On 19 September, Thursday, at Golf Club Monticello (Via Alessandro Volta, 63 20070 Cassina Rizzardi – Como) it will take place the first edition of Di Luccia & Partners Golf Cup for which BeBeez will act as media partner. The invitational event has the Stableford format and is for private equity professionals and executives of portfolio companies. Write at golf.cup.2024@diluccia.com for sign up and receive the full programme.
Ardian and Crédit Agricole Assurances agreed to sell Cavour Aero, the owner of 49 % of 2i Aeroporti (of which F2i has 51 %), to Asterion Industrial Partners, as BeBeez anticipated on July 12, Friday (see here a previous post by BeBeez). Several sources confirmed to BeBeez that the value of the transaction is of 800 – 900 million euros. Mediobanca, Intesa Sanpaolo and Credit Agricole CIB advised the sellers. EY supported Asterion, of which Guido Mitrani is a founding partner. Rosario Mazza is the head of infrastructure italy and senior managing director of Ardian.
Dolomiti Energia Holding, an Italian multi-utility, will invest 401.5 million euros to acquire from Macquarie Infrastructure a 40 % stake in HDE-Hydro Dolomiti Energia of which it already owns 60% (see here a previous post by BeBeez). The closing of the transaction could take place by 3Q24, subject to the granting of Antitrustclearance and the successful completion of the Golden Power procedure. Macquarie’s stake in HDE previously attracted the interest of Equitix, Tages Capital, La Finanziaria Trentina and their co-investors, including Caritro-Fondazione Cassa di Risparmio di Trento e Rovereto.
On July 16, Tuesday, Unieuro, the Milan-listed consumer electronics retail chain, said it received a takeover bid at 12 euros per share (equity value of 249 million euros) from Paris-listed competitor FNAC Darty and Ruby Equity Investment (part of VESA Equity Investment that Daniel Křetínský and Patrik Tkáč head) (see here a previous post by BeBeez). The investment vehicle that will launch the public offer will belong to FNAC Darty (51 %) and Ruby Equity Investment (49 %). At the close of trading on July 16, Tuesday, Uniero’s capitalization was of 170.6 million. Buyers will pay 9 euros per share in cash and 0.1 in shares of new issuance of FNAC Darty (3.02 euros, based on FNAC Darty’s July 15, Monday, closing price). Ruby (two-thirds) and FNAC Darty (one-third) will finance the cash component of the bid (75 % of the total). FNAC Darty will issue about 2 million shares (6.6 % of share capital after the transaction) for 25 % of the equity component of the offer.
Guala Closures, an Italian packaging manufacturer that belongs to Investindustrial, acquired 30 % of Guala Closures DGS Poland, of which it had already acquired 70 % in 2011 from Polish Enterprise Fund, Krzysztof Grzadziel and other shareholders for 51 million euros (see here a previous post by BeBeez). Grzadziel, will remain in DGS as chairman. Gabriele Del Torchio and Mauro Caneschi are the chairman and chief executive officer of Guala Closures.
Investindustrial signed a binding agreement to acquire Delta Tecnic, a Spanish chemical company, from founders Salvador Torras and Martí Baqués and other minority shareholders without disclosing the deal value that CaixaBank and Santander financed (see here a previous post by BeBeez). Investindustrial received assistance from Advancy, Dokei, IAC, Freshfields, PwC, Creel, Uría Menéndez, Marsh and Ramboll. The sellers retained Banco Sabadell and Tax Barcelona Advocats i Economistes. Delta Tecnic has sales in the region of 60 million euros (70 % abroad) and wants to make acquisitions in Europe, North America, and Asia, Investindustrial said.
L Catterton Europe will increase its stake in Etro, an Italian fashion company that belongs to the eponymous family, through the subscription of a 1.73 million euros capital increase (see here a previous post by BeBeez). Etro shareholders achieved this decision on June 26, Wednesday (see here the meeting notes available for the subscribers to BeBeez News Premium and BeBeez Private Data). Fabrizio Cardinali is ceo of Etro, which has revenues of 280.1 million, negative ebitda of 5.2 million, a net loss of 23.6 million, net financial debt of 7.3 million, and equity of 75.4 million
Wateralia, a manufacturer of pumps for the integrated water cycle that belongs to Ambienta, acquired Calpeda Pumpen, a German distributor of water pumps that Bernhard Vath founded (see here a previous post by BeBeez). Federico De Angelis is the ceo of the Wateralia group and said the company is interested in making further acquisitions. Wateralia has sales of about 300 million euros. Ambienta also hired 15 new professionals for its bureaus in Milan, London and Munich (see here a previous post by BeBeez). Linus Lenhard and Daniela Kastner are new partners in the Private Equity division in Munich. Magnus Spence is Ambienta’s new Head of Public Markets in London, where Herman Hannisdal will also work. Federico D’Addario, James Swainston and Lawrence Mayne joined the Risk Management team. Andrea Panzeri is the new Head of Risk Management in Milan where Francesco Padovani will also work as Investment Manager. Nino Tronchetti Provera is the founder and managing partner of Ambienta.
