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Fineurop Soditic acted as exclusive financial advisor to the private equity firm Apax Partners in the acquisition of a majority stake in Business Integration Partners (Bip) from the private equity firm Argos Soditic.
The Bip’s top management and other Partners will continue to hold an important share and manage the Group.
Founded in 2003, Bip delivers management consulting, business integration and IT/digital transformation services supporting international companies in the research and adoption of disruptive technological innovation. The company is present in more 11 countries with over 1,800 professionals.
The deal, Apax’s first in the services and consultancy sector in Italy, represents the key to further acceleration of Bip’s growth and development. The objective is to establish Bip as an undisputed global player in the market by pursuing both organic and external growth, and accelerating its international development and industry diversification.
Fineurop Soditic acted as exclusive financial advisor to the shareholders of Forest in the sale of a 65% stake to the private equity firm Progressio SGR.
Forest has been valued at around Euro 65 million.
The Vendors are Marina Salamon, who acquired a 51% stake in Forest in November 2014, via her wholly owned company Alchimia S.p.A. and the CEO Nicolas Bargi who will partner with Progressio retaining the remaining stake in the Company.
Established in 2011, Forest is the first brand of 100% animal free puffer jackets, and a leading producer of animal-free clothing under the Save the Duck brand.
Forest is currently present in 29 countries, mostly in Europe, with Germany in the lead, followed by Benelux and Scandinavia, thanks to a selected network of wholesale stores. It reached an export rate of above 50%.
Forest generated 2017 sales of Euro 31,5 million, with an EBITDA margin of 23% and is expected to double revenues in the next three years.
Progressio will support the development of a monobrand network; in the mid-term it will open stores starting from Milan and followed by the main international fashion destinations such as New York, London and Tokyo.
Fineurop Soditic acted as exclusive financial advisor to Optima, a leading manufacturer of ingredients for artisanal ice cream active worldwide with the MEC3 brand and controlled by Charterhouse Capital Partners since November 2016, in the acquisition of Modecor Italiana.
Established near Varese in 1960, Modecor is a European leader in cake decorations and operates in 70 countries worldwide.
The Group has a workforce of 150 employees and counts around 2,000 pastry decoration items on catalogue and posted 2016 revenues of over Euro 50 million.
The transaction will strengthen two champions of “made in Italy” products, highly complementary and synergistic players, creating new growth opportunities on international scale.
Both companies will remain independent and separated, each focusing on its specific sector: MEC3 on icecreams ingredients and Modecor on pastry.
The deal allows Modecor to widen its distribution network and reach uncharted areas taking advantage of MEC3’s international wholesale and distribution network and its consolidated global presence.
The acquisition also implies the sharing of both strategic production and training know-how within their respective business sectors.
Fineurop Soditic acted as exclusive financial advisor to the France-based private equity firm Astorg, in the acquisition of a majority stake in Surfaces Technological Abrasives from the private equity firm Xenon Private Equity.
Surfaces Technological Abrasives is a world leading manufacturer of abrasive products for the treatment of lapping of the ceramics.
Surfaces generated 2016 sales of approximately Euro 60 million.
The Company has recently acquired ADI, a leading provider ceramics-working equipment, headquartered near Vicenza.
The transaction represents the second investment of Astorg in Italy. The firm aims at creating a worldwide industrial provider in the abrasives technology business able to supply solutions addressed to a wide number of industries.
Fineurop Soditic acted as exclusive financial adviser to White Bridge Investments (WBI) in the acquisition of Nutrilinea from the founding shareholders.
Founded near Varese in 2002, Nutrilinea is an Italian leading company in the contract manufacturing and packaging of food supplements and medical devices for the health and pharmaceutical industry, representing a strategic supplier to some international food and pharmaceutical companies.
Nutrilinea registered solid financial performances: referring to the first half of 2017, it reported 66% sales increase compared to the same period of 2016 and is still keeping this positive trend also in the second half of 2017.
