Banca Farmafactoring (BFF), a Milan-listed financial services firm of which Centerbridge has a controlling stake, signed an agreement for acquiring with cash 76% of DEPObank (se here a previous post by BeBeez). Equinova UK HoldCo Limited, the holding that groups Advent International, Bain Capital and Clessidra, will sell its 91% of DEPObank and will receive cash for the 76% stake and get 7.6% of BFF shares for the remaining stake. A few days before BFF said it had tabled a binding offer (see here a previous post by BeBeez). After the merger, DEPObank’s owners would become shareholders of Farmafactoring together with Centerbridge (21.77%). Milan-listed pay tech Nexi spun-off DEPObank in July 2018. Fabrizio Viola and Paolo Tadini are the chairman and ceo of the company whose equity is worth 600 million euros.
Italian mid-market private equity firm Quadrivio Group aims to raise one billion euros as well as launching an Eltif for co-investing with the fund, managing partner Walter Ricciotti said to BeBeez (see here a previous post by BeBeez). Alessandro Binello is the other managing partner of the fund. Ricciotti said that Italian companies need equity for relaunching their activities after the coronavirus. The role of Eltifs is one of the topics of the event Milano Capitali of MF Milano Finanza and BeBeez for 14 May, Thursday. Stefania Peveraro, the chief editor of BeBeez, detailed about the private market products for private banking clients in her book “Private Capital. Esperienze e soluzioni. Ecco perché la finanza alternativa funziona” (click here for free download) of which EdiBeez is the publisher.
Fondo Italiano d’Investimento (FII) announced the final closing for the fundraising of FII Tech Growth (123 million euros) and for Fondo Innovazione e Sviluppo (370 million) (see here a previous post by BeBeez). FII Tech Growth will target late-stage venture capital deals and raised below its 150 million target. Lazio Innova acted as anchor investor. FII Tech Growth already invested in Supermercato24, BeMyEye, Healthware Group, and Seco, which in 2019 acquired the majority of Chinese Fannal Electronics and the whole of US-based Inhand Electronics. Fondo Innovazione e Sviluppo had Cdp as anchor investor with a commitment of 150 million and a target of 700 million. The fund acquired Marval in 2018 together with HAT Orizzonte and Fonderie di Montorso, which acquired its supplier Animisteria Fiorini and Fonderia Scaranello. FII belongs to Cdp Equity (68%), Intesa Sanpaolo (12.5%), Unicredit (12.5%), ABI (3.5%), and Confindustria (3.5%). FII has 3 billion of asset under management.
Milan-listed Banca Ifis is holding exclusive talks since 11 May, Monday, for the acquisition for a 70.77% of Farbanca, the Italian lender for pharmacies (see here a previous post by BeBeez). Individual shareholders own 29.23% of the target. Mediobanca is handling the sale. Banca Ifis holds 70% of Credifarma, a provider of financial services for pharmacies of which Federfarma, the Italian association of drugstores, has 30%. Earlier in February, Banca Popolare di Sondrio reached an agreement for buying 70.77% of Farbanca for 30 million euros. However, the Bank of Italy asked the buyer to focus on the reduction of its distressed credits. Farbanca is up for sale since 2017 when Chinese CEFC China Energy Company could not close the acquisition. The asset attracted the reported interest of Credito Valtellinese, Blue Skye and Atlas. Farbanca has net profits of 4.1 million (-18.7% yoy), net equity of 65.5 million (+4.6%), and a CET1 ratio of 15.72%.
Ambienta acquired UK Create Flavours, a producer of natural aromas for the food & beverage sector (see here a previous post by BeBeez). Create Flavours has sales of 10 million euros. Ambienta carried on such acquisition for building Nactarome, a European producer of aromas and ingredients for the food & beverage sector. Earlier in January, the fund acquired Nactis Flavours, a market leader in France and Belgium, and merged it with Italy’s AromataGroup and its subsidiary Ipam. The new group rebranded as Nactarome and has sales of above 110 million. Ambienta is one of the private capital investors that BeBeez Private Data monitors. Find out here how to subscribe to the Combo version that includes BeBeez News Premium.
Panapesca, an Italian distributor of frozen fish and seafood that belongs to Xenon Private Equity since December 2018, acquired the majority of Italian competitor Il Faro Quality Fish, a company that Massimo Raffaelli founded in 2014 (see here a previous post by BeBeez). Raffaelli will keep his ceo role, while Fabrizio Paesini, the ceo of Panapesca will be the target’s chairman. In January 2019 Panapesca issued a 15 million minibond that private debt fund Equita subscribed. Panapesca has sales in the region of 150 million.
BN Investimenti, a company that spun off from Italian contractor Bonatti on 31 October, sold Montelungo Gas, Maierà Gas and Cometam Gas to 2i Rete Gas (see here a previous post by BeBeez). The targets distribute natural gas in the areas of Caserta, Cosenza and Vibo Valentia. Michele De Censi is the ceo of 2i Rete Gas, an asset of infrastructure fund F2i, APG, and Ardian that has sales of 720 million euros with an ebtida of 462 million, net financial debt of 2.65 billion and current investments amounting to 288 million.
