Cavour Aero (a Luxembourg 60/40 joint venture of Ardian and Crédit Agricole Assurances), the owner of 2i Aeroporti‘s 49%, attracted the non-binding offers of Swiss Life, CPP-Canada Pension Plan and Asterion for a 49% stake (see here a previous post by BeBeez). The deal could be worth in the region of one billion eurs. The asset could also receive the offers of BCI-British Columbia Investment Management Corporation and Singapore’s GIC. Previous press reports said that The Public Investment Fund (PIF), Abu Dhabi Investment Authority (ADIA), AXA, PSP Investments, and CDPQ-Caisse de dépôt et placement du Québec expressed interest in the asset. F2i has 51% of 2i Aeroporti which has sales of one billion euros and an ebitda of 450 million. The company manages the airports of Milano Linate, Milano Malpensa, Napoli-Salerno, Torino, Trieste, and Bologna and has a minority of Skyports.
Italian broadcasting towers companies Rai Way and EI Towers (an asset of which F2i has 60% and MFE-MediaForEurope 40%) received the golden power authorization for merging and create a Milan-listed 2 billion euros worth company (see here a previous post by BeBeez). The company will own the tower of Italian TV broadcasters Rai-Radiotelevisione Italiana and Mediaset. Rai also received the authorization for selling a minority of the towers company while keeping a stake of at least 30%.
Consob, the Italian stock market regulator, approved the delisting public offer that Milan-listed special materials producer Saes Getters attracted from SGG Holding (30.11% owner of the target and 46.19% of the voting rights) (see here a previous post by BeBeez). The 26,3 euros per share offer will start on 27 May, Monday, and will end on 21 June, Friday (liquidation on 28 June, Friday). Massimo Della Porta is the chairman of Saes Getters. The buyers will invest up to 308.5 million euros and will receive the financing support of Mediobanca.
London’s Three Hills Capital Partners said it will invest 115 million euros in senior equity and ordinary equity of La Bottega, an Italian distributor of cosmetics for luxury hotels, from The Equity Club, a club deal vehicle of Mediobanca Private banking that acquired 48.91% of the asset in 2019 (see here a previous post by BeBeez). A sovereign fund that poured resources in Three Hills will co-invest in La Bottega. LAB23 (50.1% – Tommaso Pacini has 60% of such vehicle belongs to while Giulio Benni owns 40%) and Jonathan Rossi Ricci (1%) are further owners of the business. After the closing of the deal, Pacini will increase his stake in La Bottega through a hybrid instrument. Mediobanca, Oc&C, New Deal Advisors, Chiaravalli Reali & Associati, and Deloitte & Gatti Pavesi Bianchi Ludovici Studio Legale Associato assisted the vendors. Bcg, Kpmg, Adit, Key2People, Altman Solon, Pwc, Legance, Aon assisted the buyers. The banks that supported the transaction are Intesa Sanpaolo, Crédit Agricole Italia, Banca Nazionale del Lavoro, Bper Banca, Banca Monte dei Paschi di Siena, Deutsche Bank, and UniCredit.
KWC Group, a Swiss interior design company that belongs to Equistone, said it sold KWC Home to Paini, an Italian producer of taps and fittings (see here a previous post by BeBeez). Equistone retained DC Advisory (m&a), Bär & Karrer (legal) and KPMG (financial). Paini received assistance from MLL Legal and PwC. KWC has sales of 83 million CHF.
Safety21, an Italian software provider for the smart road and smart city sector that belongs to BU (Bregal Unternehmerkapital) since October 2021, acquired Velocar, an Italian competitor from Paolo Bazzoli, that will support the business as consultant (see here a previous post by BeBeez). Orrick, Spada & Partners, Startax and Essentia assisted the buyers. Velocar has sales of 6.8 million euros, an ebtida of 1.8 million and net cash of 0.024 million.
Taste of Italy, an agrifood private equity that is part of DeA Capital Alternative Funds, acquired 59% of Magel from the Borracci Family (see here a previous post by BeBeez). Magel makes cover systems for table grape and other fruit crops. The vendors will keep a 41% stake. Giuseppe Borracci (ceo) and Stefano Borracci (head of sales) will keep their roles and implement a growth strategy through organic development and M&A. Studio Legale Eversheds Sutherland, Galileo Business Consulting, KPMG, Goetzpartners, BC&Partners, and ERM assisted the buyers. The Borracci Family retained Stefano Narducci, Annarita Dizonno, Paolo Millucci, and Alfonso Riccardi. Magel has sales of 27.8 million euros, an ebitda of 7.3 million and net cash of 7.8 million.
