Fondo Italiano d’Investimento (FII) may launch by 2020 a fund for investing in minorities of Italian mid-market companies, said the ceo Carlo Mammola (see here a previous post by BeBeez). CDP will act as cornerstone investor.
Milan-listed asset manager Azimut aims to pour in the real economy ten billion euros in five years through Azimut Libera Impresa (ALI) (See here a previous post by BeBeez). Pietro Giuliani is the chairman of Azimut; Paolo Martini and Marco Belletti are the chairman and ceo of ALI, a platform for liaising corporates with private capitals.
Italian private banking firms are increasingly offering alternative investments products to to their clients, said Giovanni Andrea Incarnato, Italy Wealth & Asset Management Leader at EY, while presenting the Global Wealth Management Report that the auditing and advisory firm produced with Aipb, the Italian association of Private Banking firms (See here a previous post by BeBeez). Hnwi and Uhnwi are showing a keen interest in private equity investments. Antonella Massari, the secretary of AIPB, previously remarked this trend when she has been part of a BeBeez panel about private capital investments for private banking.
More than a half of excellent Italian companies said that they could accept new shareholders for expanding internationally, said the 11th Report about SMEs of consultancy firm Global Strategy (see here a previous post by BeBeez). Antonella Negri-Clementi is the chairman and ceo of Global Strategy and presented the report together with Andrea Sironi, the chairman of Borsa Italiana; Giorgio Vio, ceo of Credit Suisse Italia; Stefano Nuzzo, an equity partner of Global Strategy. The report pooled 60,000 companies with a turnover of above 5 million euros. Global Strategy found 722,000 excellent companies posting a growth rate above the average of their competitors.
Milan-listed packaging company Guala Closures is again of interest to new investors as the price of its stock is still depressed. US peer Silgan Holdings and private equity funds Astorg and Advent International, are said to be studying the dossier among others (see here a previous post by BeBeez). The company has sales of 520-535 million euros and an adjusted ebitda of 105-109 million.
NYSE-listed soft drinks giant Coca Cola signed a preliminary agreement for acquiring mineral water brand Lurisia for 88 million euros (see here a previous post by BeBeez). IdeA Taste of Italy, Eataly, and the Invernizzi Family sold the asset. Piero Bagnasco will keep his role as the company’s chairman and ceo, and Alessandro Invernizzi will remain in the company’s board.
Italcanditi, an Italian producer of ingredients for the production of sweets that belongs to Investindustrial, acquired 70% of Italian competitor Prodotti Rubicone from the company’s ceo Alessandro Cioccolini who kept 30% of the business (see here a previous post by BeBeez). Italcanditi has sales of 105.7 million euros with an ebitda of 18.1 million.
Italy’s troubled car dealer Koelliker sold its banking liabilities to CarVal Investors that collaborated with operating partner Celtic Asset Management, an Investment boutique that Giacomo Sonzini and Mario Vernazza founded (see here a previous post by BeBeez) . Koelliker’s non-core real estate assets now belong to CarVal Investors. Club Deal Car, a pool of investors that Canova leads, acquired 93.5% of Koelliker’s equity through a capital increase of 10 million euros. Luigi Koelliker, the previous sole owner of the company, now has 5% of the business, while the ceo Luca Ronconi has 1.5%.
NB Aurora will pay 20 million euros to NB Renaissance Partners (NBRP) for 11% of Rino Mastrotto Group (see here a previous post by BeBeez). This transaction is part of a previous agreement for the acquisition of 70% of Rino Mastrotto Group from the eponymous family that will keep a minority of the business, while Rino Mastrotto and his son Matteo will keep their role of chairman and ceo. Barbara Mastrotto will head the automotive division. The company has sales of 320 million, and ebitda of 45 million.
DoveVivo, an online platform for co-living, acquired students housing platform Place4You (see here a previous post by BeBeez). DoveVivo founders William Maggio and Valerio Fonseca own 61% of the company, Tikehau Capital has 19%, ISA (Istituto Atesino di Sviluppo spa) and Seac Fin own the remaining stake. DoveVivo received credit lines for 22.5 million from Illimity Bank.
Gruppo Tozzi sold Tozzi Electrical Equipment to US producer of components for the energy industry G&W Electric (see here a previous post by BeBeez). Tozzi Electrical Equipment has sales in the region of 20 million euro.
Macquarie Infrastructure and Real Assets is selling Italian wind energy producer Renvico (see here a previous post by BeBeez). Valerio Camerano, the ceo of Italian listed utility A2A, said that the asset is interesting. Rumours say that Revinco has an enterprise value of 400 million euros and an equity value of 150 million. The company is also of interest to Erg, Engie, and to financial investors F2i, Quercus, Tages, and First State Investments.
Poligof, an Italian producer of diapers parts, is up for sale (see here a previous post by BeBeez). Private equity 21 Investimenti hired Alantra for selling the asset. Sergio Folli is the ceo of Poligof, who has sales in the region of 110 million euros and an ebitda of 12 million.
Italian private equity Ambienta sold to US-based DexKo Global a controlling stake of Safim, a producer of industrial automotive components (See here a previous post by BeBeez). Pietro Santoro, the ceo of Safim, and the Mamei Family will keep their role in the company. Safim has sales of 51 million euros, an ebitda of 12.5 million, and net cash of 17.4 million. Speaking on the sidelines of a BeBeez event, Nino Tronchetti Provera, the founder and managing partner of Ambienta, said that the fund, who has resources for 625 million, aims to close some acquisition in Germany by the end of 2019. Ambienta sgr is one of the private capital investors monitored by BeBeez Private Data (find out here how to subscribe to the Combo version, which includes BeBeez News Premium for only 110 euros a month)
Scouting Capital Advisors hired Roberto Francani for heading the firm’s bureau in Padua (see here a previous post by BeBeez). Francani previously worked for Finint as an associate director and as investment manager for Nice Group. Rinaldo Sassi founded Scouting in 2000.
US buyout giant KKR appointed Diego Piacentini as senior advisor for the TMT sector (See here a previous post by BeBeez). Piacentini previously worked for Apple Europe and as senior vice president of the International Consumer Business division of Amazon. Piacentini is part of the executive committee and the board of directors of Milan BocconiUniversity.