WBI will enhance the Company’s growth and international development by providing Nutrilinea with financial resources to invest in both technological and product innovation.
The founding partners of M-Cube, assisted by Fineurop Soditic as exclusive financial advisor, sold a stake in the Company to HLD Europe. At the same time, Fineurop Soditic assisted M-Cube in a capital increase subscribed by HLD Europe.
Founded in 2001, M‐Cube has emerged in Italy as the leading player in design and development of digital multimedia solutions (radio and video), supporting the in‐store marketing of large retailers. From the creation to the management of deployed solutions, M‐Cube offers its customers a wide selection of unique personalised experiences tailored to each target and each location.
M‐Cube, with a team of over 60 people, counts among its clients major international groups of household goods distribution and fashion, for whom digital multimedia in‐store solutions have been installed in more than 80 countries.
HLD Europe, independent investment holding based in Luxembourg, will support the Company’s international growth thanks to its wide network and know‐how, allowing M‐Cube to consolidate its position in Europe.
Fineurop Soditic acted as financial advisor to NB Renaissance Partners, the Neuberger Berman’s arm dedicated to private equity investments in Italy, in the acquisition of a majority stake in Comelz from the Zorzolo family that will retain a minority interest in the Company.
Established in the renowned footwear district of Vigevano 75 years ago, Comelz is focused on the production of cutting machines for the footwear and leather goods industry.
It has a wide international network of distributors and subsidiaries and operates two production plants with a workforce of approximately 160 people.
Comelz generates most of its turnover abroad. It has increased its sales from around Euro 23 million in 2012 to approximately Euro 50 million expected as the end of 2017.
The new investor will support Comelz in a new phase of growth across international markets.
Fineurop Soditic acted as financial adviser to Intercos Group, leading producer of third-party cosmetics and portfolio company of L Catterton, in the acquisition of Cosmint Group from the Masu family.
Founded in 1993 and headquartered near Como, Cosmint is an Italian leading contract manufacturer of cosmetic products, serving the most prestigious international cosmetic brands.
Cosmint generated 2016 sales of Euro 140 million.
The deal will create one of the largest B2B beauty groups worldwide, counting 15 factories and 11 research centers across Europe, Asia and America, employing around 5,000 people globally and with an expected 2017 turnover of approximately Euro 700 million.
Fineurop Soditic assisted Chequers Capital in the acquisition of a controlling stake in Giovanni Bozzetto Group, alongside its management team headed by Roberto Curreri, from Synergo SGR.
Headquartered near Bergamo, Giovanni Bozzetto Group is a specialty chemicals company that started its activity in 1919 as a textile chemicals company, producing and distributing chemical agents used throughout textile production processes in order to enhance their efficiency. Starting from the 1980s, the Group expanded into other markets such as building materials, detergents and agriculture chemicals, both organically and through acquisitions.
Bozzetto has a strong international presence serving customers in 80 countries with sales generated in 2016 for Euro 118 million.
Bozzetto operates 5 production plants located in Italy, Spain, Poland, Turkey and Indonesia, as well as a partnership in China.
Chequers Capital will support Bozzetto in the implementation of its strategic plan and in pursuing external growth.
Fineurop Soditic acted as exclusive financial advisor to Alpha Private Equity Funds in the acquisition of Europart Holding GmbH from the current private equity investors Triton Funds and Paragon Partners.
Europart, headquartered in Hagen (Germany) and with more than 1,500 employees, is a leading European retailer for utility and special purpose vehicle spare parts and accessories as well as workshop requirements for vehicle garages and transport companies.
Europart operates an international network with more than 300 sales outlets represented in 28 countries.
Alpha is an independent Pan-European Private Equity firm, specialized in mid-market buyouts with Euro 2 billion under management, mainly focused on crossborder transactions in Italy, France, Germany, Benelux, Switzerland.
Thanks to its strong industry experience as well as financial capability, the new investor Alpha will allow Europart to further accelerate its development.
