Milan-listed ENI is close to selling less than 10% of its renewable energy subsidiary Plenitude to Swiss competitor EIP-Energy Infrastructure Partners for 750 million euros on the ground of an enterprise value of 8 billion (see here a previous post by BeBeez). Plenitude is reportedly mulling for listing by 2024.
Milan-listed asset manager Anima Holding said it signed for the acquisition of Kairos Partners from Swiss Julius Baer (65%) and the target’s managers (35%) (see here a previous post by BeBeez). Kairos Partners, which attracted the interest of Zurich Italia, has assets under management for 4.5 billion euros.
Project Informatica, an IT company that belongs to HIG Europe since 2020, said it acquired Italian competitor Fasternet from Giuseppe Maffei (55%) and Giancarlo Turati (45%) (see here a previous post by BeBeez). Project Informatica received assistance from Pavia e Ansaldo and PwC. Fasternet, which retained Nash Advisory and Pirola Pennuto Zei, has sales of 9 million euros, an ebitda of 0.73 million, net cash of 0.1 million, and equity of 1.1 million.
DGS, an IT company that belongs to HIG Europe since 2020, said it acquired Italian competitor Core Sistemi from Simone Di Battista and Stefano Lucà (see here a previous post by BeBeez). King & Wood Mallesons, Perani Pozzi Associati, Morpurgo e associati, and Spada Partners assisted the buyers. Macchi di Cellere Gangemi advised Core Sistemi which has sales of 10.4 milion euros and an ebitda of 1.1 million.
Fondo Italiano Agri & Food (FIAF), a vehicle of Fondo Italiano d’Investimento (part of CDP) for the agrifood sector, acquired the majority of Corradi e Ghisolfi, a developer of biogas plants (see here a previous post by BeBeez). The closing of the transaction may take place by the end of the year. Paolo Corradi will keep his ceo role while Chiara Corradi will join the company’s board and Ettore Corradi will become onorary chairman. Fondo Italiano d’Investimento retained LawaL, Spada partners, ERM, and Willis. Corradi e Ghisolfi has sales of above 30 million euros and hired UniCredit, Pavia e Ansaldo and Sorrentino.
WeBravo, an Italian digital couponing and affiliate marketing firm that belongs to Xenon Private Equity, acquired CheBuoni from the ceo Valentino Marangi (55%), Agron Shehaj (40%) and Antonio Marzio (5%) (see here a previous post by BeBeez). CheBuoni has sales of 2.4 million euros with an ebitda of 0.286 million. KT&Partners assisted WeBravo while the vendors retained Bersani&Partners.
Special Flanges, an Italian producer of industrial components of which Wise Equity owns 50%, acquired Belgium’s Hertecant Flanges from PMV and Down2Earth Capital (see here a previous post by BeBeez). Wise Equity retained Simmons & Simmons, Kpmg and ERM while Hertecant Flanges hired Kumulus Partners, Monard Law and LDS. Special Flanges has sales of 66.8 millio euros, an ebitda of 17 million and a net financial debt of 19.5 million.
On 10 November, Friday, the market capitalization of Milan-listed Servizi Italia, a company that rents linen to hospitals, rose by more than 35% as Coopservice and its subsidiary Aurum launched a delisting offer on the asset (see here a previous post by BeBeez). Coopservice already owns 55.334% of Servizi Italia, while New York-listed Steris Coorporation has 5.9%. Aurum and Cometa appointed Banca Akros (Gruppo Banco BPM) and DLA Piper as advisors.
QuattroR said it invested in Gruppo Elemaster, a mechatronics service provider that belongs to the Cogliati Family (see here a previous post by BeBeez). QuattroR subscribed to a capital increase and acquired a stake in the company that aims to grow through M&A ahead of a mid-term IPO. Roland Berger, KPMG and Simmons&Simmons assisted the buyers. The Cogliati Family retained Bridge Management & Co and Studio Barberi Bellini Rondinone Santaroni & Partners. Elemaster has sales of 327.7 million euros, an ebitda of 24 million and a net financial debt of 15.7 million
Gruppo Patelec, an Italian producer of electric cables, said it acquired a controlling stake in Phoenix Electronic System, an Italian competitor (see here a previous post by BeBeez). Intesa Sanpaolo provided a financing facility S-Loan and retained Advant NCTM as advisor. The bank will charge a lower interest rate upon the achievement of ESG targets. Banca Finnat and Studio Tonucci & Partners assisted Phoenix Electronic System. Studio Russo De Rosa and Studio Olivieri Associati advised Gruppo Patelec that has sales of 38 million euros, an ebitda of 1.4 million and a net financial debt of 3.5 million. Roberto Ziletti is the chairman of Gruppo Patelec.
