Ivan Glasenberg is close to acquiring Pinarello, an Italian producer of luxury bikes, from L Catterton (see here a previous post by BeBeez). The asset reportedly attracted the interest of Rivean and Accell, a portfolio company of KKR on the ground of an enterprise value of 250 million euros. L Catterton acquired 80% of the asset in 2016 for an enterprise value of 90 million. Press items say that Glasenberg will pay 140 million for such a stake and pour a further 50 million in the business. The buyer may raise his stake to 90% through the acquisition of shares from Fausto Pinarello (20% owner). Greg James could replace current ceo Antonio Dus that may sell his 1.05% for 1.8 million.
Investcorp said it signed an agreement for acquiring the majority of Milan-listed PR Agency SEC Newgate for 100 million US Dollars from ceo Fiorenzo Tagliabue, RGL and Three Hills Capital Partners (THCP) on the ground of an enterprise value of above 250 million (see here a previous post by BeBeez). Investcorp will subscribe to a capital increase of SEC Newgate. Nicola Ferraris, a partner of the fund will join the board of SEC Newgate. Gattai, Minoli, Partners and Clearwater International assisted Investcorp. AdvantNCTM advised SEC Newgate. Tagliabue will keep his ceo role. Teh company aims to grow in the EMEA and APAC areas through m&a.
Stockholm-listed Indutrade acquired I-tronik an Italian distributor of machinery for the production of electronic cards and printed circuits (see here a previous post by BeBeez). Studio Corno assisted Indutrade while Avvecomm acted for the vendors Stefano Germani, Michele Mattei and Lorenzo Rizzoli that had even stakes of the company. I-tronik has sales of 15 million euros, an ebitda of 2.1 million and net cash of 2.5 million.
Gourmet Italian Food (GIF), a portfolio company of Alcedo since 2021, acquired Firma Italia, an Italian producer of ready meals, from the Birolo Family (see here a previous post by BeBeez). Silvano Birolo and Mario Birolo, the target’s founders will reinvest in the business. Banco BPM financed the transaction and retained Dentons as advisor. Alcedo retained EY Legal, Gianni & Origoni, PwC Italia, Adacta Advisory, and RDRA. The Birolo Family appointed Pirola Corporate Finance and Advant Nctm. The target has sales of 31.7 million euros, an ebitda of 2.4 million and a net debt of 2.8 million.
Industry 4.0 Fund, a vehicle of Quadrivio Group, acquired the majority of Twist, an Italian vendor of refurbished IT devices from the founders Francesco Santucci and Maurizio Santucci who will reinvest in the company with a 40% stake (see here a previous post by BeBeez). Twist retained as advisors Pecora Ambrosino and Studio Alioto De Stasio. Twist has sales of above 100 million euros with an ebitda margin of more than 5%.
Equinox said it acquired 60% of Modulblok a provider of shelving and storage solutions for the logistic sector from Mauro Savio who will keep 40% and the chairman role (see here a previous post by BeBeez). Marco Maion is the ceo of Modulblok. Equinox will appoint as board members Andrea Bovone, Fabio Valgimigli, Federico Sanna, and Alessandro Dinardo. Equinox retained as advisors Studio Pedersoli, PwC, Gatti Pavesi Bianchi Ludovici, Roland Berger, Deloitte, and Marsh. Savio retained Deutsche Bank. Modulblok hired Studio Galgano and Romanin Veritti D’Orlando. The company has sales of 45 million euros, an ebitda of 6.8 million and a net financial debt of 5.2 million. Modulblok aims to grow through acquisitions.
HOFI (Holding Funeraria Italiana), an Italian funeral house, announced the acquisition of COFIM, an Italian competitor, from the Gibellini Family that will reinvest for a minority (see here a previous post by BeBeez). HOFI retained as advisors LMS, EY and Sampietro. The Gibellini Family hired Rblex and Studio Veroni.
As BeBeez reported on 31 May, Wednesday, Italian stationery producer and distributor Legami sold a 42% stake to Flexiible Capital, a vehicle of DeA Capital Alternative Funds, while the ceo Alberto Fassi will keep 58% (see here a previous post by BeBeez). In 2016, Alto Partners and Cube 3 (fka Rancilio Cube) invested in the business. Legami has revenues of 77 million euros and an ebitda of 3.7 million (7% margin).
ACT Group – Aretè Cocchi Technology, an Italian producer of industrial components, and FAI – Futuro all’Impresa, an Italian financial company, announced the acquisition of the integrated authomation unit of German KUKA, a firm with revenues of 3.9 billion euros (see here a previous post by BeBeez). The buyers will rebrand the asset as REIS Robotics that will belong to ACT for a 70% and to FAI for 30%. The target has revenues of 40 million.
Eudaimon, an Italian provider of corporate welfare services, sold a controlling stake to Finnish fintech Epassi Group Oy, a portfolio company of Bregal Milestone and of First Fellow Partners (see here a previous post by BeBeez). Alberto Perfumo (54.63%), Cesare Concina (40.38%) and Andrea Torricella (5%) sold their stakes. Eudaimon retained as advisors Clearwater International and ADVANT Nctm. The target has revenues of 8.8 million euros, an ebitda of 1.8 million and net cash of 6.6 million.
Italiana Assicurazioni, a subsidiary of Reale Group, announced the acquisition of 78% of Plurima Servizi Assicurativi, an Italian insurtech (see here a previous post by BeBeez). The buyer retained as advisor Studio Legale Pavesio e Associati, Negri-Clementi, and E*finance consulting Reply. Ughi e Nunziante assisted the vendors Digital Magics (7.97%) and CDP Venture Capital (6.73%) which invested in Plurima in September 2020. Prior to this transaction, Plurima also belonged to Marco Gambardella (37.49%), Marco Fabrizio Ferro (37.49%) and other minority owners.
Tikedo, an Italian label producer that belongs to White Bridge Investments since March 2023, announced the acquisition of Mach Label, an Italian competitor (see here a previous post by BeBeez). Gianfranco Scaperrotta, the target’s ceo, will reinvest in the company. Tikedo retained Alma LED and EY as advisors. Mach Label has sales of 5 million euros. Tikedo has revenues of 20.9 million euros, an ebitda of 6.3 million and a net debt of 18.2 million.
Italian football team Simone Giacomini and Antonino Maira sold Unione Sportiva Triestina Calcio to LBK Capital (see here a previous post by BeBeez). Chiomenti assisted the buyer while Rappazzo advised the vendors.
Nasdaq-listed Brera Holdings PLC and Brera Milano Italian team acquired UYBA Volley Busto Arsizio which retained Valuefinance as advisor (see here a previous post by BeBeez). Brera Holdings acquired 51% of UYBA Volley. Giuseppe Pirola and Gianluigi Viganò will act as chairman and ceo of UYBA. On 9 February, Thursday, Brera Holding listed on Nasdaq and raised 7.5 million US Dollars.