Dutch group Vitol currently owns 51.12% of Milan-listed oil group Saras, on which it launched a delisting bid at 1.6 euros per share on 12 July, Friday (see here a previous post by BeBeez). Vitol extended the deadline for tendering to the public offer on Saras to 16 August, Friday. In February 2024, Vitol acquired 35% of Saras from the Moratti family at 1.75 per share based on an enterprise value of around 1.9 billion. Vitol currently owns 65.62% of the target (see here a previous post by BeBeez).
Ansaldo Energia, an Italian company of CDP Equity and Shanghai Electric Gas Turbine Hong Kong (0.43%) that manufactures power generation plants and components, announced on 2 August, Friday, the acquisition of 60% of Centro Combustione Ambiente from AC Boilers, part of Sofinter (a portfolio company of Mutares) (see here a previous post by BeBeez). Ansaldo Energia also said it sold 10 % of AC Boilers to Sofinter, which is now the sole owner of the company. BonelliErede advised Ansaldo Energia. Sofinter received support from PedersoliGattai.
DF Elettronica, a Gradiente‘s company active in Electronic Manufacturing Services (Ems), acquired Italian competitor Electronic Service from Dario Trentini (80%) and Brunhilde Knapp (20%) (see here a previous post by BeBeez). Trentini will retain his role as CEO. Crédit Agricole financed the transaction and received support from Dentons. Electronic Service received assistance from Scouting Capital Advisors, Foschini Pagani Law Firm and Studio Gobbi Malossini Zampiccoli Commercialisti Associati. VGN Studio Legale, Epyon Consulting, Belluzzo International Partners, Ramboll and Advant NCTM assisted DF Elettronica. Electronic Service has a turnover of more than 10 million euros
MTD Medical Technology and Devices Group, a medical device manufacturer that Investindustrial and QuattroR own, acquired the pen needle and glycemic monitoring device (BGM) businesses of Frankfurt-listed Ypsomed (see here a previous post by BeBeez). Charles Bouaziz is the ceo of MTD, which received assistance from LCA.
QuattroR announced the first closing of the raising of its new private equity fund QuattroR MidCap without disclosing its size. Mediocredito Centrale committed to a 10 million euros investment (see here a previous post by BeBeez). QuattroR’s management team signed a fundraising commitment that has a target of 250 million euros. QuattroR received assistance from Alma LED
PA Group, a company resulting from the integration of PA ABS and PA Expertise, IT service providers, Microsoft and SAP, rebranded as Alveo (see here a previous post by BeBeez). Earlier in June, Alcedo, the management, FVS, Friulia and Clessidra Capital Credit acquired the company from Retelit, an asset of Asterion Industrial Partners and Marguerite. Alveo has a turnover of over 63 million euros and aims to grow through acquisitions.
Equita Smart Capital Eltif announced the acquisition of a majority stake in the international women’s luxury shoe makers Everyn from Massimo Pelagotti and Calzaturificio Maruska from Fabrizio Tempesti (see here a previous post by BeBeez). The sellers reinvested for a significant minority in the new group and will retain their operational roles. Anthilia Capital Partners and Green Arrow Capital financed the transactions. Equita Capital received assistance from ADVANT Nctm, Spada Partners, EY Parthenon and ERM. Everyn and Maruska shareholders received support from Oliva&Simon and Claudio Matteoli. Anthilia Capital Partners and Green Arrow Capital received support from L&P Partners. Everyn has a turnover of 9.5 million euros, an ebitda of about 0.130 million and a net financial debt of 5.6 million. Calzaturificio Maruska has 12.3 million in revenues, an ebitda in the region of 0.425 million and a net financial debt of 3.7 million. Before this transaction, Everyn belonged to Massimo Pelagotti, David Pelagotti and Francesco Baldini (33.3% each). Calzaturificio Maruska instead belonged to Claudio Tempesti and Fabrizio Tempesti.
Azzurra Capital and the Pasquini family will invest in Lucart, the multinational paper producer that owns the consumer goods brands Tenderly and Tutto (see here a previous post by BeBeez). Massimo Pasquini is the CEO of Lucart, which signed a binding agreement to sell a strategic stake to Azzurra Capital. The Pasquini family will remain actively involved in the operational management and received assistance from Lincoln International, ADVANT Nctm, PwC Italy and Studio Biscozzi, Nobili & Partners. Azzurra Capital received support from Goldman Sachs, IMI, Gianni&Origoni, Alvarez & Marsal, Andersen and Ramboll. Lucart has a turnover of 765 million euro and an ebitda of more than 130 million.
Investindustrial announced the acquisition of a minority stake in RCF Group, a manufacturer of professional audio and public address systems and products that owns the RCF and dB Technologies brands (see here a previous post by BeBeez). Arturo Vicari and Alfredo Macchiaverna will keep their roles as CEO and chairman of the board. Prior to this transaction, RCF belonged to Vicari (37.37%), Bookers (21.39% – a vehicle of which Macchiaverna has 77.27% and Anna Rita Casoni has 22.73%), finance director Remo Morlini, Sonica (5.41%), a club deal of investors that included BNP Paribas BNL Equity Investments and family offices, and other minority shareholders. Banca Nazionale del Lavoro, Banco BPM, BPER Banca and Crédit Agricole Italia financed Investindustrial, which also received assistance from UBS Europe. Mediobanca advised the sellers.
