On 24 November, Friday, Milan-listed TIM‘s board said that the sale of a stake in NetCo, the company’s infrastructure network, to KKR will reach the closing by summer 2024 (see here a previous post by BeBeez). The transaction is reportedly worth 22 billion euros.
Further to Bank of America, JP Morgan and Mediobanca, joint global co-ordinators for the IPO of Italian fashion firm Golden Goose, an asset that Carlyle sold in 2020 for about 1.3 billion euros, Permira may hire further firms, a source close to the matter said to BeBeez (see here a previous post by BeBeez). Press reports said Lazard and Latham&Watkins may join the advisory panel.
Italian insuretech Prima Assicurazioni may attract the resources of a further investor on the ground of an enterprise value of 1 billion euros (see here a previous post by BeBeez). Blackstone, Goldman Sachs and Carlyle have a stake in the business. Prima’s main shareholder is chairman and founder Teodoro D’Amborsio (48.92%). The current owners may sell part of their holding through a capital increase.
Pillarstone is in advanced talks for selling Italian shipping company Premuda to IQ-EQ Fund Management and the antitrust authority set 30 November, Thursday, as deadline for filing objections (see here a previous post by BeBeez). KKR will sell its stake in the business, while Pillarstone will act as advisor to the buyer.
FSI said it acquired a minority of Italian domotics company Nice and appointed Carlo Moser and Carlo Bozotti as board members (see here a previous post by BeBeez). Nice received assistance from Lazard, Legance Avvocati Associati and Kearney. FSI hired BNL BNP Paribas, Unicredit, Ernst & Young, Oliver Wyman, and Bonelli Erede.
Industry 4.0 Fund, a vehicle of Quadrivio, acquired Isa and Isa Montaggi through their portfolio company SKA, a company that provides items for the agricoltural and zootechnical sector (see here a previous post by BeBeez). Industry 4.0 fund raised 201 million euros at the end of 2022 and invested 70% of such resources, investment director Pietro Paparoni said to BeBeez. ISA Montaggi has sales of 0.905 million, an ebitda of 0.038 million, a net debt of 0.033 million, and equity of 0.055 million.
Ca’ Zampa, a vendor of items for pets that belongs to G Square Healthcare Private Equity since 2021, said it acquired Clinica Veterinaria di Orvieto, Istituto Diagnostico Veterinario, Clinica Campo Marzio, Ambulatorio Veterinario Briotti Piazzai Celani, and other clinics (see here a previous post by BeBeez). Ca’ Zampa retained EY SLT and EY Advisory and now owns 26 clinics. The Passera and Doris Families own a minority of Ca’Zampa. Giovanna Salza is the ceo and foundress of the buyer which has sales of 3.2 million euros, an ebitda of minus 4.9 million, net cash of 1.9 million, and equity in the region of 11 million.
Company Services Swiss (CSS), a Swiss producer of coatings for underwater pipeline joints, and Italian competitor Drafinsub are holding talks for a merger that will create a Switzerland-based 65 million euros revenues company rebranded as CSS Drafinsub Holding (see here a previous post by BeBeez). Fabio Valentini, and Gianluca Passeri will act as chairman and ceo, while Walter D’Aniello will be the coo.
Sweden’s Lifco acquired 80% of Italian competitor Emilplastica, an company for plastic moulding, from the Zanicheli Family that will keep a 20% stake (see here a previous post by BeBeez). Lifco hired CMPlaw while Emilplastica appointed the legal unit of Gruppo Ofelia. The target has sales of 1.7 million euros, an ebitda of 0.442 million and net cash of 0.695 million.
Tre Zeta Group, an Italian manufacturer of luxury soles that belongs to Koinos Capital, acquired Italian competitor Do.Gi. (see here a previous post by BeBeez). Tre Zeta Group received assistance from Russo De Rosa Associati, Alpeggiani Studio Legale, Bernoni Grant Thornton, and Ramboll. Do.Gi. has sales of 7.9 million euros, an ebitda of 1.6 million and net cash of 2.4 million.
Italian search fund Atlas Partners raised 0.65 million euros (see here a previous post by BeBeez). Stefano Carpano, Atlas founders and managing partner, said to BeBeez that the fund aims to support an Italian company with revenues of 10 – 40 million euros that is facing generational issues. Giacomo Maria Garbarino is the other founder and managing partner of Atlas.
Italian energy distributor Big Energy, a company that equally belongs to Maria Teresa Mazzitelli and Viride, acquired Amalfitana Gas (see here a previous post by BeBeez). Alessandro Lamberti, the chairman of Viride, and Pier Luigi De Flammineis will head Amalfitana Gas. Deutsche Bank financed the transaction and hired Dentons. Mazzitelli and Viride received assistance from Orrick. Amalfitana Gas has sales of 8.2 million euros, an ebitda of 3.9 million, a net financial debt of 2.7 million, and equity of 48.7 million.
TestBusters, a company that provides tutoring services for University admission tests, acquired UK competitor UniAdmissions, that supports candidates for Oxford University and Cambridge University(see here a previous post by BeBeez). After such a deal, TestBusters will generate sales of 10 million euros. Studio Russo De Rosa Associati, TCL Advisors Studio Associato, Studio Legale Terzo Comma, AccountsCo, and Lexsential assisted the buyer. UniAdmissions retained MCF Corporate Finance, Sterling Accounting Solutions and Freeths.
