Milan-listed TIM is delaying the disposal of Sparkle, its wholesale TMT subsidiary that is worth one billion euros (see here a previous post by BeBeez). On 5 December, Tuesday, Tim said that Optics Bidco, an asset of KKR that tabled a binding offer for NetCo (the infrastructure network of the Italian tmt), asked to extend to the end of January 2024 its due diligence activities ahead of making a final offer for Sparkle.
The Montezemolo, Gnudi, Regina, and Valli Families gained the full ownership of Italian cigars maker Manifatture Sigaro Toscano (MST), a subsidiary of SECI (the bankrupted holding of the Maccaferri Family)(see here a previous post by BeBeez). The buyers previously held 49.9% of the business. On 20 November, Monday, Bologna Court appointed Apeiron Management (a firm that Alessandro Fracanzani heads and that acts as exclusive advisor to Apollo Global Management for Italy) as exclusive manager for SECI’s assets and liabilities. MST is worth in the region of 200 million euros, market rumours say. The buyers received a financing facility of 108 million from Banca Monte dei Paschi di Siena, Banco BPM, BPER Banca, Deutsche Bank, and La Cassa di Ravenna and will invest such proceeds in the acquisition and debt refinancing of MST. Gattai, Minoli, Partners assisted the lenders. Chiomenti advised the buyers while Apollo and Apeiron Management retained Gianni & Origoni.
Eagleprojects, a tmt project management company, sold a 60% stake to Palladio Holding (PFH) (see here a previous post by BeBeez). Giovacchino Rosati (ceo), Antonio Caroppo (chairman), Egisto Edera, and Umberto De Julio sold part of their stakes. Sources said to BeBeez that the transaction is worth 50 million euros. Lincoln International, PwC TLS Avvocati e Commercialisti, Gianni & Origoni, and TCFCT Studio Associato assisted Eagleprojects. Palladio retained EY Parthenon, Advant Nctm, PwC, Deloitte, and Willis Towers Watson. Eagleprojects has sales of 26.4 million, an ebitda of 4.6 million, net debt of 5.6 million, and equity of 8.5 million.
Italian club deal platform WindeX acquired Frigotecnica Industriale Chiavenna (FIC) from the De Peverelli Family (see here a previous post by BeBeez). The buyers kept Giancarlo Balatti as chairman and appointed Domenico Sibilio as chairman for replacing Rossella De Peverelli. Banca IFIS and Banca Sella financed the transaction. WindeX received assistance from Giovannelli e Associati, Maisto e Associati, Roland Berger, PwC Deals, and CDI Global. The De Peverelli Family hired Dentons, Studio Addario e Partners and MIT.FIN. Simmons & Simmons advised the lenders. FIC has sales of 25 million euros (50% export), an ebitda of 3.1 million and net cash of 3.6 million.
Italian club deal platform onEquity acquired consumer company Home Fragrance from Nasdaq-listed Newell Brands (see here a previous post by BeBeez). Banca Popolare di Sondrio financed the transaction. Legance, KPMG and DLA Piper assisted onEquity. Newell Brands retained Eversheds. Home Fragrance has sales of 14 million euros and a 10% ebitda margin.
Credemtel, part of Credem, acquired 10% of Flairbit, an Italian software publisher (see here a previous post by BeBeez). Luca Bixio (co-founder and CEO), Matteo Rulli (co-founder) and Matteo Parodi (COO) sold their even stakes in Flairbit which has sales of 0.864 million euros, an ebitda of 0.166 million and net cash of 0.703 million.
Germany’s industrial company Härtha Group, a portfolio company of Bencis Capital Partners since 2018, acquired Italian competitor Vacuum (see here a previous post by BeBeez). Gerolamo Soliveri (27.96%), Leopoldo Caporali (21.51%), Valter Ferrari (5.38%), and Soliveri D’Este (45.16%) sold their stakes in the company. Allen & Overy assisted Härtha Group while the vendors hired Studio Legale Bianchi. Arkios Italia and PwC Deals Team acted as financial advisors. Vacuum has sales of 4.5 million euros, an ebitda of 0.455 million abd a net financial debt of 2.6 million.
Harcos Capital Partners, an investment company that Salvatore Aurelio Rubino and Omar Uger Agiami founded, acquired Italian producer of fixers and screws Bulloneria del Toce (BDT) from the Martinoli Family (see here a previous post by BeBeez). Banco di Desio e della Brianza financed the transaction. Matteo Martinoli will reinvest for a 30% of BDT that retained Proactiva Strategy M&A, Studio FVF Associati and Nicola Banone as advisors. Harcos Capital Partners hired Giovannelli e Associati and Athena Professionisti e Consulenti Associati. Gattai, Minoli, Partners assisted Banco di Desio e della Brianza. BDT has sales of 15.7 million euros, an ebitda of above 5.4 million and net cash of 4.5 million.
Cyber Guru attracted the investment of The Riverside Company (see here a previous post by BeBeez). Gianni Baroni (ceo) founded the company that in 2021 attracted the investment of P101, Azimut Libera Impresa and Andera Ventures. Cyber Guru has sales of 2.5 million euros, an abitda of minus 3.6 million and equity of minus 0.322 million.
