Milan-listed NB Aurora, a permanent capital investor, signed a binding agreement for selling 49.9% of its portfolio to NB Aurora Co-Investment Fund II Sicav RAIF, a vehicle that manages NB AIFM (part of Neuberger Berman) and that has a fundraising target of 160 million euros while attracting the interest of investors for 167 million (see here a previous post by BeBeez). The buyer will take 49.9% of NB Aurora Holdings and 4.9% of MIC Co-investment Fund for a total of 144.2 million.
Carel Industries, a Milan-listed company active in the field of refridgeration sectos, signed a binding agreement for acquiring 82.4% of Kiona Holding, a proptech platform, from Summa Equity which acquired the asset in 2015 (see here a previous post by BeBeez). Kiona’s founder, some of its employees and two early investors from Norway will keep the remaining stake in the company and signed a three-years lock-up agreement. The enterprise value of the target amounts to 210 million euros. Kiona has sales of 21 million.
Dentressangle Capital, a French investment holding that belongs to the eponymous Family, signed an agreement for acquiring Italian pharma contract manufacturing Dietopack from private equity Trilantic Europe which acquired the asset in 2020 through its portfolio company Doppel Farmaceutici (see here a previous post by BeBeez). Sources said to BeBeez that the transaction value amounts to 50 million euros or 13X EBITDA. Trilantic posted a 3X return on the equity that invested. The closing is subject to the Golden Power and other regulatory authorizations. Dentressangle Capital also said that it signed an agreement for the acquisition of Naturacare, a food integrator producer that belongs to with Belgium’s M80 Partners. The investor aims to create a pan-European player that may carry on further acquisitions. Sources said to BeBeez Dietopack and Naturacare will generate an aggregated ebitda of 10 million. Equita, De Pardieu Brocas Maffei e Pedersoli, PwC, Alvarez & Marsal, Indefi, Tauw, and Marsh assisted Dentressangle Capital. Trilantic europe, retained Nomura, EY and LMCR Studio Legale.
F2A, an Italian BPO that belongs to Ardian since 2016, acquired the majority of Bartoli & Arveda, an Italian competitor (see here a previous post by BeBeez). Raul Mattaboni is the vice-chairman and ceo of F2A and said that the company aims to carry on further acquisitions. F2A has sales of 70 million euros.
Fondo Italiano per l’Efficienza Energetica (FIEE), Marguerite and Pioneer Point Partners will merge Comat Servizi Energetici (CSE) and Metrotermica and create an energy management pole (see here a previous post by BeBeez). Marguerite and Pioneer will acquire Comat from FIEE that will invest in Metrotermica. Marguerite and Pioneer Point Partners retained as advisors Lazard, Chiomenti, Gianni & Origoni, Bain, Riina , PwC, and Willis Tower Watson. CMC Capital, Deloitte, KPMG, and Studio Fantozzi & Associati assisted FIEE. CSE has sales of 53.9 million euros, an ebitda of minus 19.4 million, a net debt of 47.4 million and equity of 29.5 million. Metrotermica has sales of 8.3 million, an ebitda of minus 3.1 million, a net debt of 1.8 million and equity of 6.5 million.
IMA Industria Macchine Automatiche, an Italian producer of machinery for the packaging sector that belongs to BC Partners, acquired 70% of Mespic, an Italian competitor, from Fabio Garavini (see here a previous post by BeBeez). Poggi & Associati assisted IMA, while the vendor retained Studio Morganti Dottori Commercialisti and Bacciardi Partners.
Altofare group, an Italian producer of accessories for luxury fashion that belongs to White Bridge Investments, acquired Griste, an Italian competitor from the Burattin Family that will keep its management role and reinvest for a minority (see here a previous post by BeBeez). Davide Aicardi is the ceo of Altofare. Crédit Agricole Italia, Intesa San Paolo, Banco BPM, BPER, and BNL financed the transaction and retained Simmons & Simmons as advisor. White Bridge Investments received assistance from Giovannelli e Associati, Deloitte, Proj.Eco, Willis Italia, and KPMG. Buttignon Zotti Milan & Co, BPA Commercialisti and SAT Studio Legale assisted Griste which has sales of 10.1 million euros, an ebtida of 3.5 million and net cash of 1.6 million.
Eurofiere (EF Group), an Italian company active in the design and structuring of trade fairs stands that belongs to EOS IM, acquired Giordano Allestimenti and Progetto Giordano, two Italian competitors, from Domenico Giordano and Giuseppe Giordano, the targets’ even owners (see here a previous post by BeBeez). After such a transaction, Eurofiere will generate sales of above 60 million euros. EF Group hired Gattai, Minoli, Partners, RMU Tax Lex, PWC, and Greenwich. The vendors received assistance from Sri Avvocati and Studio F.lli Florio.
Starlight Group, a subsidiary of Star Capital, said it acquired Italian producer of lighting items for the naval sector O. Creations from Annalisa Coltri (30%) and ceo Rodolfo Ongarato (70%) who will reinvest for a minority and keep his role (see here a previous post by BeBeez). Milan-listed illimity Bank financed the transaction and retained Dentons. Russo De Rosa Associati, Giliberti Triscornia e Associati and DVR Capital assisted Star Capital. The vendors retaines Studio Legale CCM and Gianni Capone. O.creations has sales of 5.6 million euros, an ebitda of 0.69 million and a net financial debt of 1.75 million.
Italy’s labels producer Tikedo, a portfolio company of White Bridge Investments, acquired the majority of Modulgraf, an Italian competitor (see here a previous post by BeBeez). Modulgraf’s ceo Daniele Barontini sold part of his 62.5% of the business and will reinvest in the company with his kids Emiliano and Gabriele. Vincenzo Bachi had 37.5% of the company. Tikedo received assistance from Ethica Group, Studio Giovannelli e Associati, Studio Athena e Associati, and Proj.Eco. Modulgraf appointed Studio Bonacchi Dottori Commercialisti, Studio Legale CGM and Leonardo Panaiotti. The target has sales of 5 million euros, an ebitda of 1.8 million and a net debt of 0.424 million.
Banca Generali‘s Luxembourg subsidiary BG Private Markets launched three vehicles for its High Networth (HNW) and Ultra High Networth (UHNW) clients with Carlyle (private credit), Lion River (private equity), and Generali Real Estate (see here a previous post by BeBeez). The clients that allowed Banca Generali to manange at least 1.25 million euros and that are Mifid-complainat well informed investors may invest up to 10% of their portfolios.
FITEC (Fondo Italiano Tecnologia e Crescita), a growth capital vehicle of Fondo Italiano d’Investimento (part of Cdp Equity) raised 137 million euros ahead of a 250 million target (see here a previous post by BeBeez). Fitec attracted the resources of Cdp Equity, Cassa Nazionale di Previdenza e Assistenza Forense, Intesa SanPaolo, and other investors. Claudio Catania and Mauro Pretolani head FITEC which will implement a buy & build strategy for Italian SMEs.
Star First Partners, an Italian search fund that Alessandro Conti heads, raised 0.45 million euros and retained Gianni & Origoni as legal advisor (see here a previous post by BeBeez). Star First Partners will receive the support of Alza Capital, Istria Capital, Vonzeo, Evolutiq, Cerralv Capital, One To One Asset Management, Vito Giurazza, Alessandro Fracassi, Luca Bucelli, Paolo De Luca, Alexander Kirn, and Till Bossert.
