Milan-listed Salcef Group, a producer of components for railways infrastructures that in 2019 carried on a business combination with Italian Spac Industrial Stars of Italy 3 (a vehicle that Giovanni Cavallini, Attilio Arietti, Davide Milano, and Enrico Arietti launched), attracted a delisting offer of MSIP-Morgan Stanley Infrastructure Partners (see here a previous post by BeBeez). Finhold, which owns 64.77% of the target, signed a binding agreement with MSIP ahead of the launch of a 26,55 euros per share (cum dividendo) offer on the ground of an equity value in the region of 1.62 billion euros (including the net dividend). Banca Akros said that Salcef Group is worth 30 euros per share, while Intermonte said that the price should be 30,4 euros per share. However, both the reports concluded that the majority shareholders have the governance power for delisting the company at the conditions that they agreed with MSIP. Finhold received assistance from Gianni&Origoni, while MSIP retained Morgan Stanley, Banca Finint and White & Case.
On 22 April, Monday, Italian food company Lavazza said it signed a binding agreement for acquiring and delisting Milan-listed vending machine firm IVS Group (IVSG) (see here a previous post by BeBeez). Lavazza will launch a public offer at 71,5 euros per share on IVSG of which it already owns 20%. ECS, Torino 1895 Investimenti, Grey sarl and majority owner IVS Partecipazioni will tender to Lavazza offer for 28.36% of IVSG for a deal that could be worth up to 185 million.
Italian packaging company Guala Closures, a portfolio company of Investindustrial, said it acquired Astir Vitogiannis Bros, a Greek closures maker, from Athens-listed Ideal Holdings (see here a previous post by BeBeez). Stelios Vitogiannis, the target’s ceo, will reinvest in Guala Closures and report to Mauro Caneschi, the buyer’s ceo. The transaction may close in 2H24 on the ground of an enterprise value of 136 million euros. Guala Closures received assistance from BonelliErede, Bernitsas Law Firm, beLab and Bowmans Law. Reed Smith assisted Astir which has sales of 75 million and an ebitda of 19 million.
Sources said to BeBeez that Sofinter, a troubled Italian industrial company of which India’s Gammon owns 67.5%, signed a binding agreement for selling a majority stake to German Mutares SE&Co KGaA on the ground of an enterprise value of 55 million euros (see here a previous post by BeBeez). The sources said that Gammon kept a 10% and sold the majority of its stake to Mutares which also invested in the target’s 12 million capital increase. Sofinter will also receive a mid-long-term from Milan-listed Illimity Bank, press reports said. The deal already received the golden power approvoal. Mutares hired Legance , Luther, Wolf Theiss, AZB, Amereller, Al Tamimi, and Pillsbury Winthrop Shaw Pittman. Gattai, Minoli Partners and Vitale assisted Sofinter.
Sipral Padana, a producer of food ingredients that belongs to Bravo Capital Partners (BCP), said it acquired Creami, an Italian competitor (see here a previous post by BeBeez). Banco BPM financed the transaction and retained VGN Lex. Sipral received assistance from Advant NCTM, Accuracy, Becap, and Public Notary Pantè. Creami hired Studio Magni. After such an acquisition, Sipral will have sales of above 40 million euros.
Dual Europe, part of international Insurer Howden Group, acquired the Genoa-based marine team and the binding authority to underwrite risks on behalf of Swiss Re of Swiss Re (see here a previous post by BeBeez). Howden belongs to HG Capital (21.5%), General Atlantic (21.5%), Canada’s Caisse du Depot et Placement du Quebec (21.5%), and the managers (33.5%). The buyer received assistance from Norton Rose Fulbright while DLA Piper assisted Swiss Re.
Made in Italy Fund, a private equity that Quadrivio & Pambianco manages, acquired 51% of fashion brand Filippo De Laurentiis from the Ferrante Family that will reinvest for a 49% (see here a previous post by BeBeez). Finerre, Studio Legance – Avvocati Associati and Bernoni Grant Thornton assisted the buyers. Filippo De Laurentiis has sales of 17 million euros and an ebitda of 3.2 million.
Labomar, an Italian nutraceutical company that the ceo Walter Bertin and Charterhouse delisted from Milan market in 2023, has sales of above 100 million euros and aims to grow through M&A , insieme al fondo (see here a previous post by BeBeez). Bertin said that the company may carry on acquisitions in Europe and North America. Antonio Di Lorenzo is a partner of Charterhouse.
Nextalia, the financial firm that Francesco Canzonieri founded, launched Nextalia Capitale Rilancio (NCR) for investing in equity and hybrid instruments (see here a previous post by BeBeez). Francesco Rigamonti, Giovanni Fregnan and Roberto Pisa are vehicle’s senior partners while Lorena Ponti and Valentina Roggiani are the partners. NCR attracted resources of 100 million euros from an unnamed investor, but rumours say that the limited partner could be CDP.
Capital Dynamics, a Swiss-British financial investor with 14 billion Dollars of assets under management, said it aims to increase its exposure to pension funds of smaller size and sell them secondary private equity products, ceo Martin Hahn said to BeBeez (see here a previous post by BeBeez).
Di Luccia & Partners Executive Search appointed Zeno Pellizzari as senior partner and Head of M&A (see here a previous post by BeBeez). Domenico Di Luccia, the managing partner of Di Luccia & Partners Executive Search, said that Pellizzari will be help the firm for its organic and M&A growth in Italy, USA and UK. Pellizzari previously worked as head of mergers&acquisitions of Italian publisher Mondadori International, Barclays and as ceo of B Heroes.
