US private equity giant KKR has won the right to negotiate on an exclusive basis the purchase of control of TIM‘s NetCo, the new company into which the Italian tlc group’s infrastructure network will be transferred and into which Sparkle’s submarine cables will also be merged (see here a previous article by BeBeez). This was announced yesterday evening by the Italian tlc group, after the board of directors meeting that as planned examined the final non-binding offers received last June 9 from KKR and from the consortium formed by CDP Equity and Macquarie Infrastructure Real Assets and whose analysis had begun last Tuesday, June 19 (see here a previous article by BeBeez).
Microtest, a producer of machines for testing semiconductors of which Xenon Private Equity has 60% since April 2022, launched a 28.9 million euros public offer on Amsterdam-listed RoodMicrotec (see here a previous post by BeBeez). The transaction may close in 4Q23. The shareholders that own 24.8% of RoodMicrotec accepted the offer. Microtest retained as advisors Rothschild & Co and Linklaters. Axeco Corporate Finance and Bird & Bird assisted RoodMicrotec which has sales of 16.5 million and an ebitda of 3.9 million.
On 19 June, Monday, Milan-listed NB Aurora said it is mulling for a sale of up to 49.9% of its portfolio to NB Aurora Co-Investment Fund II (see here a previous post by BeBeez). NB Aurora may fetch a gross capital gain of 15% – 25% and may pay a dividend on the ground of a 1Q23 NAV of 313 million euros (289 million of portfolio companies and cash of 24 million).
Arterex, a global supplier of medical devices that belongs to Investindustrial, signed an agreement for acquiring NextPhase Medical Devices, an US competitor (see here a previous post by BeBeez).
Ambition Agri Agro Investissement (IDIA Capital Investissement) and Crédit Agricole Régions Investissement (Carvest) announced an investment in French tea company Dammann Frères, part of Polo del Gusto (Gruppo Illy) without disclosing further details (see here a previous post by BeBeez). Ambition Agri Agro acquires minorities through investments of 5 – 45 million euros with holding periods of 5 – 10 years.
French private equity Archimed and Citieffe, a medical devices producer, did not disclose comments to BeBeez about market rumours saying that the fund hired Potamac for assessing the sale of the company (see here a previous post by BeBeez). Swiss Medistream, a portfolio company of Archimed since 2014, acquired Citieffe in 2015. The target has sales of 10.9 million euros, an ebitda of 2 million and a net debt of 8.9 million.
Quid Informatica, an Italian IT company that belongs to Equinox, acquired 60% of Cabel Industry through the purchase of shares and the subscription to a capital increase (see here a previous post by BeBeez). Prior to this sale, the asset belonged to Cabel Holding (79.43%), a vehicle whose shareholders are Banca di Cambiano 1884 (29.6%), Castagneto Banca 1910, Cassa Centrale Banca, Banca Popolare del Frusinate, Zenit, Sesa, Var Group, and other minority owners. Further owners of Cabel are Banca Cambiano 1884 (11.49%), Banca di Pisa e Fornacette (2.87%) and other banks. Cabel Industry has sales of 36.6 million euros and an ebitda of 10.5 million.
Italian Private Opportunities, part of Swiss Copernicus Wealth Management, acquired Caffè La Messicana Piacenza from Assietta Private Equity that acquired 77.3% of the business in 2015 from the Tagliaferri Family and later raised its stake to 92.32% (see here a previous post by BeBeez). Assietta retained as advisor Grant Thornton Financial Advisory Services while Copernicus appointed LCA Studio Legale. Assietta invested 2.9 million euros on the ground of an enterprise value of 3 million (6.8 X EBITDA). Caffè La Messicana Piacenza has sales of 2 million, and equity of 1.9 million.
PM&Partners signed a binding agreement for acquiring a controlling stake of Italtergi, an Italian producer of industrial components (see here a previous post by BeBeez). Sources said to BeBeez that the fund acquired 70% of the business for 50 – 100 million euros from the Cristiano Dadda (chairman 33.34%), Adriana Dadda (33.33%) and Manolo Dadda (33.33%) who will keep their management roles. BNL BNP Paribas, Banca Sella and Bper Banca financed the transaction and retained Gianni & Origoni as advisors. PM & Partners received assistance from Ughi e Nunziante, OC&C, PwC, EY, and Anthesis. Unistudio Corporate Finance, Pedersoli, and Studio Longari assisted the vendors. Italtergi has sales of 28 million euros (75% abroad), an ebitda of 4.7 million ebitda and net cash of 1.77 million.
Digit’Ed, a a digital learning portfolio company of Nextalia since 2022, acquired Italian traning and education provider Scuola Greco Pittella (see here a previous post by BeBeez). Vincenzo Davide Greco and Domenico Pittella founded Scuola Greco Pittella in 2015. Digit’Ed will pursue further acquisitions.
Quadrivio Group hired Philippe Franchet, Giovanni Ronca, Rebekka Schaefer, and Martino Rocca (see here a previous post by BeBeez). Milan-based Quadrivio has bureaus in London, Luxembourg, New York, Los Angeles, and Hong Kong. Franchet previously worked for L Catterton, Eurazeo and McKinsey&Co. The director will act as managing partner of Made in Italy Fund II and will head the firm’s Paris bureau. Quadrivio and Pambianco aim to raise 500 million euros for Made in Italy II. Ronca, formerly cfo of TIM and co-head of Italy corporate banking for UniCredit, will work in Milan. Schaefer will join London bureau as investor relations manager. She previously worked for EQT and Helix Associates. Rocca, investment manager, previously worked for CDP and as head of alternative assets for Bocconi University Endowment Fund. Alessandro Binello and Walter Ricciotti are the co-ceos of Quadrivio Group.
