NetCo, the landline infrastructure network of Milan-listed TIM, attracted non-binding offer from CDP Equity and Macquarie Infrastructure and Real Assets Europe (see here a previous post by BeBeez). The firms aim to buy FiberCop and the stake in Sparkle. The offer will expire on 31 March, Friday. TIM’s board will appraise the offer on 15 March, Wednesday. NetCo reportedly attracted the reported offer of KKR. Both the bids are worth in the region of 20 billion.
Credem Private Equity, NB Aurora and PM&Partners will launch an offer of 12 euros per share on Milan-listed smart labelling company Finlogic (see here a previous post by BeBeez). The bidder will receive the support of Crédit Agricole and BPER Banca for the offer that could be wirth of up to 88.1 million euros.
Milan-listed Infrastrutture Wireless Italiane (Inwit), a towerco that in 2020 merged with the Italian competitor Vodafone Towers, may attract a public offer, press reports say (see here a previous post by BeBeez). Ardian Infrastructure owns 27.18% of Inwit.
Antin Infrastructure Partners and its co-investors aim to choose an advisor for selling their stake in Grandi Stazioni Retail, a company that handles the advertisings and the retail in the main Italian rail stations (see here a previous post by BeBeez). GS Retail belongs to Antin Infrastructure (65.32%), Icamap (23.12%) and Borletti Group (11.56%) since June 2016. Ferrovie dello Stato and Eurostazioni (a company of the Benetton Family, Vianini lavori, Pirelli, and Sncf) sold the asset for 953 million euros or an enterprise value of above 16 X ebitda. Grandi Stazioni has sales of 550 million and an ebitda of 60 million. In 2023, the company expects to generate an ebitda of 80 million for an enterprise value of 1.3 billion.
Tikedo, an Italian producer of labels, retained Mediobanca as financial advisor and sold a majority stake to White Bridge Investments (see here a previous post by BeBeez). Banco BPM, BPER Banca Corporate & Investment Banking and Banca Ifis financed the transaction and appointed Simmons & Simmons as legal advisors. The managers kept a minority of Tikedo. White Bridge hired Vitale. Tikedo retained Giliberti Triscornia E Associati, DWF, EY, WePartner, Gatti Pavesi Bianchi Ludovici, and Alma. Jamieson Corporate Finance assisted the managers. White Bridge hired Giovannelli e Associati, Ethica Group, Bain & Company, New Deal Advisors, Proj.Eco, and Willis Italia. Tikedo has sales of 50 million euros, an ebitda of 10 million.
Milan and Paris-listed building company EdiliziAcrobatica signed a binding agreement for acquiring 51% of UAE-based competitor Enigma Capital Investments for 7.2 millioni euros (see here a previous post by BeBeez). The target owns Sbc Global Contracting, Magnum Plus, Spider Access Cladding Works & Building Cleaning, and Vertico Xtreme. In October 2022, Enigma Capital Investments received from EdiliziAcrobatica a financing facility of 1.5 million.
Noberasco, an Italian producer of dry fruit, is looking for investors (see here a previous post by BeBeez). The company said to BeBeez that retained Deloitte as advisor. The dossier is on the table of Clessidra, Pillarstone and DeA Capital. Noberasco’s chief restructuring officer Antonio Cellie aims to attract the resources for implementing a relaunch of the business. The company has losses of 3 million euros, an ebitda of minus 0.916 million, sales of 111 million, equity of 6.5 million, and net financial debt of 85 million.
Mipharm, a third parties producer of drugs that belongs to Alto Partners, acquired Alfa Omega from the Monari Family (see here a previous post by BeBeez). The buyer retained as advisors Banca Ifis, Lmcr, Athena Audit, and ERM. Alfa Omega retained Tarricone SELC and Parpiglia & Barretta Legal Tax. The target has sales of 3.5 million euros, an ebitda in the region of 0.675 million, net cas of above 0.566 million and equity of 5.4 million.
Biofarma, an Italian third-parties producer of nutraceutical products that belongs to Ardian since 2022, appointed Gianfranco Nazzi as ceo (see here a previous post by BeBeez). Nazzi replaced Maurizio Castorina which is still pard of Biofarma’s board of directors. Nazzi previously worked as ceo of Almirall. Biofarma has sales of 282 million euros.
Sources said to BeBeez that Progressio hired DC Advisory for selling Italian high end furniture producer Giorgetti, an asset that acquired in August 2015 for an enterprise value in the region of 30 million euros (see here a previous post by BeBeez). Giorgetti has sales of 55 million (80% abroad), an ebitda of 2.6 million and a net financial debt of 12.7 million.
EcoEridania, an Italian waste management company that belongs to Icon Infrastructure Partners (75%), acquired 80% of Oda (Officine Dell’Ambiente) from Exacto (see here a previous post by BeBeez). EcoEridania retained as advisors PwC, E&Y, Deloitte, Arcadis, SCP, and Rossi-Finamore. Exacto hired ADVANT Nctm. Oda has sales of 25 million euros, an ebitda of 12 million and net cash of 9 million.
Capital Dynamics, a Swiss asset manager with a focus on the clean energy, launched Capital Dynamics Future Essentials III, a fund of private equity funds with a fundraising target of 300 million euros (see here a previous post by BeBeez). Sources said to BeBeez that the fund includes strategies for primary and secondary market, direct co-investiments and 10% for impact investing.
