Varvel, a producer of components for the photovoltaic plants, sold a 54% to illimity Credit & Corporate Turnaround (iCCT) (see here a previous post by BeBeez). The Berselli Family will keep a minority of the business while Mauro Cominoli will act as ceo. Varvel has sales of 50 million euros, an ebitda of 4.3 million and net financial debts of 12.6 million.
Sapa acquired the majority of Grupo Hispamoldes (a Spanish firm of which Quarza Inversiones has a stake) and created Grupo Indea (see here a previous post by BeBeez). Quarza hired Herbert Smith Freehills as legal advisor, while Sapa retained Socios Financieros Corporate Finance (m&a), Garrigues (legal advisor) and EY (financial due diligence). Hispamoldes is a producer of industrial components that has sales of 38 million euros.
Massimo Zanetti Beverage Group sold La San Marco, a coffee machines producer, to Paris-listed Seb (see here a previous post by BeBeez). Before such a sale, the target belonged to Massimo Zanetti Beverage Group (85.31%), Anna Rosa Caeran (5.77%), La San Marco (5.08%), Suzanne Penot (1.28%), Veronique Armellin (1.28%), Axel Adrien Tam Armellin (0.64%), and Ariane Bucovineanu (0.64%). La San Marco has sales of 16.4 million euros, an ebitda of 1.6 million and net cash of 1.6 million.
The market capitalization of Milan-listed Pirelli amounts to 4.85 billion euros (see here a previous post by BeBeez). The company’s shares price increased as a consequence of rumours of a partial of total sale of China’s Sinochem Holdings 37% stake in the business at 6,5 euros per share. The shareholder already hired an unnamed advisor. The deal could attract the interest of KKR. Pirelli also belongs to Marco Tronchetti Provera (14%).
Dettaglio Moderno Organizzato spa (DMO), a developer of corner and retail shop, retained Chiomenti for acquiring the majority of Igor which received assistance from Nicola Cirillo (see here a previous post by BeBeez). Pietro Bernardelli (55%) and Cinzia Asioli (45%) sold part of their stakes in Igor which has sales of 8.3 million euros, an ebitda of 0.29 million and net cash of 1 million. DMO belongs to the Celeghin family and has sales of 355 million, an ebitda of 23.6 million and net debt of 42.4 million.
Italian search fund Legacy Partners, a firm that Riccardo Triolo created in 2020, acquired Villa Guelfa, a premium packaging company (see here a previous post by BeBeez). The vehicle raised 0.4 million euros from 21 investors including Istria Capital and Kinderhook Partners.
Taste of Italy 2, a vehicle that Dea Capital Alternative Funds manages acquired 50% of Demetra, a producer of machinery for agricolture born in 2018 out of the merger of Agrimaster and Breviagri (see here a previous post by BeBeez). Prior to this deal, the company belonged Alcedo (95%) and to chairman and ceo Luciano Paiola (5%). Alcedo acquired Demetra in 2017 from B4 Investimenti (80%) and the Martoni Family (20%) for 13.3 million. Taste of Italy and Alcedo retained as advisors BonelliErede, Bird&Bird, KPMG, and ERM. Demetra hired PwC as debt advisor. Orrick and NCTM assisted the lenders. The company has sales of 31.5 million euros, an ebitda of 3.2 million and a net debt of 5.4 million.
Brave Wine Holding, the investment company that Renzo Rosso (the ceo and founder of Italian fashion firm Diesel), invested in Italian wine maker Josetta Saffirio which belongs to Sara Vezza (see here a previous post by BeBeez). Brave Wine Holding previously acquired 40% of Sicily’s Benanti for 7.5 million euros for an equity value of 18.8 million.
Private equity giant KKR extended to 24 March, Friday, the deadline of its offer for NetCo, the landline infrastructure network of Milan-listed tmt TIM (see here a previous post by BeBeez). On 24 February, Friday, TIM’s board of directors wil assess the offer ahead of a merger of Netco with Open Fiber that could raise competition and golden power issues. KKR offer could be in the region of 18 billion euros and a further 2 billion if the EU gived the authorization for the merger TIM-Open Fiber. Investments may amount to 7 billion for developing the infrastructure for broadband.
Amber Infrastructure Group’s Three Seas Initiative Initiative Investment Fund (3SIIF) invested 150 million euros (and could add a further 100 million) for acquiring eight photovoltaic plants based in Italy, Spain and Germany that belonged to R.Power which also sold a minority to the fund (see here a previous post by BeBeez). Amber retained Watson Farley & Williams and Rymarz Zdort Maruta as advisor. R.Power hired Morgan Stanley, mBank, Clifford Chance, ARUP, EY, and Baringa.
Arcaplanet, a pet products retailer that belongs to Cinven (63.8%) and Fressnapf Beteiligungs (32.5%) through Agrifarma, acquired the chain of homecare items Max Casa from Sergio Natoli and Maria Gabriella Natoli (see here a previous post by BeBeez). Gitti and Partners advised the buyers, while Ruggero Zebito, Marcello Di Perna and Benedetto Panarello assisted the vendors. Max Casa has 50 shops in Italy, sales of 14.6 million euros, an ebitda of 0.183 million and a net financial debt of 4.6 million.
Vista Vision, a company of which Credem Private Equity has 30%, acquired ISPRE – Istituto di Medicina Oftalmica and Ultralaser Genova, (see here a previous post by BeBeez). Vista Vision retained as advisors Pedersoli and DCA Dottori Commercialisti Associati. ISPRE equally belonged to Marcello Cassottana, Maurizio Rolando and Franco Reggiardo. The company has sales of 2.5 million euros, an ebitda of 0.567 million and cash of 0.57 million. Ultralaser has a turnover of 26.3 million, an ebitda of 2.8 million and net cash of 3.1 million.
Octo Group, the owner of satellite protection systems producer Octo Telematics, ended its business relations with Russia upon the approval of the Italian Government (see here a previous post by BeBeez). Fabio Sbianchi acquired 48.55% of Octo Group from Renova, a Russian firm that belongs to Viktor Vekselberg, and replaced John Peace as chairman. Peace kept his director role and owns 23.5% of the company. Octo appointed Paul Cronheim, Massimo Michaud and Edmondo Pietranera as indipendent directors. Delfino e Associati Willkie Farr & Gallagher assisted the buyers. Octo Group has sales of 138.6 million euros, an ebitda of 29.9 million and net cash of 14.83 million. Octo Telematics has a turnover of 86.5 million, an ebitda of 15.3 million and a net financial debt in the region of one million.
Eurovita, the troubled Italian insurer, said that Cinven poured 100 million euros for the recapitalization of the firm (see here a previous post by BeBeez). Alessandro Santoliquido, the company’s extraordinary administrator, is assessing several solutions for supporting the business as IVASS, the Italian authority for the insurance sector, required. Santoliquido aims to involve FinecoBank, Banca Fideuram, Sparkasse, Cassa di Risparmio di Bolzano, Credito Emiliano, Banca Popolare di Puglia e Basilicata, Unipol, Generali, and Poste in the recapitalization of Eurovita.