BKNO, a franchisee of 18 Burger King restaurants that belongs to Blooming Group, said it acquired G&P Company, the owner of three fast food ventors of the same brand (see here a previous post by BeBeez). BKNO received assistance from Studio Legale Dentons and Deloitte. BKNO has sales of 25 million
Finspe, an industrial holding that belongs to the Spezzapria Family, acquired the majority of Compagnia Siderurgica, an Italian steel and iron company from ceo Dario Simonato (92.6%) and other minority shareholders (see here a previous post by BeBeez). Finspe retained LCA Studio Legale. Compagnia Siderurgica has sales of 58.6 million euros, an ebitda of 10.5 million and net cash of 7.5 million.
Vinci Energies Italia acqured CM Building Solutions (see here a previous post by BeBeez). Ethica Group and Portolano Cavallo assisted the vendors Andrea Cattaneo (75%), Antonio Crea (20%) and Marcello Bozzoni (5%). CM has sales of 12.7 million euros, an ebitda of 1.8 million and net cash of 2.9 million.
Quick Group, an Italian producer of accessories for the nautics sector that belongs to Armònia Italy Fund, Fondo italiano consolidamento e crescita (FICC – part of Fondo Italiano d’Investimento) and the Marzucco Family, said it acquired Nemo Industrie and Xenta Systems, two Italian competitors (see here a previous post by BeBeez). Stefano Bertazzoni (70%) and Lorenzo Mongiardo (30%) sold Xenta and reinvested for a minority of Quick. Xenta has sales of 4.2 million euros, an ebitda of 0.206 million and net cash of 0.135 million. Gianfranco Magalotti sold Nemo Industrie which has sales of 7.5 million, an ebitda of 2.6 million and net cash of 0.62 million. Rossini Advisory, Studio Piraccin and Studio Pinza assisted Nemo.
Gruppo Altofare, a producer of fashion accessories that belongs to White Bridge Investments, said it acquired Tacchificio Monti from the eponymous family that will reinvest in the buyer (see here a previous post by BeBeez). Crédit Agricole Italia, Intesa San Paolo, Banco BPM, BPER, and BNL financed the transaction and received assistance from Simmons & Simmons. Gruppo Altofare hired Giovannelli e Associati, Deloitte, Proj.Eco, Willis Italia, and KPMG. Tacchificio Monti, which retained Studio Partes and Partes Legal, has sales of 35 million euros, an ebitda of 5.2 million and net cash of 2 million.
Alessandro Marino (51%), Alexandre Tartara (30%), Gian Renzo Bazzu, and Massimo Curelli (9.5% each) sold 70% of Sardinia’s football team Olbia Calcio 1905 to Swiss Pro Promotion for less than 5 million euros, sources said to BeBeez (see here a previous post by BeBeez). Marino will keep his chairman role. MergersCorp M&A International acted as broker.
Arcadia and Marco Toscano signed a binding agreement for selling 18,92% of Chiorino Technology to G.M. Leather (see here a previous post by BeBeez). By the end of 2023, Chiorino will launche a capital increase of 1.85 million euros that the shareholders will subscribe for 1.5 million and G.M Leather for 0.35 million.
Auctus Capital Partners invested in Déco – The italian decking company, an Italian producer of indoor and outdoor coatings that belongs to Mattia Bambi, Lorenzo Caselli and Paolo Damiani (see here a previous post by BeBeez). Shearman & Sterling assisted the lenders Illimity Bank and Illimity Selective Credit. Ethica Group, Legance and CB Partners assisted the vendors. Auctus Capital Partners hired Roedl & Partner and Pedersoli. Déco has sales of 35 million euros.
Palladio Holding and a club deal of investors acquired 31% of Sonica, which owns 30% of RCF Group, a producer of audio systems and components, from Amundi Private Equity Funds (see here a previous post by BeBeez). Palladio Holding raised its stake in Sonica from 69% to 78% while BNP Paribas BNL Equity Investments and the other family offices that are part of the club deal will have above 19% of the asset. Palladio retained BonelliErede. Amundi appointed Legance Avvocati Associati. BNP Paribas BNL Equity Investments hired Gianni & Origoni.
Fondo Italiano Tecnologia e Crescita (FITEC), a vehicle of Fondo Italiano d’investimento, will invest 15 million euros for subscribing a capital increase of Skynet Technology, a provider of digital support for the fashion retail sector (see here a previous post by BeBeez). FITEC will buy a minority of the asset. Massimiliano Molese will act as ceo while the founders Riccardo Badii and Gianluca Bellantuono will head the administration and operation units. Fondo Italiano d’Investimento retained Russo De Rosa Associati (legal e tax due diligence), Grant Thornton (financial due diligence), ERM (ESG due diligence), and E&Y Parthenon (business due diligence). Skynet Technology hired Zephiro (Advisor), Angela Cutuli (legal due diligence) and Synergy Elaborazioni (financial and tax due diligence).
Radici Products, a chemical company of Verteq Capital, said it acquired the majority of Polis Termoplastici, an Italian competitor, from Andrea Reggiani that reinvested for a minority (see here a previous post by BeBeez). Banco BPM financed the transaction. Vertew acquired the asset in November 2022 from Luca Calabria, Felice Danesi, Simona Glisenti, and Roberta De Vecchi (25% each). Calabria and Danesi reinvested for a minority. Verteq and Radici Products hired Dentons, Nexia Audirevi and AON. Polis Termoplastici retained Euromerger, Gozzi-Pelloni and Ghermandi. Banco BPM hired Greco Vitali Associati.