Babcock International sold Ancala Partners for 136.2 million euros (see here a previous post by BeBeez). The asset provides helicopter emergency services in Italy, Spain, Portugal, and Scandinavia. Investindustrial and KKR sold Babcock (fka Avincis) in 2014 to Babcock International on the ground of an enterprise value of 2 billion euros.
Alkemy, a Milan-listed digital enabler, signed an agreement with private equity Metrika, a firm that Marco Giuseppini and Nicola Pietralunga head, for acting as strategic partners for the digital development of the fund’s portfolio companies (see here a previous post by BeBeez). Alkemy has sales of 105 million euros with an adjusted ebitda of 11.7 million.
EOS Investment Management subscribed a contract for acquiring projects for the development of renewable energy plants based in the South of Italy with an aggregate power of 380 MW worth above 400 million euros (see here a previous post by BeBeez). IPC, part of Gruppo Igefi, sold the portfolio. The vendor has sales of 470 million euros with an ebitda of 38 million. EOS IM retained as advisors Bird & Bird and RINA. IGEFI hored Green Horse Advisory.
Italian logistic company Bcube hired JPMorgan for finding a partner on the ground of an enterprise value of one billion euros (see here a previous post by BeBeez). Press items quoted Luigi Bonzano, Bcube’s ceo, as saying that the company aims to find a partner ahead of a listing. The company attracted the interest of Chequers Capital, PAI, Bravia Capital, Sun Capital, and Apax.
Toronto-listed investment holding Aimia announced the acquisition of Italian chemical company Giovanni Bozzetto from Chequers Capital (see here a previous post by BeBeez). Paladin Capital will acquire a minority of the target. The transaction value amounts to 227 million euros. Giovanni Bozzetto has an adjusted ebitda of 32.6 million and sales of 225 million. Chequers Capital acquired the business from Synergo in 2017 on the ground of an enterprise value of 95 million. The managers of the target will reinvest for up to 6% of the company while Paladin Capital signed a call option for acquiring up to 19.9%. Latham & Watkins assisted the buyers. Chequers retained Advant Nctm, Lazard and Fineurop Soditic. Gianni e Origoni acted as counsel to Bozzetto.
The Italian antitrust watchdog authorised MSC (Mediterranean Shipping Company) to acquire Trieste Marine Terminal (TMT) from the Maneschi Family that will retain a 20% of the target (see here a previous post by BeBeez). CSM Italia-Gate (a company of MSC and Global Infrastructure Partners) acquired a further 30% di TMT which has sales of above 79 million euros.
Fitex Capital, an Italian search fund that Daniele Schiavello and Giulio Marini created in January 2022, raised 0.6 million euros (see here a previous post by BeBeez). Fitex aims to acquire a company with a turnover of 10 – 30 million and an ebitda of 2-5 million. Gianni, Origoni & Partners and Eptalex acted as advisors.
Horsa, a publisher of business software, acquired a majority stake in Bloomings, a Salesforce partner consultancy firm (see here a previous post by BeBeez). Horsa will finance the transaction with the proceedes of the 5 million euros sustainability linked minibond that UniCredit subscribed in October 2022. Horsa has sales of 138 million euros, an ebitda of 16 million and a net debt of 1.2 million
Italian vegetable oil and fat producer Eulip attracted the interest of Stockholm-listed peer Malmö, Aak Ab (see here a previous post by BeBeez). Eulip has sales of 86 million euros, an ebitda of 25 million and net cash of 27 million. Houlihan Lokey is working on the dossier.
Tages Helios Net Zero, a Tages Capital’s fund that invests in renewable energy, attracted 200 million euros for its first closing ahead of a 750 million target (see here a previous post by BeBeez). Tages Net Zero will also invest in green field projects.
Cebat, a service company for the maintenance of public utility networks of which Oaktree has 80% since 2019, acquired Giubergia & Armando from Alpitel (part of PSC Group) (see here a previous post by BeBeez). The vendor will invest the raised proceeds in reducing its debt. Giubergia has sales of 12.8 million euros, an ebitda of 1.4 million and net cash of 1.2 million.
Troubled Italian insurer Eurovita, a portfolio company of Cinven, is struggling to find investors willing to carry on a recapitalization of 250-300 million euros (see here a previous post by BeBeez). Intesa Sanpaolo Vita, Unipol and Assicurazioni Generali are not keen on the asset that could end its activities.
HIG Capital announced the acquisition of Polygon (fka Tecnologie Sanitarie), a manager of medical devices (see here a previous post by BeBeez). HIG retained as advisors Mediobanca, BonelliErede, Arendt & Medernach, Lincoln International, Bain & Company, Pwc, Aon, and Diligize International. The Zanzi Family hired Vitale & Co, Studio Vulpetti, Gianni & Origoni, Goetzpartners, Ey, and Nexumstp.
Italian engineering and transports company Fagioli of which QuattroR has a stake, launched Megaload, a Mumbai-based joint venture with 51% investor Express Global Logistics, part of maritime & logistic firm Gruppo Fratelli Cosulich (see here a previous post by BeBeez).
Paola Rastelli and Giacomo Rossi attracted a commitment of 300 million euros from Gianluigi Aponte for Vesper Infrastructure Advisory, the vehicle of which they own even stakes and founded with Alfredo De Falco, Livio Fenati and Guillermo Royo-Villanova (see here a previous post by BeBeez). Vesper set a fundraising target of one billion and will invest in sustainable infrastructure assets.
