Investindustrial, the private equity that managing principal Andrea Bonomi founded, raised 3.75 billion euros, well above the reported 3 billion target (see here a previous post by BeBeez). Investindustrial reached an unprecedented peak with this closing. The Bonomi family invests on average 10% of each fund’s equity. Investors for this fund are based in Europe (51%), America (40%), and the Middle-East and Asia. Italian institutional investors poured resources for the first time in Investindustrial which attracted money from pension funds and sovereign investors (36%), insurance companies (35%), foundations (15%), funds of funds and other investors (14%). The new vehicle will have a pan European investment approach with main focus on Italy and Spain. Further partners of the fund are Carlo Umberto Bonomi, Dante Razzano, Carl Nauckhoff, Salvatore Catapano, Mateo Paniker, Roberto Maestroni, Joaquin Guell, and Maurizio Bottinelli. Investindustrial has offices in Lugano, Barcelona, London, Luxembourg, New York, and Shanghai. Investindustrial is one of the private capital investors that BeBeez Private Data monitors. Find out here how to subscribe for the Combo version that includes BeBeez News Premium.
Intesa Sanpaolo paid 653 million euros for a 9.9% of Milan-listed paytech Nexi, which acquired the merchant acquiring activities of the bank for one billion euros (see here a previous post by BeBeez). On 19 December, Thursday, Nexi shares went up 4.2% at 11,404 euros. The closing of the transaction may take place in 2020, once received the approval of competent authorities. Nexi, whose controlling shareholders are Advent International, Bain Capital, and Clessidra, will finance such acquisition with liabilities and will reach a 3.4 net debt/ebitda ratio of at the end of 2020 and increase its ebitda by 95 million. Nexi is a company monitored by BeBeez Private Data (find out how to subscribe for only 110 euros a month)
Taste of Italy, a private equity fund with a focus on agrifood assets that belongs to DeA Capital Alternative Funds, acquired 69.3% of Italian producer of machinery for the processing of fruit and vegetables Turatti from the eponymous family (see here a previous post by BeBeez). Antonio Turatti and his kids Alessandro and Ilaria will keep a 29.7% stake, while the company’s executives will hold 1%. The company generates abroad 80% of its 22 million euros sales and has plants in Venice area, Salinas (California), and Hanoi (Vietnam). In 2014, Taste of Italy raised 218 million, of which Dea Capital subscribed 25.2 million. Pierluca Antolini and Andrea Bertoncello manage the fund (see here their panel during a an April 2018 BeBeez Event about finance and agrifood). In October 2019, DeA Capital Alternative Funds started to raise new resources for Idea Taste of Italy and set a target of 250-300 million for a fund that will have its headquarter in Madrid. Taste of Italy is one of the private capital investors that BeBeez Private Data monitors. Find out here how to subscribe for the Combo version that includes BeBeez News Premium.
Fulgar, the producer of nylon 6.6. and European distributor of the brand Lycra, acquired Italian undrewear manufacturer Pompea, also owner of Roberta brand, from the Rondella family (see here a previous post by BeBeez). Vendors will keep the logistic and dye-works assets. Pompea has sales of 73.8 million euros, an ebitda of 5.4 million and a net financial debt of 22.3 million. Italy’s Fulgar belongs to the Garosi family and has sales of 200 million. In July 2015, Pompea signed a restructuring agreement with UBI banca, Mps, Unicredit, Bnl, MantovaBanca, Bpm, and Banca Popolare di Mantova. Pompea paid 4.7 million to the lenders for reimboursing the passive interest up to December 2014 and the expired instalments. The company will pay its mid and long-term debt of 12.1 million in six annual instalments of 2 million each from 2015 to 2020.
Germany’s Zschimmer & Schwarz acquired 60% of Italian Samia, a producer of pc for the sectors of automotive, fashion and furniture (see here a previous post by BeBeez). The target’s ceo Luigi Ciarlo and other shareholders of Samia sold their stakes. The company has sales of 24.4 million euros and an ebitda of 5.53 million.
Mutares, a German special situations investor, acquired Tekfor, the Italian subsidiary of the German eponymous group, a producer of automotive components (see here a previous post by BeBeez). Italy’s Tekfor has sales of 121.63 million euros, an ebitda of minus 8 million, and net cash of 0.91 million. Munich-based Mutares is listed on Frankfurt’s Xetra. Robin Laik and Axel Geuer founded it in 2008. The fund targets SMEs with sales of 50 – 500 million that are in distress. Earlier in June, Mutares acquired from Chinese Deren Group 80% of Plati Elettroforniture, a b2b cable producer that has sales of 38 million
Nutrilinea, an Italian dietary supplements that belongs to White Bridge Investments, acquired Italian competitor Biofarma (see here a previous post by BeBeez). After the transaction, a 170 million euros sales company will be born. Biofarma has sales of 76.2 millions, 14 millions of ebitda, and a net financial debt of 14.3 millions. Nutrilinea has sales of 55.4 millions, an ebitda of 8.6 millions, and a net financial debt of 35.4 millions. Furthermore, in June 2019 Nutrilinea acquired 70% of Italian Apharm, which has sales of 10.5 millions, from founders Angelo and Paolo Pizzoni, who kept 30% of the company. In May 2018, Nutrilinea acquired Italian Pharcoterm, a 14.7 millions turnover company. White Bridge Investments will keep the majority of the merged group while Biofarma’s founders Germano Scarpa and Gabriella Tavasani will keep a relevant stake of the new company. Maurizio Castorina, the ceo of Nutrilinea, will be the ceo of the new group, Giuseppe Giorgini, chairman of Nutrilinea, will be the chairman and head of extraordinary operations of the new group. Marco Malaguti, coo of Biofarma, will be coo of the new group.
Interconnector Energy Italia, a consortium of heavy energy buyers that operate in the fields of steel, paper, and chemistry, acquired from Milan-listed Terna the high power electric interconnection (see here a previous post by BeBeez). The target links the electric transmission between Italy and Montenegro and will be active since the end of December 2019. The transaction value is of 240 million euros, the value of the EPC expenses that Terna carried on. Buyers received project financing support of 231 million from Unicredit, Banco Bpm, Cassa Depositi e Prestiti, Ing Bank, Mps Capital Services, Natixis, Société Générale,and UBI Banca. The financing includes an interest rate swap for the protection from the risk of interest rate change on the senior financing.
