Press reports say that Fondo Strategico Italiano (FSI) aims to create an Italian player in the security and surveillance sector. The firm would take a stake in the company that would be born out of a merger of All System (in which Italy’s Private Equity Partners holds a minority since 2012), and Battistolli, a firm that belongs to the eponymous entrepreneur. Once completed the merger, the resulted entity would acquire Ivri, which the Basile family acquired through BIKS, a financial holding, in February 2014 for 65 million of Euros from financial firm 21 Investimenti (see here a previous post by BeBeez). BIKS owns security and surveillance companies Ksm, Sicurtransport, Sicurcenter, Saetta Trasporti and Argo. In November 2015, the holding launched a capital increase in the region of 60 million of Euros with the support of Unicredit and BPM.
Nuovo Trasporto Viaggiatori spa (Ntv), an Italian provider of railway transport announced to have dropped its ipo plans to accept the offer from US sponsor Global Infrastructure Partners (GIP) (see here a previous post by BeBeez). The Italian Antitrust authority must approve this transaction by 11 February. According to this bid, NTV enterprise value is of little less than 2.4 billion of Euros, of which the equity is of 1.94 billion of Euros and net debt is of 443 million of Euros. NTV vendor shareholders will receive 30 million of Euros in dividends. Ntv belongs to Intesa Sanpaolo (19.2%), Diego della Valle (17.4%), Generali Financial Holdings (14.6%), Peninsula Capital (12.4%), Luca Cordero di Montezemolo (12.4%), Gianni Punzo (8%), Isabella Seragnoli (5.8%), Flavio Cattaneo (4.9%), and Alberto Bombassei (4.9%). The current shareholders will be able to reinvest up to 25% of the proceeds of this sale at the same conditions at which GIP acquired the asset. GIP would hold in this case a 75% stake in NTV. Ntv revenues are of 454.9 million of Euros, with an adjusted ebitda of 155.7 million of Euros milioni di EBITDA rettificato and net profits of 33.8 million of Euros.
Fondo Italiano per l’Efficienza Energetica (FIEE), an Italian sponsor with focus on energy saving and efficiency, invested 33 million of Euros in City Green Light srl, the street lighting unit of Italy’s Gemmo. Other financial firms will invest up to 100 million of Euros in by August 2018 (see here a previous post by BeBeez). For 2018, City Green Light planned investments worth 45 million of Euros. Last year the company posted sales of 55 million of Euros and received orders of above 500 million of Euros. Gemmo belongs to the eponymous family since 1919. FIEE shareholders are Raffaele Mellone (a former managing director of Merrill Lynch) the firm CEO Andrea Marano (a previous executive of Enel Green Power), Fulvio Conti (formerly CEO of Enel), Maurizio Cereda (previously a board member of Mediobanca), and to Lamse (a financial holding of Andrea Agnelli). FIEE’s available equity is of 166 million of Euros.
Advent International, Bain Capital and Clessidra will split the activities of Nexi, an Italian provider of infrastructures and services for B2B digital payments, in two independent companies(see here a previous post by BeBeez). Nexi will handle securities and depository services. Mercury Payment Services (MPAS) will hold the activities related to payments. Nexi will also change its name. Such demerger will be completed by summer 2018 and it requires the authorizations of the relevant authorities. MPAS may list by 2020. The depository bank will have a financial debt-free equity of 600 million of Euros, it sill serve 120 client banks and handle transactions worth 460 million of Euros. International peers like SocGen Securities Services, Bnp Paribas Securities Services, and State Street may target this asset. In 2015 Advent International, Bain Capital and Clessidra invested 2 billion of Euros for buying the asset and a further 2 billion of Euros for acquistions of digital payments companies like the merchant acquiring units of MPS and Deutsche Bank in Italy, business process outsourcing Bassilichi and processing activities of Intesa Sanpaolo. Further bolt-on buys are under consideration. Paolo Bertoluzzo and Bernardo Mingrone, previously the CFO of Pioneer-Unicredit and Mps, will be in charge of the digital payments unit. Fabrizio Viola will chair the depository bank activities.