Transition Capital Partners, Yana Investment Partners and an undisclosed Luxembourg-based family office acquired a controlling stake of Dental Feel Group, a network of dentistry surgeries, from even shareholders Nicolò Maria Castiglioni and Marco Cattrini (see here a previous post by BeBeez). Sources said to BeBeez that Transition Capital Partners and its coinvestors acquired 66.7% of the target while and ceo Alberto Fabbri kept his 33,3%. Dental Feel has sales of 10 million euros (+20% yoy).
On 23 February, Thursday, Femto Technologies (a vehicle that belongs to Alpha Private Equity, Peninsula Investments and Azimut Eltif Peninsula Tactical Opportunities AZ RAIF II) completed their public offer on Milan-listed Prima Industrie’s 97.2% (see here a previous post by BeBeez). The bidders launched their offer on 31 January, Tuesday. Intesa Sanpaolo – Divisione IMI Corporate & Investment Banking and Banca Akros advised the bidders. Femto will carry on a delisting. World Leader Limited, dP-Cube (a vehicle of Davide Peiretti and Gianfranco Carbonato, two executives of Prima) reinvested for a 6.3% of Femto Technologies. The bidders launched a 25 euros per share offer for a total of 102.96 million euros on the ground of an enterprise value of 343 million (20.5X adjusted ebit or 0.8 X revenues).
Xenon AIFM acquired a controlling stake of Testing, a provider of testing services and products for several sectors, (see here a previous post by BeBeez). The target’s ceo Francesco Vignali reinvested for a minority. Banco BPM financed the transaction and retained Deloitte Legal as advisor. LCA Studio Legale assisted Xenon. Studio Commercialisti Modena & Partners advised Testing which has sales of 3.5 million euros, an ebitda of 2.3 million and cash of 2.4 million.
Nomios Group, a cybersecurity company that belongs to private equity IK Partners, acquired the majority of Italian competitor Aditinet Consulting (see here a previous post by BeBeez). Advant Nctm and Vitale & Co assisted Aditinet, while Chiomenti advised Nomios Group. Paolo Marsella (ceo) and Alberto Mez (cfo) will keep a minority of the target and their executive roles. Aditinet Consulting has sales of 35.4 million euros, an ebitda of 3.1 million and a net debt of 1.8 million.
On 24 February, Friday, the board of directors of Milan-listed TIM declined the 18 billion euros plus bonus of KKR for its landline network NBO (NetCo) (see here a previous post by BeBeez). The company said that the fund should sweeten its bid for NetCo by 31 March, Friday.
Milan-listed paytech Nexi signed an agreement for acquiring 80% of the from Banco Sabadell’s merchant acquiring business on the ground of an enterprise value of 350 million euros, less than 400 million as press items reported (see here a previous post by BeBeez). Banco Sabadell signed a put option for the remaining 20% of the business on the ground of the same enterprise value. Nexi will finance the transaction with its cash.
Milan-listed asset manager Anima announced the acquisition of Castello, a real estate asset manager, for 60 million euros (see here a previous post by BeBeez). Oaktree Capital Management kept a 20% of the firm of which previously had 82%. ISA-Istituto atesino di sviluppo (15%) and the managers (2.95%) sold their stakes. Giampiero Schiavo kept his ceo role. Vitale & Co., Banca Akros, Shearman & Sterling, Studio Di Tanno Associati, Daverio & Florio, and KPMG assisted Anima. Oaktree retained Mediobanca and Freshfields as advisors. Castello aum are worth 2.9 billion euros.
Lottomatica Group (fka Gamma Midco), the Italian gambling company that belongs to Apollo Global Management, said it started the procedure for listing on Milan market (see here a previous post by BeBeez). Press rumours say that the ipo could be worth one billion euros on the ground of an enterprise value of 5 billion.
Targa Telematics, an IoT company of which Investindustrial has 50.1%, signed a bindinf agreement for acquiring the majority of Viasat Group from the Petrone Family (see here a previous post by BeBeez). Adriano Scardellato (chairman) and Nicola De Mattia (ceo) have 3.21% and 4.58% of Targa which has sales of 56 million euros.
Malaysia’s Aerodyne Group, a provider of drones solutions, acquired Italian competitor Aiviewgroup (see here a previous post by BeBeez). The target has sales of 1.9 million euros, an ebitda in the region of 0.302 million and net cash of 0.14 million.
EcoEridania, an Italian waste management company of which Icon Infrastructure Partners has 75%, acquired 60% of Semataf from Fincast (see here a previous post by BeBeez). The company financed the transaction with the proceeds of a 135 million euros bond and credit lines of 205 million. EcoEridania retained as advisors PwC, E&Y, Golder Associates, SCP, and Rossi-Finamore. Fincast hired Studio Legale Scala. Semataf has a turnover of 24 million, an ebitda of 3.2 million and net debt of 2.7 million.
Collingwood Lighting Group, an UK-based portfolio company of Ambenta, acquired Belgium’s competitor Indigo (see here a previous post by BeBeez).
Sources said to BeBeez that Progressio hired Equita sim and UBS for selling its 71.88% of the packaging company Gruppo Garda Plast (see here a previous post by BeBeez). Further owners of the company are Amos Tonoli (3.61%), Luca Tonoli (3.61%), Marco Bruseschi (10.16%), Pietro Bruseschi (10.16%), and ceo Massimo Cutolo (0.57%). Garda Plast has sales of 70 million euros. Progressio also set a 300 – 350 million euros target for its fundraising, managing partner Filippo Gaggini said to BeBeez (see here a previous post by BeBeez). The first closing could be of less than 120 million if an investment opportunity arises. In the last 15 months, the fund posted an annuall gross IRR of 28% with the sale of Interni (November 2021) to Lifestyle Design, Save The Duck (April 2022) to two private investors, and Assist Digital (December 2022) to Ardian France. The fund currently owns Gampack, Gelit, Damiano, Polenghi Group, and ATK Sports.
Poke House, the Italian fast food chain generated sales of 100 million euros in 2022 (41 million in 2021) and opened Lenox House in Miami Beach (see here a previous post by BeBeez). Eulero Capital, a permanent capital vehicle that Roberto d’Angelo, Filippo Bruno, Gianfranco Burei, and Gianluigi Costanzo created, has a stake in the business.
