the ceo of Pinarello. The company has sales of 90 million euros with a 30% ebitda margin, a net financial debt of 29.4 million and equity of 50.4 million
Milan-listed energy giant Enel has not yet made a decision for the sale of its assets in Romania to Greek competitor Public Power Corporation (PPC) with which is holding exclusive talks since December 2022 (see here a previous post by BeBeez). PPC retained Goldman Sachs as advisor for the acquisition of the 1.9 billion euros worth assets. Sources said to BeBeez that Enel’s Romanian assets have not attracted further bids. Previous press reports said that the dossier was of interest to Brookfield Asset Management and Amber Infrastructure.
Efeso Italia, part of Efeso Consulting, promoted Andrea Mantegazza as managing director (see here a previous post by BeBeez). Mantegazza previously worked for Tenaris. Efeso Consulting belongs to Eurazeo PME since 2019.
Italian labour and tax consultancy firm ArlatiGhislandi signed a strategic partnership with Special Situations, a turnaround advisor (see here a previous post by BeBeez).
Italian special paper producer Gruppo Fedrigoni, a portfolio company of Bain Capital and BC Partners, acquired the French R&D unit of Arjowiggins and signed of an industrial partnership with the Chinese subsidiary Quzhou (see here a previous post by BeBeez). Fedrigoni supported two former managers of Arjowiggins with a loan and signed an option for acquiring the business in the future.
On 6 February, Monday, IVASS, the Italian watchdog for the Insurance sector, decided to suspend the insurance and capitalization contracts of Eurovita, a portfolio company of Cinven (see here a previous post by BeBeez). The authority previously asked Eurovita to carry on a recapitalization. The company reportedly unsuccessfully tried to sell to JC Flowers
EuroGroup, an Italian producer of industrial components that belongs to the Iori, Garibaldi, Bacchin, and Zannetti Families and Tikehau Capital, will launch its IPO on Milan market on 10 February, Friday, with an initial market capitalization of 922 million euros (see here a previous post by BeBeez). The company said that the IPO price will be of 5,5 euros per share.
Siberian Health, a Czech producer of food integrators, acquired Aqua Viva, a San Marino-based competitor (see here a previous post by BeBeez). SHC Advisor and Studio Taddei advised Aqua Viva. Siberian Health retained EY and Studio Della Balda.
Italian industrial company Bonfiglioli acquired its competitor Selcom Group from Avenue Capital Group and Europa Investimenti (see here a previous post by BeBeez). In 2017, the funds acquired Selcom and implemented a turnaround. The target has salea of 150 million euros (40% abroad).
Tighe Noonan acquired Rosehope Limited (a chemical company that owns of Settala Gas, Synthesis Chimica, Tecnogas, and the majority of Systema) from French private equity 4D Global Energy Advisors (see here a previous post by BeBeez). Noonan carried on a management buyout with the financial support of Banco BPM. Norton Rose Fulbright assisted 4D Global Energy Investment, while CBA and Byrne Wallace advised BPM. The buyer retained Arthur Cox LLP.
After the first day of trading on Milan market, the capitalization of 21.1% publicly traded equity of Gentili Mosconi, an Italian textile company, amounted to 71 million euros (see here a previous post by BeBeez). The share price is sustantially the same as the 3,75 euros per share of the IPO’s. Gentili Mosconi raised 23 million euros from cornerstone investors Palladio Holding and Mahrberg (5 million in total) and other firms. After the IPO, the company’s shareholders are Francesco Gentili (chairman and ceo – 37.4%), Patrizia Mosconi (coo – 34.5%), Palladio (3.5%), and Mahrberg (3.5%). Equita Sim acted as Sole Global Coordinator, Joint Bookrunner, Euronext Growth Advisor, and Specialista sole global coordinator. The company also hired TP ICAP, Emintad Italy, Grimaldi Studio Legale, and Deloitte.
HIG Europe hired Rothschild for selling Project Informatica, an Italian system integrator that the fund acquired in 2020 (see here a previous post by BeBeez). Project Informatica attracted the interest of Searchlight, Intermediate Capital Group (ICG) and Chequers Capital. Raffaele Legnani is Italy’s country head for HIG Europe. Project Informatica has sales of 188.8 million euros, an ebitda of 15.4 million and a net financial debt of 31 million.