Fineurop Soditic acted as debt adviser to Stirling Square Capital Partners, a leading pan-European mid-market private equity firm, in the acquisition of Isoclima Group through a management buyout co-led by Isoclima’s co-founder Alberto Bertolini and industry veteran Bill O'Gara.
Established in Este in 1977, Isoclima is the global solutions leader in transparent armour and high-performance glass products. The Group employs over 700 staff in operations across Italy, Croatia and Mexico and its products are mainly addressed to the civilian and military armoured vehicles, specialty vehicles, marine, architecture, aerospace and rail end-markets.
Stirling Square will support Isoclima's international development strategies focused on product development and delivery into new sectors and geographies.
The transaction represents the seventh platform investment in Stirling Square’s third Fund.
Fineurop Soditic acted as exclusive financial adviser to the private equity firm Wise SGR in the sale of Boglioli to the Spanish specialist industrial investment fund Phi Industrial Acquisitions.
Wise initially invested in Boglioli in 2007, acquiring a majority stake, while it acquired the remaining 20.33% stake from the founding family later in March 2013.
Founded by the Boglioli family in the outskirts of Brescia in 1974, the Company is a well-known luxury menswear tailoring fashion house.
The Company recorded 2016 sales of around Euro 23 million.
Following the entry of new investor and financial capital, Boglioli is ready to continue its recovery path and to further growth internationally.
Fineurop Soditic acted as debt adviser to Progressio Investimenti II Fund in the acquisition of a 70% stake in Garda Plast from the Tonoli family, with the Tonoli brothers retaining a 30% stake in the business.
Established in 1996, Garda Plast is the Italian leader and one of the main European players in the production of preforms in P.E.T. for mineral water, soft drinks and detergents.
The growth strategy enacted by Progressio, building on past performance, aims at strengthening and consolidating Garda Plast position on current markets and expanding into adjacent segments.
Fineurop Soditic originated the transaction in which the French Group Autodis (Autodistribution), backed by the private equity firm Bain Capital, acquired a majority stake in OVAM, Ricauto and Top Car.
The three leading Italian wholesaler distributors operate in the North and Center of the country.
Founded near Milan in 1963, OVAM achieved 2016 turnover of over Euro 80 million and employs around 150 professionals.
Established respectively in 1973 and 1989, Ricauto and Top Car are based in Padua and together represent the major player with GIADI, the Autodistribution’s partner purchasing group in Italy through the affiliated subsidiary AD Italy. In 2016, Ricauto and Top Car generated a combined turnover of more than Euro 40 million and employing 47 professionals.
The newly formed Italian structure would generate revenues in excess of Euro 120 million and will become one of the domestic leaders in Italy, also by attracting new independent distributors.
Fineurop Soditic assisted the private equity fund Aksìa Capital IV in the acquisition of a 70% stake in Alpha Test from its founding shareholders and the private equity fund Alcedo III (45%).
Alpha Test is a leading player in the field of professional education, specialized in books and courses for preparation at university admission test and the Italian market leader in University admission test preparation.
Founded in Milan 1987, Alpha Test has a catalogue that includes more than 600 titles, 100 new editions per year, 5 million copies sold and 40,000 hours of lessons offered in 35 Italian cities to over 80,000 students.
Aksìa aims to support the management in the further development of the business, expanding the range of products on offer and entering adjacent market segments, either directly or through acquisitions.
Fineurop Soditic originated the transaction in which the US-based Fleetcor Technologies, Inc. acquired a minority stake in QUI! Group and acted as exclusive advisor to the Sellers.
Fleetcor, listed on the NYSE, is a leading global provider of fuel cards and workforce payment products to businesses. Fleetcor serves commercial accounts in over 53 countries (North America, Latin America, Europe, and Australia/New Zealand) and has more than 800 partners and a high volume customer base.
Founded in 1992 and with headquarters in Genoa, QUI! Group provides food cards and meal vouchers to both private and public employers. It is an Italian market leader with thousands of clients and a network of 100,000 grocery and restaurant establishments.
