On July 24th in Courmayer from 3pm Private Capital Tax & Legal Focus by PVB Monitor will take place. BeBeez is media partner (see here a previous post by BeBeez). Stefania Peveraro, the Editor in Chief of BeBeez, will moderate a roundtable with Alberto Bassi, Maurizio Bernardo, Stefano Bontempelli, Giampio Bracchi, Alessandro Corno, Giuseppe Donvito, and Attilio Mazzilli. Click here for signing up for the event
On 23 July, Thursday, the Auditing Commission of the Italian Parliament for Cassa depositi e prestiti discussed with the ceo Fabrizio Palermo the firm’s eventual investment in Autostrade per l’Italia (ASPI) which shared with the Italian Ministry of Finance (MEF) its business plan (see here a previous post by BeBeez). Milan-listed Atlantia, whose controlling shareholder is Edizione Holding, owns 88% of ASPI and it may dilute its stake through an at least 3 billion euros capital increase that will bring CDP to a 33% stake and the sale of a 22% to other investors. ASPI may also launch an IPO that would dilute Edizione Holding to 11% , while the other shareholders of Atlantia (Allianz Capital Partners, EDF Invest, DIF, and China’s Silk Road Fund) to reduce further their stakes. Aspi’s new controlling shareholders would be Cdp (33%) and institutional investors (22%). Cdp would favour Italian banking foundations to buy ASPI’s 22% such as Cariplo, Compagnia San Paolo and CRT. Poste Vita may invest in the asset together with pension funds through a fund that F2i may structure to this end.
Dedalus, an Italian producer of medical devices that belongs to Ardian, paid 525 million US Dollars the publishing unit of software for healthcare of NYSE-listed DXC Technology (see here a previous post by BeBeez). Dedalus has sales of 700 million euros. Giorgio Moretti and Andrea Fiumicelli are the company’s chairman and ceo.
Spain’s Importaco acquired 51% of Italy’s Besana from Pino and Riccardo Calcagni (see here a previous post by BeBeez). Besana was looking for a partner for growing in Northen Europe and Asia since June 2019. In 2018m the company had sales of 147 million euros, an ebitda of 6.7 million and a net debt of 47.1 millioni. The new group will have a turnover of 770 million.
Simest invested 2.3 million euros in Biomedical Distribution Colombia, a subsidiary of Gruppo Bomi, a provider of logistic services for the healthcare sector that belongs to Archimed (see here a previous post by BeBeez). Simest will allow Gruppo Bomi to grow in Latin America and to acquire the stakes of the minority shareholders of the subsidiaries in Columbia and Peru. Bomi has sales of 126 million euros, an ebitda of 12.1 million and a net financial debt of 35.2 million.
German private equity Auctus Capital Partners acquired the majority of Profiltubi from the Alfieri Family (see here a previous post by BeBeez). Mps Capital Services and Banco Bpm financed the buyer. Auctus Capital Partners invests in companies with an enterprise value of 10 – 100 million euros and sales of 10 – 150 million operating in the sectors of healthcare, automotive, fine chemicals, pharma, IT, software, education, and business services.
E2E, a company whose controlling shareholder is Gianluca Lancellotti, hired Ubi Banca and L&B Partners for selling a portfolio of photovoltaic plants with a power of 32,5 MW, out of a total of 90 MW (see here a previous post by BeBeez). The asset may have attracted the interest of Tages, NextEnergy Capital, Cubico, Obton and F2i. E2E will invest such proceeds for financing its organic development. E2E has sales of 38 million euros and an ebitda of 33 million.
Brian and Partners acquired 30% of EasyCharge, a provider of stations for recharging the batteries of electric vehicles (see here a previous post by BeBeez). Andrea Bricchi, the ceo of Brian and Partners, joined the board of EasyCharge, whose ceo is Rachele Maria Lorusso. Brian and Partners was born at the end of 2018 and publishes B2B software. The company acquires stakes in firms in exchange of its services (work for equity). Brian and Partners already has 49% of VT Filters,.
Banca Ifis acquired 16.32% of Cristallina, the holding that controls the mineral water brands Pejo and Goccia di Carnia and that has sales in the region of 33 million euros (see here a previous post by BeBeez). Centurion global fund sicav sold the stake. In September 2019, a club deal that Orienta Partners arranged with Indigo Capital invested 15 million in Cristallina. AVM sold Pejo and Goccia di Carnia in September 2018.