Verdalia Bioenergy, a platform that Goldman Sachs launched in 2023 for investing more than one billion euros in the European biomethane sector, acquired a portfolio of 7 plants from Green Arrow Capital and Lazzari & Lucchini (see here a previous post by BeBeez). The vendors retained MFZ and Parola & Associati. Verdalia Bioenergy received assistance from Intesa SanPaolo, Ashurst, EY, Ramboll, and ERM.
Progressio acquired Officine S. Giacomo, an Italian manufacturer of industrial machinery, through a management buy-in deal (see here a previous post by BeBeez). Renzo Carniel (90%) and Renzo Secco sold their stakes in the company. Cassa Centrale Banca – Credito Cooperativo Italiano and Banca Prealpi Sanbiagio Credito Cooperativo financed the transaction. Progressio received assistance from Russo De Rosa Associati, Roland Berger, EY, Ethica Group, and Greenwich. The vendors retained Mediobanca, Lawes Avvocati. Gruppo Cassa Centrale hired Eversheds Sutherland. Officine S. Giacomo has sales of 21.5 million euros (more than 50% export), an ebitda of 5.7 million and net cash of 23.2 million. Filippo Gaggini is the ceo of Progressio.
Federico Freni, the Italian vece ministry for Economy, said that CDP is working on the launch of a fund of private capital funds through a Public-Private Partnership (PPP) (see here a previous post by BeBeez). Freni said that CDP would contribute for 49% of the vehicle’s resources.
Gens Aurea, the owner of second-hand jewellery retailers Orocash and Luxury Zone and of the brand Alfieri & St.John, said it acquired GioiaPura, an online marketplace (see here a previous post by BeBeez). Davide Franco (ceo) sold the asset. Gens Aurea belongs to Springwater Capital since 2019. Ethica Group assisted GioiaPura which has sales of 10.3 million euros, an ebitda of little below 0.06 million, net losses of 0.425 million, net cas of 1.9 million, end equity of 4 million.
Simest, a subsidiary of CDP, invested 6 million euros for supporting Italian software house Objectway in its acquisition of Canada’s Nest Wealth Holding, a provider of WealthTech solutions (see here a previous post by BeBeez). National Bank of Canada previously invested 6 million CADs in Nest Wealth through NAventures.
Cap Vert, a French urban gardening solutions provider that belongs to Ambienta since 2021, acquired French competitor Groupe Vérali (see here a previous post by BeBeez). Eric Girot is the ceo of Cap Vert which did not disclose the details of the transaction.
Silmax, an Italian producer of milling instruments, sold a majority stake to German competitor PFERD Rüggeberg (see here a previous post by BeBeez). Dario Fumagalli, ceo and shareholder of Silmax, will keep his role and a minority of the company. Scouting Capital Advisors, PwC TLS and DBM Partners Commercialisti Associati advised Silmax. PFERD retained DZ BANK, DLA Piper and Roedl & Partner. Silmax has sales of 12 million euros, an ebitda of 1.3 million and a net financial debt of 6.7 million.
Claudia Palazzo raised to 100% her 16% holding in Italian dairy company Caseificio Palazzo (see here a previous post by BeBeez). Intesa Sanpaolo, and UniCredit financed the acquisition of the stakes that Antonia Leongrande (28.03%), Fabrizio Palazzo, Joss Palazzo, and Vincenzo Palazzo (18.68% each) held in the company. The vendors received assistance from UBS, PedersoliGattai, Studio Legale Costantino, FPS, and PwC. The buyer retained Pietro Dalena, Alessandro Mele and Piergiorgio Lerede. Caseificio Palazzo has sales of 74.1 million euros, an ebitda of 1.4 million and net cash of 7.4 million.
Italian dairy company Sabelli acquired Italian competitor Stella Bianca from the co-operative firm Mila-Latte Montagna Alto-Adige (see here a previous post by BeBeez). After such a transaction that may close in June 2024, Sabelli will have sales of above 320 million euros with an ebitda of more than 41 million. The buyer received assistance from BPER Corporate & Investment Banking, Giovanardi, Fava Lex and LDL Lex. Mila and the managers of Stella Bianca retained Di Stefano/Auer/partner. The target has revenues of 51.5 million, an ebitda of minus 2.1 million, a net debt of 20.2 million, and equity of 3.5 million. Simone Mariani is the ceo of Sabelli.
Medicair Group, a producer of home care devices and a provider of hospitals services, acquired ADI Gruppo Sanimedica from even owners Alessandro Carfagno and Lucio Principe (see here a previous post by BeBeez). The target has sales of 10.2 million euros, an ebitda of 1.3 million and net cash of 0.85 million. Morri Rossetti, Quality Consulting and GBO Studio assisted MedicAir, a 200 million euros sales company that belongs to Filippo Moscatelli (66%) and Marina Bressan (34%). ADI Gruppo Sanimedica retained Gerardo Spaltro.
