Azzurra Capital signed a binding agreement for acquiring a 30% of Desa Group, an Italian Home & Personal Care (HPC) company that owns the brands Chanteclair, Spuma di Sciampagna and Quasar (see here a previous post by BeBeez). The families Sala, Silva and Malagoli will keep a controlling stake of the firm, while Azzurra Capital will appoint new board members. Desa has sales of 440 million euros, an ebitda of 67 million, net cash of 45.1 million, and equity of 306.7 million.
Wide Group, an insurance broker that belongs to Pollen Street Capital, acquired Italian competitors Mida from Davide Arculeo (80%) and Stefano Agnesi (20%) and Pico Adviser Group from Mario Puviani (61.63%), Penta (21.99%) and Massimo Cerchi (16.38%) (see here a previous post by BeBeez). WIde Group’s ceo Gianluca Melani reportedly said that the company has 200 million euros cash available for further acquisitions. The ceo added that Wide Group aims to increase its 18.6 million turnover to 100 million by the next five years. Press reports said that the Italian broker is interested in GB Sapri.
Distressed Italian packaging company EMS Group, a portfolio asset of Xenon Private Equity, started a receivership process and appointed HLB Analisi as advisor (see here a previous post by BeBeez). Press reports said that the company is up for sale, but the potential buyers required to reduce the costs. EMS has sales of 206.5 million euros, an ebitda in the region of 8 million, net profits below 2 million, a net financial debt of 63.2 million, and equity of 56.6 million.
Kruso Kapital, a pldege and art lending subsidiary of Milan-listed Gruppo Banca Sistema, quotata a Piazza Affari, said it signed abinding agreement for acquiring Credito Economico Popular, the pledge credit unit of Portuguese Banco Invest (see here a previous post by BeBeez). Kruso Capital’s coo Giuseppe Gentile previously said to BeBeez Magazine that Portugal is an area where the company aims to expand. Kruso will pay 11 million euros for the asset once received the authorizations of the Portugal Central Bank and Banca d’Italia.
Attila Kiss (ceo) said that Florence, the Italian pole for producing luxury fashion accessories that belongs to Permira, acquired Italian competitors Trend and Red Pixel (see here a previous post by BeBeez). Trend’s even owners Stefano Pistolesi, Benedetta Prunecchi, Federica Prunecchi, and Filippo Prunecchi sold the company that has sales of 23 million euros, an ebitda of 0.94 million and a net financial debt of 3.8 million. Kiss previously said to BeBeez Magazine that by the end of 2023, Floence aims to raise to 700 million its current 600 million revenues.
Reaxing, an Italian producer of innovative fitness machines, attracted the resources of Legacy Investments (lead investor for a stake of 18.7%), Paul McGrath (11%) and Andrea Radrizzani (4.29%) that also joined the company’s board (see here a previous post by BeBeez). The investors subscribed to a capital increase. Sources said to BeBeez that the new shareholders invested in total 4 million euros. Mohamad Yaman will join Reaxing’s board on behalf of Legacy. Gionata D’Alesio is the chairman and founder of Reaxing.
Tokyo-listed food giant Nishimoto acquired Italy’s Uniontrade, an Italian distributor of ethnic food for the Ho.Re.Ca. and big distribution sectors (see here a previous post by BeBeez). The Sun Family sold Uniontrade and its subsidiaries Plaza Latina and Uni Logistic, but will keep the company’s management. Portolano Cavallo and EY assisted Nishimoto. Gatti Pavesi Bianchi Ludovici and DvrCapital advised Uniontrade which has sales of 85 million euros, an ebitda of 4.1 million and a net financial debt of 20 million.
Azimut Libera Impresa (ALI), Azimut Demos 1 and AZ Eltif – Ophelia signed a binding agreement for acquiring the majority of Value Group, a provider of safety service for railway and sea transports, from the Sergnese and Bocchieri Families (see here a previous post by BeBeez). Thomas Sergnese and Daniele Bocchieri will reinvest for a 40% stake and act as co-ceos. Eurazeo provided an unitranche financing facility and hired Orrick. Vitale&Co. and Studio Legale Giliberti Triscornia e Associati assisted the vendors. Value Group has sales in the region of 35 million euros.
DHL Supply Chain Italia, a subsidiary of logistic giant DHL, acquired the same sector unit of troubled Italian fashion firm Conbipel from BTX Italian Retail and Brands, a portfolio company of Singapore’s Grow Capital Global Holdings (see here a previous post by BeBeez). LCA assisted the vendor.
Kelso Pharma, a pharmaceutical company based in the UK that belongs to Apposite Capital, said it acquired Italian competitor Velit Biopharma from 55.5% owner and chairman Nicola Travierso, Michele Travierso (39.5%) and Maria Rosa Gardini (5%) (see here a previous post by BeBeez). Velit has sales of 4 million euros, an ebitda of 0.28 million and net cash of 0.58 million.
Milan-listed Banca Ifis said it acquired a 2.4% of Istituto della Enciclopedia Italiana fondata da Giovanni Treccani, an Italian iconic publishing firm (see here a previous post by BeBeez). Ernesto Fürstenberg Fassio, Banca Ifis chairman, will join the board of Istituto Treccani.