L Catterton acquired the online retailer for food integrators IAFSTORE (see here a previous post by BeBeez). Antares AZ, the private debt fund of Azimut Libera Impresa, financed the transaction. IAFSTORE reportedly attracted the interest of Trilantic Capital and has sales of 20.38 million with an ebitda of 0.771 million.
ForVei, a joint venture that Foresight signed with Vei Green (Palladio Holding), acquired 99% of an Abruzzo-based photovoltaic plant with a power in the region of 2MWp (see here a previous post by BeBeez). Vei Green sold the asset. ForVei raised 90 million euros ahead of a target of 120 million. The fund attracted the resources of China’s NWS Holdings Limited, a conglomerate that belongs to the Chow Tai Fook Family of Hong Kong.
Carla Ferrari is the new chairwoman of Ambienta, whose ceo is Nino Tronchetti Provera (see here a previous post by BeBeez). Carla Ferrari is replacing Antonio Segni, who held his role for 12 years. Ambienta also appointed Alfredo Altavilla as independent director.
CVC Capital Partners acquired the majority of Gruppo Genetic, a pharmaceutical company (see here a previous post by BeBeez). Earlier in June, CVC started to hold exclusivity talks with the Pavese Family who controlled the company through Oxford Pharma Holding and hired Ubs for handling the sale. The target has a turnover of 42 million euros, an ebitda of 12.8 million, and net cash of 9.3 million. Transactions in the sector are worth 9.8X ebitda, Genetic’s enterprise value could then be in the region of 125 million. The company attracted the interest of KKR and ProA Capital.
Goldman Sachs received offers for a minority of Illycaffé who is looking for a partner for developing its retail activities in the USA (see here a previous post by BeBeez). The asset attracted the interest of Advent, Oaktree, TowerBrook, Blackstone, and a Qatar player. Illycaffé has sales of 520.5 million euros with an adjusted ebitda of 75.3 million and net profits of 18.1 million. Riccardo Illy, the company’s head, said that he he would sell an up to 40% stake in Il Polo del gusto, another wine and sweets retailers for boosting the business on the ground of an enterprise value of 250 million. Francesco Illy is reportedly looking to sell his 23% of the holding company. The asset attracted the interest of Peninsula and Fsi.
Agrimola, an Italian producer and distributor of chestnuts in which Fondo Agroalimentare Italiano (FAI, a vehicle that Unigrains sponsored), acquired the majority of La Nuova Tradizione, a manufacturer of semi-finished products for the sweets and ice cream industry (see here a previous post by BeBeez). La Nuova Tradizione has sales of 2.5 million euros. Francesco Orazi heads the Italian operations of FAI.
Montepaschi’s former ceo Marco Morelli is the new executive chairman of Axa Investment Management (IM) as well as member of Axa’s management committee (see here a previous post by BeBeez). Morelli will be operative in his new role from 14 September 2020, work in Paris and report to Thomas Buberl, the ceo of Axa. Morelli is replacing Gérald Harlin, vice ceo of Axa and executive chairman of Axa IM, who will go in pension at the end of September, but will keep his role of board member of the company. Axa IM, a subsidiary of Axa has 804 billion euros of assets under management.
MISE (the Italian Ministry for economic development) sill support troubled Italian fashion firm Corneliani that belongs to the eponymous family (48.6%) and to Investcorp (51.4%) (see here a previous post by BeBeez). On 21 July, Tuesday, MISE undersecretaries Alessandra Todde and Alessia Morani had a meeting with the company’s judicial commissioner Luca Gasparini and the unions. MISE will invest up to 10 million euros of the Italian Government recovery fund in Corneliani by the end of September.
French Snetor acquired 70% of the distribution unit of Tecnopol, Giancarlo Rizzi and Alberto Borio will keep the remaining 30% and their ceo roles (see here a previous post by BeBeez). Family office Sofival and fund Paluel-Marmont Capital acquired a stake in the company in 2018. After such deal, the company will rebrand as Gruppo Tecnopol Snetor and will merge the Spanish activities of Snetor and Tecnopol with the name of Tecnopol Snetor Iberica (Snetor 60% and Tecnopol Snetor Italia 40%). Tecnopol has sales of above 60 million euros.