The Company employs over 1,300 people and its 2016 sales exceed Euro 600 million.
QUI! Group started its international expansion in 2015, entering the Brasilian market.
The partnership with Fleetcor will enable QUI! Group to strengthen its position in the Italian SME market, to widen its products portfolio and to accelerate its international growth.
Fineurop Soditic assisted Wise SGR S.p.A. in the acquisition of Tapì S.p.A. from the founders and Gradiente I fund.
Tapì, headquartered near Padua, is a global leader in the design and production of synthetic T Tops mainly used for premium and super premium spirit bottles. Tapì’s products bring together a high kwon-how content and design, as it is typical of Italian excellence. The company also serves food and wine producers selling high innovation and design closures.
The company operates plants in Italy and Mexico having Europe, the US and Central America as main geographic markets.
Tapì reached revenues of approximately Euro 40 million, over 85% of which coming from international markets.
The acquisition represents the third investments of Wisequity IV fund.
Wise will strengthen Tapì competitive positioning by bringing both financial and human resources, supporting the Group in its global expansion.
Fineurop Soditic acted as exclusive financial adviser to the private equity firm White Bridge Investments in the acquisition of a minority stake in Ancorotti Cosmetics.
Founded in 2008, Ancorotti Cosmetics is a leading contract manufacturer in the cosmetic sector specialized in the production of mascara and back injected powders for the main international brands.
In 2016, it generated sales of Euro 72 million (+66% on 2015) confirming its profitable growth trend.
White Bridge will boost Ancorotti’s international expansion, supporting the Company and accelerating its further development.
Fineurop Soditic provided financial advice to IDeA Capital Funds regarding the purchase of a minority stake in Acque Minerali S.r.l., Italy-based mineral water and soft drink company, owner of the Lurisia brand.
In particular, the Italian private equity fund IDeA Taste of Italy focused on agri-food sector investments and managed by IDeA Capital Funds SGR (DeA Capital Group), completed the investment of a 33% stake in Acque Minerali, whose current owners include the Invernizzi family and the food group Eataly that invested in the Company in 2004.
Lurisia is a well known brand offering high quality products and innovative packaging design. Distributed in the USA since 1992, the Lurisia brand currently exports its products globally.
IDeA Taste of Italy will enhance the international growth of Lurisia, doubling its production volumes and positioning the brand at a premium segment in the catering distribution; moreover it will strengthen the Lurisia leadership in the quality soft drinks business in Italy and abroad in partnership with Eataly’s new marketplaces openings.
Fineurop Soditic assisted Surfaces Technological Abrasives, leading Italian provider of ceramics-working equipment controlled by the P.E. fund Xenon Private Equity VI, in the acquisition of ADI.
Established in 1980 and based near Vicenza, ADI is a leading player in diamond tools addressed to a wide number of industries.
The transaction will create a new leading group in the abrasives technology business with total sales of around Euro 55 million.
Fineurop Soditic acted as exclusive financial advisor to Charterhouse Capital Partners LLP in the acquisition of 100% of Optima S.r.l. from The Riverside Company. Charterhouse prevailed in a competitive auction process over leading strategic and international private equity investors.
Established in 1984 and headquartered in Rimini, Optima is a leading manufacturer of ingredients for artisanal ice cream. It operates under the Mec3 brand and has an estimated global market share of approx. 12%. Optima offers a complete portfolio of top quality products among which pastes, bases and powders, gelato kit and syrups. In 2015, Optima reported sales of around €105 million and an EBITDA of €25 million. The Company is active in over 140 countries and can boast a particularly strong position in Germany and Brazil.
The Riverside Company acquired Optima in a LBO transaction from the Emendatori family in February 2014.
Charterhouse will provide Optima with additional means to accelerate its growth plans supporting the Company‘s strengthening and expansion into new markets at international level.