Gruppo Star New Generation (Gruppo SNG), a company that belongs to Star Capital (70%) and the famiglia Marzioni (30%), acquired 80% of Ricami NBM from ceo Mauro Marzi (that kept a 20%), Giorgio Borelli and Nadia Nardi (see here a previous post by BeBeez). Ricami NBM is a manufacturer of embroidery for leading luxury brands and has sales of 6 million euros. The vendors retained Pedersoli Studio Legale, Studio Mantovani & Associati and Equita K Finance – Clairfield International. Star Capital appointed Deloitte, Studio Giliberti Triscornia e Associati, Studio De Luca & Partners, Pambianco, ERM, Essentia, and Russo De Rosa Associati.
Ethica Global Investments (EGI), a private equity – club deal vehicle that Ethica Group launched, said it sold Gruppo GIA (a producer of industrial components) to US-based DiversiTech Corporation, a portfolio company of Partners Group (see here a previous post by BeBeez). EGI acquired the asset in 2018 from Star Capital while the company’s ceo Fabrizio Pasquini reinvested in the company.
Boato International, an Italian chemical company, acquired troubled Italian lifts and elevators producer Sele through a judicial auction (see here a previous post by BeBeez). Francesca Gazzi (6.54%), Moreno Amadei (6.19%), Elio Rossi (6.19%), Covezzi Ascensori (6.14%), and other shareholders with 4% stakes sold their interets in Sele which has sales of 5.1 million euros, an ebitda of minus 0.858 million and equity of of minus 7.7 million
Giovanni Bozzetto, an Italian chemical company that belongs to Toronto-listed Aimia, said it acquired 65% of Honduras-based competitor Gruppo Starchem for 25 million US Dollars with a potential earn-out of 12.5 million (see here a previous post by BeBeez). The target’s management will keep a 35% stake. Giovanni Bozzetto will finance the transaction with its own credit lines and resources. Gianni & Origoni and Arias Law assisted the buyer. StarChem has sales of 48 million with a 12% ebitda margin.
Safety21, a software that belongs to BU (Bregal Unternehmerkapital), said it acquired 86% of Capacitas, a competitor with a focus on land reclamation, from Diego Chiuso, Stefano Montagner and Gianluca Sartori (see here a previous post by BeBeez). Safety21 retained Spada Partners and Orrick. Capacitas has sales of 1.2 million euros, an ebitda of 0.062 million and net cash of 0.31 million.
Giuriati Group, an Italian producer of food integrators that belongs to Gradiente since 2021, acquired Italian competitor Up Pharma (see here a previous post by BeBeez). Giuriati received assistance from Trim Corporate Finance, SAT Studio Legale, Sanzo Vascello, Orsingher Ortu – Avvocati Associati, Epyon Consulting, and Advant NCTM. The vendors retained BMMS Studio Legale. Orrick assisted the lenders Crédit Agricole Italia and Intesa Sanpaolo. Maurizio Celani, Roberto Regonati and Marzio Truffelli sold Up Pharma which has revenues of 8 million euros, an ebitda of 2 million and a net financial debt of 2.5 million. Giuriati has sales of 33.3 million, an ebitda of 3.4 million and a net financial debt of 9.5 million.
Affida Italia, an Italian online mortgages and loans broker, acquired Newfin (see here a previous post by BeBeez). Luigi Gifuni is the target’s founder. In 2023, Newfin provided loans for 50 million euros.
Fi.mo.tec (gruppo Fimo), an Italian producer of components for TMT infrastructures that belongs to Wise Equity since 2020, acquired US competitor Wanho (see here a previous post by BeBeez). Banco BPM and Crédit Agricole financed the transaction. Fimotec retained Benesch, Simmons & Simmons, PwC, and ERM. Wanho hired Lincoln and Gibson Dunn. David Elliott will keep his role as the target’s ceo. After such a transaction, Fi.mo.tec will generate sales of 100 million euros with a 20% ebitda margin.
On 14 November, Tuesday, Italian screws and fixers producer SBE – Varvit launched its IPO on Milan market after having raised 22.7 million euors (25 million with the greenshoe option) through a placement on 6 November, Monday (see here a previous post by BeBeez). SBE market capitalization and equity value are of 975 million.
The Net Asset Value of Milan-listed Italmobiliare for 3Q23 amounted to 2.068 billion euros (see here a previous post by BeBeez). The aggregate sales of the portfolio companies are of 418.5 million with ebitda of 66.7 million.
French B-Corp Private equity Abenex opened a bureau in Milan and appointed Antonio Catalli as head of the subsidiary (see here a previous post by BeBeez). Jacopo Bernezzo and Pietro Razzi joined the team.