Finance For Food spa società benefit (FFF), an industrial and strategic consulting company specialising in the entire agri-food industry and related sectors of agro-industry and renewable energy, launched its initial public offering on Milan market on 7 August, Wednesday, with a market capitalisation of around 12.8 million euros (see here a previous post by BeBeez). FFF placed 851,400 shares to institutional investors for 2.04 million in a capital increase at a price of 2.4 euros per share. EnVent Italia sim, MAMA Advisory, Maviglia & Partners, Deloitte, SCPTAX and MIT SIM advised FFF, which now belongs to Paolo Bordi, Silvia Bordi and Alessandro Merenda (51.87% – 75, 12% of voting rights), Francesco Gianni (15.79% – 8.16%), Spag (7.1% – 3.67%), Lefin Holdings (4.67% – 2.42%), other shareholders (4.66% – 2.41% of voting rights), and the market (15.91% – 8.22%).
Mondadori, a Milan-listed publishing group, said it will buy a 10% stake in Adelphi Edizioni from current 23.88% owner Josephine Calasso (see here a previous post by BeBeez). Mondadori and Calasso signed reciprocal put/call options on a 10% stake in Adelphi Edizioni. Calasso received assistance from La Scala, PedersoliGattai supported the Mondadori Group.
Altea Federation, a management and IT group consulting that Chequers Capital owns since 2023, acquired Elicat (see here a previous post by BeBeez). Between October 2023 and July 2024, Altea also acquired 2WS- 2Win Solutions, Inquaero and Oobe-XR. Andrea Ruscica is the CEO and founder of Altea, which is interested in further acquisitions and has a turnover of 153.6 million euros, ebitda of 10.8 million euros and net debt of 22 million.
Next Geosolutions Europe (NextGeo), a marine geoscience company providing support services for construction and offshore plants, said it invested 0.530 million euros in the acquisition of Subonica, a company that supplies underwater surveying and inspection services using remotely operated robotic vehicles (ROVs) (see here a previous post by BeBeez). Marnavi, listed on Milan, owns 51.08% of NextGeo, which financed this acquisition with its own resources. Giovanni Ranieri is the CEO of NextGeo
Trime, a manufacturer of mobile construction light towers that 21 Investments owns since 2022, announced the acquisition of a majority stake in Australia’s competitor PR Power (see here a previous post by BeBeez). Hogan Lovells and KPMG assisted Trime. Palisade Corporate advised PR Power. Trime has a turnover of 115 million euros, ebitda of 18.6 million and net cash of 11.7 million.
Sources said to BeBeez that KGAL Investment Management acquired a majority stake in SEO Holding, owner of four BESS (Battery Energy Storage System) storage projects in Italy, with a capacity of about 1.1 GW (see here a previous post by BeBeez). Green Horse Financial Advisory and Green Horse Legal Advisory assisted the buyers. SEO Holding received support from Giovanni Sicari.
Italian Fine Food, a vehicle of AVM Gestioni, acquired 80% of Stefania Calugi Tartufi (SCT), a producer of truffle-based condiments. Banca del Fucino financed the transaction with an unsecured loan (see here a previous post by BeBeez). Auditores Italy, Studio Alfuor & Associati, LCA Studio Legale and Hoshin Corporate Finance assisted AVM Gestioni. Simone Bonacchi and Studio Gelmetti assisted the vendors. SCT has a turnover in the region of 6.5 million euros and an ebitda of approximately 1.2 million
Compagnia Valdostana delle Acque – Compagnie Valdotaine des Eaux (CVA), a group active in the green energy sector that belongs to the Norther Italian Autonomous Region Valle d’Aosta, acquired from Solar 2.0 a portfolio of 18 photovoltaic projects, totalling 59 MW, of which 22 MW are operational, 7 MW are under construction and 30 MW are under development (see here a previous post by BeBeez). Fieldfisher Italy, Pwc and Pwc Strategy assisted Cva. Parola Associati advised Solar Ventures.
Xenon FIDEC (Fondo Italiano per la Decarbonizzazione e l’Economia Circolare) acquired Opus Automazione and TAE Trentina Applicazioni, two companies active in the construction and wholesale of electronic and electroacoustic equipment and water and gas leak detection (see here a previous post by BeBeez). Lca assisted Xenon Fidec. Rivolta & Tognozzi advised Opus. Lambertini & Associates assisted Tae. Xenon FIDEC will integrate these companies into Orion, a hub of the environmental engineering sector with an aggregate turnover of more than 50 million euros. Prior to this transaction, Opus Automazione’s owners were Stefano Batistini (34%), Ines Brbic (22%), Gabriele Caviccioli (22%), and Simone Gabricci (22%). TAE Trentina Applicazioni Elettroniche on the other hand belonged to Marco Citroni (50%), Franco Dalbosco (48.67%) and Francesca Citroni (1.33%).
Eagleprojects, a provider of end-to-end engineering solutions that belongs to Palladio Holding since 2023, acquired the competitors DEWI and UK’s iWED from the ceo Dewi Rogers that will keep his role (see here a previous post by BeBeez). After such transactions, Eagleprojects will have aggregate revenues of above 50 million euros and will consider further acquisitions.
Simet Soluzioni Energetiche (SSE), a provider of energy efficiency services Northern Italians local goverment institutions that belongs to Pioneer Infrastructure Partners, acquired the public lighting business unit of Global Power Service which handles 11 municipal concessions that will last for more than 10 years (see here a previous post by BeBeez). Pioneer Infrastructure Partners is a vehicle compliant with the SFDR Article 9 and has resources of 575 million euros. Gianni&Origoni assisted the buyers. Global Power Service has sales of 15 million, an ebitda of 0.68 million and a net debt of 3.73 million. The company retained Pirola Pennuto Zei & Associati for such a transaction
