F2i will acquire 10% of NetCo, the infrastructure network of Milan-listed TIM, and join the pool of buyers that KKR heads and that received the golden power authorization (see here a previous post by BeBeez). F2i, the firm that Renato Ravanelli heads, will pour up to one billion euros in the asset that will also attract the resources of MEF-Ministry of Economy Finance (20%), KKR and Abu Dhabi Investment Authority (70%). Further press reports said that NetCo will also attract the resources of Canada Pension Plan Investment Board (CPP Investments) for a 17.5% of Optics HoldCo the acquisition vehicle of the bidders (see here a previous post by BeBeez).
Alpitour, an Italian tourism company of which Tamburi Investment Partners owns 59% and for which Goldman Sachs is acting as sale advisor, could attract non-binding offers by the end of February (see here a previous post by BeBeez). The asset is of interest to Certares, Spain’s Wamos, German TUI and two further undisclosed trade buyers. Market rumours say that Alpitour could be worth 1.3 – 1.5 billion euros.
Carlyle hired Rothschild as it is exploring options for Italian fashion firm Twinset, sources said to BeBeez (see here a previous post by BeBeez). In 2020, Carlayre hired JP Morgan for selling the asset, but called off the option for the coronavirus turmoil. Alessandro Varisco is the ceo of the Twinset which has sales of 227.3 million euros, an ebitda of 36.1 million and net cash of 40 million.
Investindustrial signed an agreement for acquiring a majority stake in Gruppo Fassi, an Italian enegineering company and cranes producer (see here a previous post by BeBeez). The Fassi Family will own a relevant minority of the company while Giovanni Fassi will keep his ceo role. Investindustrial will support the company for its international expansion. Unicredit, Intesa Sanpaolo (financial advisors and lenders), PedersoliGattai, Paul Weiss, Boston Consulting Group, PwC, Accenture, WSP & Golder, and Willis Towers Watson assisted the fund. Fassi retained CP Advisors, KPMG, Shearman & Sterling, Kearney, and Stantec. Fassi has sales of 281.9 million euros, an ebitda of 50.2 million and net cash of 36.3 million
Kiko Milano,an Italian cosmetic company that belongs to the Percassi Group, could attract the non-binding offers of Advent, Carlyle, L Catterton, and KKR on the ground of an enterprise value of 1.5 – 2 billion euros (see here a previous post by BeBeez). The company’s ebitda in 2023 is in the region of 130 million. In 2022, Peninsula Capital sold its 40% stake to Percassi. Simone Dominici, the ceo of Kiko Milano, said that by the end of 2023 the company aims to open a further 120 stores and generating sales of above 800 million with an above 100 millione ebitda.
US merchant bank BDT & MSD Partners is working on the merger of Italian producer of machinery for the packaging sector IMA and US competitor ProMach ahead of a NYSE listing by 2028, sources said to BeBeez (see here a previous post by BeBeez). The merged entity will generate more than 5 billion euros in sales. BDT recently paid 6.5 billion for a 49.8% of IMA while in May 2023 it acquired 50% of ProMach.
Entangled Capital said it acquired 70% of Tecnomaster, a producer of high-tech printed circuits, from the Pattaro Family (83.33%) and Thomas Michels (16.66%) (see here a previous post by BeBeez). The Pattaro Family will reinvest for a 30% of the asset which has sales of 14.8 million euros, an ebtida of 3 million and a net financial debt of 6.4 million.
VPK Group, a Belgium paper and packaging group, signed an agreement for acquiring 50% of Italian competitor Iemme from the Toso and Poggi Families (see here a previous post by BeBeez). VPK Group retained Gianni & Origoni while Rosso & Tirelli and Dottori Commercialisti Associati di Genova assisted Iemme which has sales of 40 million euros.
Pedrollo Group, an energy tech company and a producer of electropumps that belongs to the eponymous family, acquired a 70% of Italian competitor PM, sources said to BeBeez (see here a previous post by BeBeez). Translink Italy advised the buyers. Giulio Pedrollo, the ceo of the company, said to BeBeez that the managers of the target company will keep their role. PM has sales of 22 million euros.