The closing is expected by the end of 2016.
Charterhouse Capital Partners, headquartered in London is a leading private equity investor in Europe. Established at the beginnings of the 80’s, Charterhouse has completed since its inception over 140 transactions worth an aggregate in excess of €50 billion in value. Charterhouse currently manages over €5.7 billion and has recently completed the fundraising of its X Fund of Euro 2.3 billion.
Its small portfolio of investments allows Charterhouse to work closely in supporting management to maximize value for its investors. The acquisition of Optima-Mec3 is Charterhouse’s third investment in Italy in 3 years and follows the acquisitions of DOC Generici (realised in May 2016) and Nuova Castelli in 2014.
Fineurop Soditic acted as financial advisor to Covisian, controlled by the private equity fund Aksìa Capital IV, in the acquisition of 100% stake in CSS S.p.A.
Founded in 1993, CSS is one of the major Italian player in the credit collection business and litigation management business. It employs 260 people and registered a turnover of Euro 10 million with an EBITDA margin of 16%. The Company has a portfolio of high profile clients among which UniCredit, TIM, Findomestic, Agos, Compass, Credem and Unipol.
Covisian, with a turnover of Euro 120 million, was born from the initiative of Aksìa Group SGR S.p.A. at the beginning of 2016, with the acquisition and integration of Visiant Contact and Contacta.
Through this investment Covisian strengthens its position in the credit collection business. The know-how of CSS, integrated with the expertise of Covisian, enables a complete offering for credit management.
The transaction is part of Covisian strategy that aims at growing both in Italy and abroad, through add-on acquisitions.
Fineurop Soditic acted as financial adviser to the UK based private equity fund HgCapital in the acquisition of Mobyt, an Italian provider of Application-to-Person SMS services to enterprises.
HgCapital has acquired approximately 82% of Mobyt for Euro 26.1 million from the previous shareholders who will partially reinvest in the Company.
HgCapital will launch a mandatory offer at Euro 2.5 per share to purchase the remaining shares.
Headquartered in Ferrara, Mobyt, is an Italian leader in mobile marketing and mobile services that provides companies with solutions for sending and receiving of SMS messaging services for information and advertising through a proprietary platform, connected directly to the main mobile operators Italian and French by dedicated lines. The Group also offers services of web advertising and sending professional email.
Mobyt operates worldwide through offices in Italy and abroad and generated 2015 sales of over Euro 25 million, with an EBITDA margin of approx. 14%.
HgCapital will support Mobyt grow internationally.
Fineurop Soditic acted as exclusive financial adviser to the private equity firm Aksìa Group, owner of the Covisian Group.
Covisian is the 3rd player in the Italian contact center industry, with a turnover of Euro 115 million.
The Group is also active in customer care, business process outsourcing and value-added services such as Big Data analysis, inbound and outbound marketing, back office and client social media monitoring.
In December 2015, Aksìa Group acquired a controlling stake in Contacta S.p.A. and Visiant Contact S.r.l., through Aksìa Capital IV, creating Covisian, a Group in which the 2 target companies are working together to develop a new and innovative project.
Covisian will use the MLT facility provided by Cariparma, BPM and GE Capital for internal needs and growth opportunities.
Fineurop Soditic acted as financial adviser to the International schools group Inspired Europe in the acquisition of the International School of Europe Group (ISE) from private equity house HIG Capital and the founding family.
Founded by the Formiga family in 1958, ISE is a leading group of schools in Italy that provides an outstanding education to over 1,800 local and expatriate students from 3 to 18 years of age in Milan, Modena, Monza and Siena.
Inspired is a leading operator of premium schools in Europe, Australia, Africa and South America and is backed by the education investment firm Educas.
The addition of ISE will expand the Inspired's global network to a total of 23 schools, providing an outstanding education to over 15,000 students.
ISE will join the Inspired community of schools that will create multiple opportunities for growth for ISE’s teachers and students providing a world class international education. As part of Inspired’s family of international schools, students and staff at ISE will benefit from the support of world-leading educational experts and access to state of the art learning platforms.
