NetCo, the vehicle that aims to acquire the network of Milan-listed TIM, may attract 10 billion euros for a 10% stake (15% for a higher investment) from F2i (see here a previous post by BeBeez). The Italian Ministry for Economics may take up to 20% of NetCo that will also attract the resources of Fondazione Cariplo (35 million), Fondazione Compagnia di San Paolo (35 million), Fondazione Cariparo (15 million), Fondazione Crt (15 million), Fondazione del Banco di Sardegna (30 million), Carilucca (30 million), Fondazione Roma (20 million), Cassa Forense (150 million), Enpam (100 million), Inarcassa (50 million), Cassa Geometri (50 million), Enasarco (25 million), Cassa dei Commercialisti (25 million), and Poste Vita (100 million). KKR and Abu Dhabi Investment Authority will own 65-70% of NetCO.
Enel Green Power, part of Milan-listed energy giant Enel, sold 50% of its Greek subsidiary Enel Green Power Hellas to Macquarie Asset Management (see here a previous post by BeBeez). Enel fetched 350 milioni di euro out of such a sale on the ground of an enterprise value in the region of 980 million. Enel Green Power North America sold to Ormat Technologies a portfolio of US based renewable energy plants for 250 million. After these deals, Enel’s debt reduced by 350 million.
Permira is holding talks with CVC Capital Partners for selling its 83.18% stake in Italian fast food chain La Piadineria, an asset that acquired in 2017 from Dea Capital Alternative Funds (currently 8.82% owner) for an enterprise value in the region of 250 million (see here a previous post by BeBeez). Sources said to BeBeez that the funds are close to reaching an agreement. Press reports said that the enterprise value is worth above 300 million euros. La Piadineria has revenues of 139.9 million, an ebitda 34.7 million and net debts of 41.3 million.
H14, the holding of Luigi Berlusconi, Barbara Berlusconi and Eleonora Berlusconi (48% owners of Fininvest which has 35% of Milan-listed Mediaset) acquired 3.29% of Vam 32 Invest, a vehicle for pouring resources in Italian fashion firm Gruppo Florence, a portfolio asset of Permira (see here a previous post by BeBeez). Gruppo Florence has sales of above 600 million euros.
The De Albertis raised its stake in Italian real estate developer Borio Mangiarotti from 80% to 100% as Värde Partners sold its interest in the firm (see here a previous post by BeBeez). Borio Mangiarotti hired Cappelli RCCD while DLA Piper assisted Värde Partners. The target has sales of 110 million euros, an ebitda of minus 3.2 million, net profits of 0.2 million, a net financial debt of 7.1 million, equity of 48 million, and a portfolio of orders of 250 million.
Milan-listed Almawave, a subsidiary of Almaviva for the data & artificial intelligence sector, acquired in cash 70% of Mabrian Technologies, a Spanish software house for the tourism sector (see here a previous post by BeBeez). BeBeez reported about the negotiations in November 2023. CMP Law and Studio Bartolome & Briones assisted Almawave. Mabrian Technologies retained Cuatrecasas. The transaction is worth 3.7 million euros on the ground of an enterprise value of 6.1 million, but the buyers may pau an up to 1.5 million earn-out upon the achievement of undisclosed targets. Almawave signed a call option for acquiring a further 30% of Mabrian by 2026.
Tages Capital acquired Bluefield Sole Ita from London-based Bluefield Partners (see here a previous post by BeBeez). Tages received assistance from Dentons while Green Horse advised Bluefield.
LuisaViaRoma Group (fka LuisaViaRoma), an Italian e-commerce for luxury items that belongs to Style Capital since 2021, acquired Holding IT from ceo Tommaso Maria Andorlini (see here a previous post by BeBeez). Russo De Rosa Associati assisted the buyers.
The family office of Bahrein‘s prince Al-Khalifa will invest 175 million euros in the 195 million capital increase of TaTaTu, a social network that Andrea Iervolino created, for acquiring a 4% stake (see here a previous post by BeBeez). TaTatu will invest 20 million in the capital increase. Iervolino said that it will invest such resources in the movie production house Tuscany Film Studio and the construction of a luxury resort. Further board members of TaTaTu are Giorgio Paglioni, Eduardo Teodorani-Fabbri, Giada Briziarelli, and Elisabetta Randazzo. In 1H23, TaTaTu generated sales of 60.4 million, an adjusted ebitda of 1.6 million and an adjusted net debt of 8.6 million.
Gruppo San Donato, an Italian healthcare company that belongs to the Rotelli Family, hired Morgan Stanley for finding an investor(see here a previous post by BeBeez). Kamel Ghribi is the vicepresident of gruppo San Donato which aims sounding the ground for a sovereign fund investment.
Ambienta acquired the majority of Dutch The Rent Company (TRC), a DaaS (device as a service) provider (see here a previous post by BeBeez). The company aims to grow in the UK and Europe through M&A. TRC’s founder Ronald van den Boogard and ceo Marc Boelhouwer will keep their role and invest in the transaction. Ambienta received assistance from Houlihan Lokey, Bain, PwC, Alvarez & Marsal, Orange Clover, and Willis Towers Watson.
Belgium’s Ceres Pharma, a portfolio company of Naxicap Partners, acquired Italian competitor Aesculapius Farmaceutici from Enzo Moroni (90%) and Rosa Bordoni (10%) (see here a previous post by BeBeez). PwC TLS Avvocati e Commercialisti assisted the buyers, while LCA advised the vendors.
In 2023, Italian market players closed 547 private equity transactions (549 in 2022) (see here a previous post by BeBeez and see here BeBeez 2022 Private Equity Report of BeBeez Private Data available for the subscribers to BeBeez News Premium and BeBeez Private Data). Download here the full report with the deals details.
