NYSE-listed luxury company Tapestry invested 8.5 billion US Dollars for acquiring NYSE-listed Capri Holdings, the owner of Versace, Jimmy Choo and Michael Kors (see here a previous post by BeBeez). The companies said that Capri’s shareholders will get 57 US Dollars in cash per share. The merged firms will generate revenues of 12 billion. Joanne Crevoiserat is the ceo of Tapestry.
On 10 August, Thursday, the Italian Government agreed to allow the Ministry of Economy and Finance (MEF) the invest 2.2 billion euros for a 20% of NetCo, the owner of the infrastructure network of Milan-listed TMT TIM (see here a previous post by BeBeez). KKR reportedly tabled a binding offer for acquiring NetCo which also owns Sparkle, a platform for submarine TMT cables (see here a previous post by BeBeez).
ION Investments, a global fintech player that Andrea Pignataro created, reached an agreement for acquiring Prelios, an Italian credit management and servicing company that Fabrizio Palenzona heads, from Davidson Kempner Capital Management (see here a previous post by BeBeez). The transaction value amounts to 1.35 billion euros. UniCredit, Intesa Sanpaolo, Bnp Paribas, Banco BPM, Standard Chartered Bank, and Mediobanca provided financing facilities for 600 million. Goldman Sachs and Linklaters assisted Davidson Kempner. Lazard and Russo De Rosa Associati advised Prelios. ION retained Ubs, Gattai, Minoli, Partners, Chiomenti, and Facchini Rossi Michelutti.
Intesa Sanpaolo is holding talks for acquiring Romania’s First Bank from JC Flowers & Co on the ground of an enterprise value of 200 million euros (see here a previous post by BeBeez). The target’s assets are worth 1.5 billion. Previous press reports said that JC Flowers hired Société Générale for selling First Bank which also attracted the interest of Unicredit.
Abu Dhabi Investment Authority (ADIA) and CapitalG, the independent growth fund of Google‘s owner Alphabet, signed a binding agreement for purchasing a minority of TeamSystem, the Italian provider of digital business solutions that belongs to Hellman&Friedman (H&F) and HG Capital (see here a previous post by BeBeez). Previous press reports said that the company also attracted the investment of Silverlake. Federico Leproux is the ceo of TeamSystem which has sales of 766.1 million euros and an adjusted ebitda of 369.8 million.
Lutech, an Italian ICT company of Apax Partners, announced the sale of Finwave to Fibonacci Bidco, another portfolio asset (see here a previous post by BeBeez). Apax acquired Lutech in 2021 from One Equity Partners. Fibonacci will also buy Artis Consulting and Lutech nl bv which has sales of 50 million euros and make 10% of Lutech’s ebitda. The vendor will reinvest the raised proceeds in further transformational acquisitions in Italy and abroad.
FSI said it acquired a minority of Nice, an Italian provider of home management solutions, through the subscription to a capital increase that may close by 4Q23 (see here a previous post by BeBeez). The founder and chairman Lauro Buoro (86.22%), ceo Roberto Griffa, director Lorenzo Galberti, and other minority shareholders are the current owners of the company. Maurizio Tamagnini heads FSI. Nice retained Lazard and Legance as advisors. FSI hired Ernst & Young and Bonelli Erede.
Hyle Capital Partners raised 89.638% of Milan-listed Kolinpharma, an Italian pharmaceutical company (see here a previous post by BeBeez). The buyer launched a public offer on the target on 4 Augusts, Friday, at 9,96 euros per share (after an initial bid of 9,76 euros per share) on the ground of an enterprise value of 14.8 million euros.
Sviluppo Sostenibile, a mid-market ESG private equity investor of DeA Capital Alternative Funds, signed a binding agreement for acquiring the majority of Italian windows producer Tecnoplast from the founder Enzo Cammillini who will retain a minority and his chairman role (see here a previous post by BeBeez). Ethica Group, OC&C Strategy Consultants, Giliberti Triscornia e Associati, Bernoni Grant Thornton, ADVANT-Nctm, and ERM assisted Sviluppo Sostenibile. Tecnoplast received an ESG appraisal from Cerved Rating Agency and hired Equita K Finance, Legance and KPMG. Tecnoplast has sales of 70 million euros, an ebitda of 11.2 million and net cash of 2.7 million.
Three Hills Capital Partners raised 85.84% of Milan-listed Digital360, a provider of B2B editorial and marketing services (see here a previous post by BeBeez). The fund launched a public offer ahead of a delisting at 5,35 euros per share. Digital36 has a market capitalization in the region of 110 million euros.
Gruppo San Donato and its subsidiary GKSD announced the acquisition of American Heart of Poland (AHoP), a network of hospitals of which Advent International acquired a minority in 2011 (see here a previous post by BeBeez). Sources said to BeBeez that the fund sold its stake. AHoP has a turnover of 250 million euros.
On 25 August, Friday, RegTech Open Project plc (RTOP), a provider of technology for the financial compliance sector, listed a 35% on London market (see here a previous post by BeBeez). RTOP has a market capitalization of 60 million GBP. Alessandro Zamboni, the ceo and founder of The Avangarde Group created RTOP which appointed Ian Halliday-Pegg as ceo.
Green Arrow Infrastructure of the Future (GAIC) acquired renewable energy plants based in Italy and Spain with a total power of 600 MW (see here a previous post by BeBeez). The fund raised below 400 million euros ahead of a target of 500 million.
Mexican food company Sigma Alimentos sold its Italian asset Norcia Cesare Fiorucci to German Navigator Group and Irish White Park Capital (see here a previous post by BeBeez). Gianni & Origoni assisted Navigator and White Park Capital. Sigma Alimentos retained Allen & Overy. Fiorucci has sales of 143 million euros and an ebitda of minus 23 million.
Finint Infrastrutture (Finint Infra), a vehicle of Finanziaria Internazionale, will soon start to fundraising after having received the authorization from Banca d’Italia (see here a previous post by BeBeez). Franco Bernabé, chairman, and Monica Scarpa, ceo, head Finint Infra which aims to fetch 1 billion euros. Market rumours say that Save, the firm that manages Venice airport, is of interest to the fund that is looking for a co-investor for the deal. EY‘s report Erns&Young EY Infrastructure Barometer 2023 surveyed the ceo of big firms and infrastructure investors who said that the sector in Italy is of interest, but bureaucracy and litigation are issues (see here a previous post by BeBeez). Marco Daviddi is the Strategy & Transactions Managing Partner of EY in Italy. However, in 2022, F2i generated an economic value of 11.5 billion (+42% yoy) (see here a previous post by BeBeez).
Olaf Nordmeyer, the former global co-head of infrastructure of Goldman Sachs, joined Vesper Infrastructure Advisory as co-founder and partner (see here a previous post by BeBeez). Paola Rastelli, Giacomo Rossi, Alfredo De Falco, Livio Fenati, and Guillermo Royo-Villanova are the fund’s further partners.