Fineurop Soditic acted as financial adviser to H.I.G. Europe, the European arm of global private equity firm H.I.G. Capital, in the acquisition of a controlling interest in Texbond.
The founder and Chairman of the Company as well as the CEO have invested in the transaction alongside H.I.G., providing management continuity as well as technical and strategic expertise to support the growth plans.
Founded in Rovereto in 1988, Texbond specialises in nonwovens for specialty applications in the hygienic, medical, construction, automotive, household and agricultural industries.
With its continuous investment in R&D and a constant focus on process efficiency and innovation, Texbond is currently one of the leading European producers of artificial fibres with a leading position in the development and manufacture of specialty products.
The Company employs around 65 people and generated 2015 sales of approx. Euro 40 million.
H.I.G. will support the development plan of Texbond through a buy and build strategy at a global level, mainly in Europe and the U.S.A.
Fineurop Soditic assisted as exclusive advisor Italiaonline S.p.A. in the sale of the business unit 1254 to Contacta S.p.A., owned by the Covisian Group, the 3rd player in the Contact Center and BPO in Italy.
Fineurop Soditic was selected in the context of the process issued by the Antitrust Authority post merger between SEAT Pagine Gialle and Italiaonline.
Created in 2005, 1254 is a directory assistance that provides Italian and international phone numbers and addresses of both individuals and companies, listed on national subscribers lists or sourced from publicly available information. The service is offered either via telephone or internet, on a 24/7 base.
Fineurop Soditic acted as financial advisor to the candies manufacturer Fida S.p.A. in the acquisition of 6 Italian confectionery brands including Rossana candies from Nestlè.
The deal implies the relocation of the production of Rossana and the other brands (including Fondenti, Glacia, Fruttallegre, Lemoncella e Spicchi) to Fida’s site located near Asti where they will join existing Fida brands including Bonelle, Sanagola, Charms, Gocce, Tenerezze, Gnammy and Le Irresistibili.
In 2015, the candy business of Nestlè recorded revenues for approximately Euro 20 million.
The deal will create technological, production and sales synergies for Fida, the sweets manufacturer established in 1973 and controlled by the Balconi family.
The acquisition is in line with Fida’s strategy to widen its product portfolio and it will enable the Company to strengthen its market position in Italy’s family candy market, where it currently controls around 3.5%, and abroad.
Fineurop Soditic assisted the Italian private equity firm specialized in environmental investments Ambienta in the acquisition of a further 40% stake in Ravelli Group from the Ravelli family, reaching total control of the Company.
Ravelli Group is an Italian pellet stove specialist with a comprehensive product portfolio. It operates an in-house manufacturing in Italy and boasts strong brand awareness in Italy and Europe, where it sells its products via a strong network of agents and distributors.
Ravelli employs approximately 150 people and generated 2014 sales of Euro 51 million, with an EBITDA margin of over 14%.
Ambienta purchased 60% of Ravelli in May 2010. It will further help Ravelli to accelerate and expand its business in Italy and abroad through growth in the countries where it already operates and penetration in new markets, even outside Europe.
Fineurop Soditic acted as financial advisor to Gruppo Ligabue and the majority shareholder in the sale of a minority stake previously owned by the private equity group Alcedo to Fondo Italiano di Investimento for Euro 14 million.
Earlier in 2010, Alcedo acquired a minority stake in Ligabue through the Fund Alcedo III.
Established in Venice in 1919, Ligabue supplies top quality catering and hotel services using edge technologies for every kind of ship, offshore drilling platform or large construction site.
Ligabue registered 2015 turnover of Euro 270 million, 80% of which generated abroad. It employs over 6,000 people in 14 countries: Brazil, Nigeria, Angola, Congo, Mozambique, Algeria, Italy, Switzerland, Netherland, Germany, Saudi Arabia, Kazakhstan, Russia and Peru.
