Germany’s cunova, a producer of high end copper alloys for the maritime, industrial and energy sector of which Italian KME SE (KME Group) has has 45%, acquired KME Aerospace ahead of a NYSE listing (see here a previous post by BeBeez). German cunova signed for a business combination with US Spac SEDA-SDCL EDGE Acquisition Corporation. After such a transaction, KME SE will convert its 45% of cunova, get 20 million US Dollars in cash and 60.1% of the merged entity. Paragon Partners will sell its 55% of cunova for cash and may also provide a vendor loan that KME SE will support with up to 35 million. The combined company may have an enterprise value of 736 million, net debt of 289 million and an equity value in the region of 447 million. The enterprise value of cunova and KME Aerospace amounts to 79 million.
Made in Italy Fund, a vehicle of Quadrivio & Pambianco, is close to selling a 50.01% of Italian sneakers producer Autry to Style Capital (see here a previous post by BeBeez). The transaction could be worth in the region of 300 million euros. Made in Italy Fund will reinvest for 8% while the Doro Family will keep a 42%. Mediobanca and JPMorgan acted as advisors. Sources said to BeBeez that the transaction is at advanced stages. Autry has sales of 84.6 million, an ebitda of 22.6 million and net cash of 6.7 million. Roberta Benaglia is the ceo of Style Capital.
Frankfurt-listed Mutares signed an agreement for acquiring Temakinho, an Italian chain of Brazilian-Japonese restaurants, from Cigierre – Compagnia Generale Ristorazione, a portfolio company of BC Partners which paid 20 million euro for a 60% of the asset in 2018 (see here a previous post by BeBeez). The closing may take place in 1Q24. Temakinho has sales of above 21 million, an ebitda of minus 1.2 million, a net debt of 10.2 million, and equity of minus 7.2 million.
Telis Energy, a renewable energy company that belongs to Carlyle, opened Telis Energy Italy with the aim of developing a 3GW pipeline of hybrid and energy accumulation projects by 2030 (see here a previous post by BeBeez). Telis Energy Italy on Battery Battery Energy Storage System (BESS).
Italy’s Zanichelli Meccanica (Zacmi), an Italian packqging company, sold to US competitor ProMach, a portfolio company of Leonard Green & Partners and BDT Capital Partners (part of BDT & MSD Partners) which reportedly acquired 45% of Italy’s IMA from BC Partners (see here a previous post by BeBeez). The merger of IMA and ProMach may create a 5 billion euros player to list on Wall Street by 2028. Zacmi’s chairwoman Caterina Pagani will keep her role after having sold 71.07% of the company while current ceo Giorgio Boselli will act as vicechairman and coo. The vendors received assistance from Cavour Corporate Finance and LS Lexius Sinacta. Pro Mach retained Advant-Nctm, Thompson Hine, KPMG, and EY.
Xenon Fidec (Fondo Italiano per la Decarbonizzazione e l’Economia Circolare) acquired STA- Società Trattamento Acque, an Italian water treatment company that Stefano Speziali, Giuliano Fontanesi, Luca Mancini, and Enrico Moschini founded (see here a previous post by BeBeez). The buyers received assistance from LCA, Goetzpartners and Epyon. Deloitte Legal advised the lenders. The vendors hired Cosmolegal Group. Xenon Fidec reportedly raised 90 million euros ahead of a final target of 120 millioni. Speziali and Fontanesi will head the company that will merge with Xenon Fidec’s Simpec, CID and NTW and generate aggregate sales of 90 million.
Itelyum, an Italian waste management company that belongs to Stirling Square Capital Partners and Deutsche Beteiligungs AG (DBAG), acquired a relevan stake of Plasta Rei (see here a previous post by BeBeez). Marco Codognola is the ceo of Itelyum which has sales of 570.1 million euros and an adjusted ebitda of 105.5 million.
Dea Capital Alternative Funds‘ Flexible Capital hired Pirola Corporate Finance for selling its 18% of Costa Edutainment (see here a previous post by BeBeez). The asset attracted the interest of Trilantic Europe, Triton Partners and Looping (a trade buyer that belongs to PAI Partners). Costa Edutainment has sales of 81 million euros and an ebitda of 25 million.
Tre Zeta Group, a poducer of shoe soils whose majority belongs to Koinos Capital since December 2021, acquired Tacchificio Pienne from the Palazzini Family,ceo Roberta Nistri and Raffaella Calò (see here a previous post by BeBeez). Tre Zeta Group retained Russo De Rosa Associati, Alpeggiani Studio Legale, Bernoni Grant Thornton, and Ramboll. Tacchificio Pienne has sales in the region of 8 million euros, an ebitda of 1.9 million and net cash of 0.281 million.
Taste of Italy 2, a vehicle of DeA Capital Alternative Funds, acquired 55% of Avantea, a laboratory of advanced technology for animal reproduction and biotech research (see here a previous post by BeBeez). Giovanna Lazzari and Cesare Galli will keep a 45% of the business and their roles as R&D directors. BPER originated and financed the transacion. Legance, UBSKearney, Nexus Avvocati e Commercialisti, and LCA advised the vendors. Advant NCTM, Fineurop Soditic, Alvarez & Marsal, LifeScience Consultants, Russo De Rosa Associati, and ERM assisted the buyer. Avantea has sales of 9.6 million euros, an ebitda of 6 million and net cash of 2.4 millioni.
Alcedo acquired 60% of Edea, a producer of ice-skates, from Sabrina Merlo that kept a 40% of the business and the role of chairwoman and ceo (see here a previous post by BeBeez). Deloitte Legal assisted the buyer. Merlo retained Studio Sàndali Iadanza Battistella e Associati. Shearman & Sterling assisted Cassa Centrale Banca for the financing of the transaction. Edea has sales of 14 million euros, and ebitda of 5.2 million and net cash of 8.2 million.
Italian martech Jakala, a company of which Ardian owns 60% since February 2021, said it acquired GotU, a digital advertising company (see here a previous post by BeBeez).
Alcapem, a developer of infrastructure and industrial systems, sold to competitor Gruppo Ikos, a portfolio company of Abenex Capital since 2018 (see here a previous post by BeBeez). Alcapem previously belonged to ceo Carlo Clerici (35%), Aldo Zava (35%), Andrea Colombo (15%), and Bruno Falzea (15%). The firm has sales of 1.2 million euros, an ebitda in the region of of 0.22 million, a net debt of 0.083 million, and equity in the region of 0.288 million
British private equity Perwyn said it will open a bureau in Milan that Paris-based partner Mathieu Antonini and investment director Maxime Menu will head (see here a previous post by BeBeez). Perwyn will target Italian SMEs for majority and minority stakes.