Italian luxury fashion firm Jacob Cohën Company said it acquired Italian distributor JC Industry from Ambrogio Dalla Rovere and Francesco Dalla Rovere with the financng support of illimity Bank and illimity Selective Credit (see here a previous post by BeBeez) FAI – Futuro all’Impresa, Pirola Pennuto Zei & Associati and LS Laghi & Partners assisted Jacob Cohën Company while Illimity Bank and iSC hired Gatti Pavesi Bianchi Ludovici. Jacob Cohën has sales of 13.4 million euros, an ebitda of 2.2 million and a net financial debt of 4.8 million.
Zucchetti, an Italian B2B software house that belongs to the eponymous family, decided to exercise the call option for raising to 51% its 25% in AWMS, a workforce management firm that belonged to AzzurroDigitale (see here a previous post by BeBeez). By 2024, Zucchetti will acquire the whole of the target. Carlo Pasqualetto will keep his role as ceo of the target and said to BeBeez that AzzurroDigitale is mulliong for an IPO in 2030. Gianmario Tondato Da Ruos, Alessandro Ballerio, Andrea Mazzaferro, and Francesco Beraldi sold their stakes in AWMS which has sales of 1.3 million euros, an ebitda of minus 0.514 million, net cash of 0.064 million, and equity of 1.3 million.
Covisian Credit Management (CCM), a credit management subsidiary of Covisian (a bpo firm that belongs to Aksìa), said it acquired Credires (fka SEK-Securitas) a credit recovery company (see here a previous post by BeBeez). CCM retained KPMG. Credires hired Cross Border. Laura Gianfaldoni and Emanuela Puccinelli head Credires that has a 2 billion euros worth Gross Book Value (GBV).
Casalasco Società Agricola, an Italian producer of canned tomato that belongs to QuattroR since 2021, acquired 70% of De Martino, an Italian food trading company, from Wolfgang De Martino who kept a 30% (see here a previous post by BeBeez). De Martino has sales of 40 million euros. Costantino Vaia is the ceo of gruppo Casalasco.
Sicura, an Italian work safety services provider that belongs to Argos Wityu since 2020, acquired CDS Diagnostica Strumentale from chairman Maurizio Casasco (80%) and Luigi Mori (20%) for an undisclosed amount (see here a previous post by BeBeez). Cds has sales of 8.5 million euros and an ebitda of 3.2 million. In early 2022, Jean Pierre Di Benedetto, Italy’s country head of Argos Wityu, said to BeBeez that Sicura was actively looking for acquisitions. The company has sales of 80 million with an ebitda of 18 million.
Aktid acquired Italproject, an Italian waste management company (see here a previous post by BeBeez). The target’s ceo Marco Crociani reinvested in Aktid. Italproget previously belonged to the Cangialeoni Family (61%), Stefano Satanassi (16%), Crociani (9%), Piero Prati (9%), and Giuseppe Fabbri (5%). Aktid hired LCA Studio Legale, Weil, Gotshal & Manges (Paris). Initiative & Finance and Crèdit Agricole, the buyer’s owners since 2022, retained De Pardieu Brocas Maffei and Pedersoli Studio Legale. Italprojects has sales of 10 million euros, an ebtida of minus 0.095 million and net cash of 2.5 million. Aktid has sales of 80 million and aims to grow through further m&a transactions.
Europe Capital Partners acquired Italian photovoltaic energy company Omnia Energy 3 from Omnia Immobiliare, the holding of Stephane Morettiand Nicolas Moretti that will reinvest for a minority of the buyer and keep their management roles (see here a previous post by BeBeez). Tenax Sustainable Credit Fund financed the transaction. Pirola Corporate Finance e Pirola Pennuto Zei & Associati assisted the vendors. Europe Capital Partners retained CS & Associati, Spada Partners, and Fichtner Italia. Omnia Energy 3 has sales of 24.5 million euros, an ebitda in the region of 10 million and net cash of little above 4 million.
Italy’s ICT firm Impresoft, a portfolio company of Clessidra Private Equity since 2021, acquired Syscons Group, a provider of SAP-based supply chain solutions (see here a previous post by BeBeez). Franco Taretto, Savino Dal Molin (ceo), Silvia Taretto, Alberto Taretto, and Andrea Antenucci sold their stakes in the company that has sales of 13.6 million euros, an ebitda of 1.7 million and a net debt of 0.659 million.
Almaviva -The Italian Innovation Company acquired 60% of 2F Water Venture, an Italian benefit company active in the environmental monitoring of padovana attiva nel settore del Servizio Idrico Integrato (SII) che realizza soluzioni tecniche innovative per attività di monitoraggio ambientale e quali-quantitativo delle water grids (see here a previous post by BeBeez). ADVANT Nctm assisted 2F Water Venture. Almaviva retained CMPlaw.
Efeso Management Consultants, a portfolio company of Eurazeo since 2019, invested in TowerBrook Capital Partners (see here a previous post by BeBeez). Sources said to BeBeez that Efeso and Eurazeo will acquire a 35% of TowerBrook each. The target’s partners (65) will reinvest in Efeso Management Consultants on the ground of an enterprise value of 450 million euros. Eurazeo may gain a 3X cash-on-cash and a 24% IRR out of its investment in Efeso Management Consultants which has sales of above 200 million euros. Bruno Machiels is the co-ceo of Efeso.
Italian clinical diagnostic firm PureLabs launched a 15 million euros capital increas that attracted 4 million euros from RedFish LongTerm Capital (RFLTC) that now owns a 32% stake in the business (see here a previous post by BeBeez). The company’s shareholders poured 8.5 million.