Luca Dal Fabbro resigned from his role as chairman of Snam Rete Gas for launching a private equity fund with a focus on circular economy (see here a previous post by BeBeez). Dal Fabbro will keep his role in Snam until 18 June.
Banca d’Italia authorised Italian financial advisor Arkios to acquire 51% of competitor Integrae (see here a previous post by BeBeez). Banca Valsabbina (26%) and Simone Sinai (20%) will be the further shareholders of Integrae. The Macchiaverna Family sold all its controlling stake in the asset.
Celli, a producer of beverage dispensers that belongs to Ardian, opened three branches in Germany, USA and Brazil (See here a previous post by BeBeez). Ardian acquired a controlling stake in Celli in February 2019 from Consilium Private Equity which purchased 70% of the asset in 2013 from the eponymous owner who held 30%. Celli has sales in the region of 130 million euros (34 million in 2013) and acquired competitors ADS2 (2015), Cosmetal (2016), Angram (through ADS2 in 2017), FJE Plastic Development (2018), MF Refrigeration (2019), and T&J Installations (2020).
Dutch Medis Medical Imaging Systems, which belongs to Van Herk Ventures since May 2018, acquired Italian MedTech Advanced Medical Imaging Development (AMID) (see here a previous post by BeBeez). Van Herk Ventures’ focus is on life science. Giovanni Tonti and Gianni Pedrizzetti founded AMID in 2000. Leiden University Medical Center spun-off Medis in 1989.
IdeA Agro, an investor in the agrifood production chain that belongs to DeA Capital Alternative Funds, invested 8.5 million euros in Ingino, a producer and distributor of frozen fruit (see here a previous post by BeBeez). The eponymous family sold the majority of the business, which has sales of 33.4 million euros.
Andrea Sasso is the new chairman and ceo of Italian Design Brands (IDB), the Italian pole for high-end Italian furniture (see here a previous post by BeBeez). The company was born in 2015 upon the initiative of Private Equity Partners, Paolo Colonna, Giovanni and Michele Gervasoni, with the support of further private investors. Sasso, 54, previously worked for Gruppo Merloni-Elettrodomestici/Indesit Company, Pirelli Tyre, Gruppo Elica, Gruppo Marazzi, Teuco,Gruppo FIMAG, iGuzzini, and a member of the General Management Council of AB Fagerhult. The manager must help Gruppo IDB to launch ain IPO in the next years. IDB has sales of 150 million euros (70% generated abroad). IDB owns Gervasoni (2015), Meridiani (2016), Cenacchi International (2017), Davide Groppi (2018), Saba Italia (2018), Modar (2019), and Flexalighting (2020). Further investors in IDB are Paolo Basilico, Maurizio Costa, Marco Costaguta, Gaetano, Stefano and Paolo Marzotto, Carlo Micheli, Umberto Nicodano, Franceso Perilli, Umberto Quadrino, Dante Roscini, Gian Mario Tondato, and Marco Santandrea
Alto Partners acquired the majority of Costruzione Emiliana Ingranaggi (Cei), a vendor of components for trucks, from the Boni Family (see here a previous post by BeBeez). Cei generates abroad 85% of its turnover of 62 million euros. Earlier in April, Alto Partners created Spare Partners, a club deal platform for acquiring companies that produce components for tractors and trucks. Spare Partners also belongs to Vitaliano Borromeo Arese (1.6%), Francesco Baggi Sisini (2.4%), Leonardo Gerardo Braggiotti (3.2%), and Investitori Truck (9.5%), a subsidiary of Hydro Holding, a portfolio asset of NB Renaissance since December 2018.
Franchi Umberto Marmi (FUM), an Italian producer of luxury marble, may list on Milan market after a business combination with TheSpac (see here a previous post by BeBeez). Marco Galateri di Genola, Vitaliano Borromeo Arese, Giovanni Lega, Luciano Di Fazio, and Gianluca Cedro launched TheSpac, who raised 60 million euros in 2018. FUM previously held preliminary talks for the sale of a minority to Peninsula. In November 2019, FUM stopped its listing plans after judicial problems of the chairman Alberto Franchi. FUM has sales of 62 million euros, a 48% ebitda margin, and net cash of 16 million. The Franchi Family founded FUM in 1971. BeBeez Spac Report is available to the readers of BeBeez News Premium.
Banor sim hired Riccardo Faroppa for developing its family office activity (see here a previous post by BeBeez). Faroppa is an alumnus of Scuola Normale Superiore di Pisa, where he graduated in physics. He previously worked for Swiss XY, TerraNova Partners, BCG, and Accenture. Massimiliano Cagliero is the ceo of Banor sim.
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