The new partner will assist Ligabue in further expanding internationally and entering new business areas.
Fineurop Soditic acted as financial advisor to the private equity firm Aksìa Group in the acquisition of 100% stake of Lameplast COC Group.
The Group is the European leading provider of single-dose packaging and contract manufacturing, mainly used in the ophthalmic and healthcare segments.
Lameplast Group operates in Italy via Lameplast S.p.A. and COC Farmaceutici S.r.l. and in North America via a commercial branch in the United States. Founded in 1956 in Carpi (Modena), Lameplast produces single and multi-dose strips and other specialty plastic packaging with injection technology in a sterile environment. COC has plants in Carpi and near Bologna and operates as contract manufacturer for research, production and filling of pharmaceuticals and medical devices, both in single-dose and commercialized plastic containers.
In 2014, Lameplast COC Group reported sales of Euro 43 million with an EBITDA margin of around 17%.
Fineurop Soditic acted as financial adviser to the global private equity firm Permira in the acquisition of Arcaplanet from Motion Equity Partners.
Established in 1955, Arcaplanet is a leading pet stores retailer that operates a chain of approx.150 stores which sell over 10,000 SKUs, ranging from pet food to accessories and to healthcare products.
The Group has also developed its portfolio of four different owned brands: Start, Expecial, Next and HiFish.
In 2014, Arcaplanet Group launched its online retail activity.
In 2015, the Group generated revenues of Euro 137 million (+22% vs previous year).
The deal is expected to close by the end of June 2016.
Fineurop Soditic acted as sole financial adviser to Alcedo SGR in the acquisition, through the Alcedo IV fund, of a majority stake (55%) in EXA Group.
The founding managers will retain the remaining 45% stake in the Company.
Founded in 2005, EXA Group is a leading general contractor providing architecture, engineering and project management solutions mainly dedicated to the creation of retail shops in the Fashion & Luxury business. EXA Group is one of the main players in Europe and America, having built well-established relationships with the main famous luxury brands such as Gucci, Dolce & Gabbana and Tiffany.
Headquartered in Arezzo (Tuscany), EXA Group operates on international scale managing a wholly owned New York-based company and branches in Moscow and Central America, in 2015 generated consolidated revenues in the region of Euro 55 million.
Alcedo will support EXA Group in its expansion strategy through the creation of new subsidiaries, international add-on acquisitions and the entry in adjacent business segments, exporting its operating model in other markets.
Furthermore EXA Group plans to strengthen its management team in order to support such growth strategy.
Fineurop Soditic acted as financial adviser to Wise SGR S.p.A. and private investors (Di Iorio and Emdin families) in the acquisition of 100% stake in Controls Group from the Abacus fund and a group of long-term shareholders.
Controls Group, based in the outskirts of Milan, is a world leader in equipment for construction materials testing with a presence in more than 100 countries.
The Group generated a turnover of over Euro 40 million and employs approximately 135 people, 50% of whom abroad at Controls’ own subsidiaries in France, Great Britain, Spain, Poland, Iraq, Mexico and the U.S.A., as well as at the headquarters of IPC Global, an Australian company in which it holds a stake.
The project involves the development of the Group, together with current management, through investments aimed at both internal growth, with expansion into underserved markets – in particular the U.S.A. - as well as through acquisitions of complementary and synergistic companies.
This acquisiton is a significant step in the nearly 50-year history of Controls. Wise SGR’s entry in the Controls group creates optimal conditions for more rapid development, as well as the conditions for further growth of the management team to complete the planned generational changeover.
Fineurop Soditic acted as exclusive financial adviser to Ardian in the acquisition of F2A from Argos Soditic and the F2A management team which will invest a minority stake alongside Ardian.
F2A is a leading Italian player in the HR and administration services. It provides outsourced services in the personnel administration and accounting areas to Italian and multinational blue chip customers.