Gruppo Collino di Acqui Terme, an energy company that belongs to the Bariggi and the Collino Families, sold its subsidiary Collino Commercio to Energia Pulita (a joint venture that Axpo Italia signed with Canarbino) while Getec Italia acquired the EsCo unit of Collino & C. (see here a previous post by BeBeez). Collino received assistance from Piero Marchelli, Luca Viarengo and Filippo Bisso. German Getec hired Simmons & Simmons.
German Nordmann acquired Italian competitor SD Chemicals from 88.2% owner Raffaele Cece, founder and ceo (see here a previous post by BeBeez). Proactiva Strategy M&A and FVF Associati assisted the vendors. Nordmann hired M&P, LMCR and Studio Biasin & Partners. SD Chemicals has sales of 18.3 million euros, an ebitda of 4 million and net cash of above 0.5 million
Kruso Kapital, an art lending subsidiary of Gruppo Banca Sistema, launched an IPO on Milan market on 24 January, Wednesday, and listed 15.29% of its equity for a 45.7 million euros market capitalization (see here a previous post by BeBeez). Banca Sistema now owns 70.59% of the company that also belongs to Fondazione Pisa (9.08%), Fondazione CR Cuneo (9.08%) and Fondazione CR Alessandria (5.41%) who subscribed a lock-up agreement of 12 months. Giuseppe Gentile is the coo of Kruso which launched an IPO through a capital increase that allowed the placement of 1.45 million new shares at 1,86 euros each. Kruso Kapital retained Alantra Capital Markets, BonelliErede and BDO Italia.
Gruppo Sapa, an italian producer of automotive components, acquired Dutch competitor Promens Zevenaar and Estonia’s Promens Rongu (see here a previous post by BeBeez). Banca Akros Oaklins Italy and BonelliErede advised Sapa. Berry Global retained Magma International and DLA Piper. After such deals, Sapa will generate more than 400 million euros in sales.
Holding Moda (Hmoda), an unit of investment firm Holding Industriale (Hind), acquired Emmetierre and its subsidiary Fast Pelle from ceo Fabio Tombelli (51%) and Stefania Romagnoli (49%) (see here a previous post by BeBeez). The targets produce components for bags and apparels. Hind retained KON Group, GOP, EY, and Bertacco Recla & Partners. Emmetierre and Fast Pelle hired Equity Factory and Laroma Jezzi & Partners. The target has sales of 4.1 million euros, an ebitda of 0.513 million and net cash of 0.655 million.
US software house for engineering Gamma Technologies (GT), a portfolio company of TA Associates, Cove Hill Partners and Insight Partners, acquired Italian competitor Powertech Engineering (PWT) (see here a previous post by BeBeez). After such a deal, Gamma Technologies, created GammaTech Engineering (GTE). LCA Studio Legale assisted the buyers while PWT retained Weigmann Studio Legale.
Xenon Private Equity acquired the majority of Kettydo+, a customer engagement and loyalty programs company, Hic Mobile, an AdTech and provider of mobile advertising services, UrbiStat, a geomarketing and market research player (see here a previous post by BeBeez). The fund will merge the companies with its portfolio asset BID Company and create Advanced Intelligence Generation (A.I.GEN.). The buyers received assistance from Greco Vitali Associati, Epyon Consulting, Belluzzo International Partners Studio Legale Tributario, M&C Saatchi, and Anthesis. Green Arrow Capital and Merito provided the financing. The vendors hired Cavour Corporate Finance and Cygni. A.I.GEN has aggregate sales of 25 million euros.
Fondo Italiano d’Investimento (FII) announced to have reached the 225 million euros closing for Fondo Italiano Agri&Food (FIAF) which attracted the resources of The European Investiment Fund (EIF), Intesa SanPaolo (cornerstone investors) and Eurizon Capital Real Asset (ECRA) ahead of a 300 – 350 million target (see here a previous post by BeBeez). In December 2022, FIAF attracted 130 million commitments from cornerstone investors CDP Equity and Milan-listed BF.