Gruppo Montenegro, an Italian producer of spirits and food that belongs to the Seragnoli family, acquired Pampero, a Venezuelan rum brand, from Diageo, a competitor listed on London Stock Exchange and New York Stock Exchange (see here a previous post by BeBeez). John Kennedy is Diageo’s president for Europe. Sergio Fava is chief executive officer of Gruppo Montenegro, which received support from Dla Piper and has sales of 328.8 million euros, ebitda of 30.5 million, and net cash of 42.5 million
Sources said to BeBeez that Saverio Merlo, ceo and 50 % owner of Akronos Technologies, acquired half of the company and its subsidiary Sky Technology from the Cravero family. Renato Cravero and Andrea Cravero signed a non-compete agreements (see here a previous post by BeBeez). Merlo received assistance from Studio Carbone D’Angelo Portale Purpura, Studio Franco, Galetto & Associati and Anteos Capital Advisors. Banca Cassa di Risparmio di Savigliano financed the transaction. The company said it plans to grow through acquisitions. Akronos has revenues of 13.5 million euros, an ebitda of 0.860 million and net cash of 0.167 million.
AIFI (the Italian Association of Private Equity, Venture Capital and Private Debt) confirmed Innocenzo Cipolletta and Anna Gervasoni in their roles as chairman and general manager (see here a previous post by BeBeez). The members of the new board of directors who will serve for the next three years are: Davide Bertone, Giancarlo Beraudo, Grazia Borri, Valerio Camerano, Fabio Canè, Enrico Canu, Massimiliano Caraffa, Giovanna Dossena, Barbara Ellero, Amedeo Giurazza, Filippo Guicciardi, Philippe Minard, Gianandrea Perco, Eugenio Preve, Agostino Scornajenchi, Paola Tondelli, Marco Tugnolo, Luigi Vagnozzi, Stefano Zavattaro, and Matteo Zenari.
Fratelli Piacenza, the textile company that owns the Lanificio Fratelli Piacenza and Piacenza 1733 brands, wants to grow through acquisitions (see here a previous post by BeBeez). Vasiliy Piacenza, brand manager director of Piacenza 1733, did not add further details. Fratelli Piacenza has sales of 88.7 million euros, ebitda of 15.1 million, with a margin of 17.7 % and net income of 8.7.
ProA Capital acquired the BAT Group, a manufacturer of sun protection systems that owns the BAT and KE branda, from the Barbieri family (see here a previous post by BeBeez). Anima Alternative, Banca Ifis, Banca Monte dei Paschi di Siena, Banca Sella, Banco Bpm, Crédit agricole Italia, illimity Bank, and Intesa Sanpaolo, financed the transaction. Prior to the sale to ProA, BAT’s major shareholders were Klavill Holding (42.29%), Anna Maria Tamai (17.36%), Cheti Barbieri (13.85%) and Emanuela Barbieri (13.85%). ProA Capital received support from Legance, EY, Duane Morris, Lek and Capital Appraisal. The Barbieri Family received assistance from Unicredit, De Checchi and Grimani e Pesce. Dentons assisted the lenders.
Cassa Depositi e Prestiti spa appointed 11 new members of the new board of directors, which will serve until the date of approval of the financial statements as of 31 December 2026 (see here a previous post by BeBeez). Giovanni Gorno Tempini (chairman) and Dario Scannapieco (ceo) will retain their roles. CDP also appointed board members Matilde Bini, Maria Cannata, Luisa D’Arcano, Valentina Milani, Flavia Mazzarella, Stefano Cuzzilla, Francesco Di Ciommo, Luigi Guiso, and Giorgio Lamanna.
Il Borro Tenuta Agricola acquired Pinino Società Agricola, a producer of Brunello and Rosso di Montalcino wines. Press reports say that the deal is worth 10-12 million euros (see here a previous post by BeBeez). The Hernandez and Gamon families sold Pinino after they acquired it in 2003. The target has revenues of 0.747.5, million with 0.72.2 million in ebitda and 3.2 million in net debt. Tenuta Agricola Il Borro has 20.1 million in revenues, 3.9 million in ebitda, and 26.4 million in net debt.
Soobeat Media, a media company of EV Capital, acquired Telecittà di Vigonza, an Italian local TV broadcaster. Patrizia Vassallo will retain her role as editorial director (see here a previous post by BeBeez). Sources said to BeBeez that Telecittà will increase its programming offerings as a result of this deal. Andrea Zanella is the managing director of EV Capital.