The F2A Group was created in 2006 through the integration of FIS (established in 1962 as a supplier of accounting and administration outsourced activities) and Antex (also founded in 1962, and active in the delivery of HR services).
The product offering includes HR services such as time and attendance records, processing and control of payroll, support in tax filing, HR management, expenses reporting and definition of HR budgeting.
F2A Group generated 2015 sales of Euro 50 million, it has approximately 1,500 customers and employs around 650 professionals in its 8 offices in Italy.
Ardian will support F2A in its expansion strategy by strengthening the current sales coverage in Italy to find new potential customers, and by helping the Group to explore build-up opportunities to consolidate the market, which is currently extremely fragmented.
Fineurop Soditic assisted the private equity firm Aksìa Group SGR S.p.A., which acquired through Aksìa Capital IV a controlling stake in Contacta S.p.A. and Visiant Contact S.r.l.
The transaction implies the acquisition of 100% of Visiant and Contacta through a holding company in which Aksìa Group will own a 55% stake, while the remaining will be held by Contacta’s and Visiant Contact’s previous shareholders.
The acquisition of both Visiant Contact and Contacta will enable Aksìa Group to create a new Group in which the 2 target companies will work together to develop a new and innovative project. It will be the 3rd player in the Italian contact center industry, with a combined turnover of Euro 115 million.
Founded in 2000, Visiant is among the top 5 Italian companies specialized in contact center services, customer care, business process outsourcing and value-added services such as Big Data analysis. It has 11 branches in Italy and Albania and high profile clients among which Fastweb, Google and Sky.
Headquartered in Turin, Contacta is a leading player in the Italian contact center and business process outsourcing service, inbound and outbound marketing, back office and client social media monitoring. It can count among its clients Che Banca!, ENEL, Agos Ducato and Lavazza.
Fineurop Soditic assisted Xenon Private Equity in the acquisition of De Wave S.r.l. from the Dellepiane family, in a management buy-out transaction in which the management invested a minority stake in the Company.
De Wave, created as a spin off of the Demont Group, is a leading refitting company in Italy and Europe. It has been active in the shipping business since 1993 with headquarters in Genoa and operations in Italy (Monfalcone and Battaglia Terme) and Lipno (Polonia).
De Wave offers new ship outfittings, refitting service, cabin systems and turnkey refitting solutions to both mega-yachts, cruise and military ships and generated 2014 sales of over Euro 46 million.
Xenon will support De Wave in its expansion through both internal growth and add on acquisitions.
Fineurop Soditic acted as exclusive financial advisor to Fratelli Fila S.p.A. in the acquisition of the Valstar brands.
Founded in 1911 in Milan, Valstar is an Italian manufacturer of high-end made in Italy jackets.
Fratelli Fila, established in 1906 as a wool mill is a privately held Italian fashion house which operates in the casualwear business.
Fineurop Soditic acted as exclusive financial adviser to Facile.it
Founded in 2008 and headquartered in Milan, Facile.it is Italy’s leading destination for consumers to compare prices for motor insurance, energy, telecoms and personal finance.
With a turnover of approximately Euro 35 million and thanks to strong relationships with all Italian online insurers and a huge customer base, Facile.it is the largest domestic (online and offline) motor insurance broker.
Capitalizing on its leading market position in car insurance and strong brand awareness, Facile.it has launched new product verticals in ADSL, gas & power, financial products and cellular.
Facile.it operates a multi-channel business model with sales channels including i) Web: completion of an online form after the review of available offers directly on the website; ii) Contact center: structured in two facilities located in Milan and Tirana (Albania) and iii) Field sale force: B2B/B2C sales realized through a network of independent agents.
The Group currently employees approximately 470 people between Italy and Albania.
In September 2014 Oakley Capital Private Equity, a fund with a strong experience in Technology, Media, Online transactional businesses across Europe, acquired a controlling stake in the Group alongside the original Founders and Management.
Fineurop Soditic acted as financial advisor to the private equity firm Apax Partners in the acquisition of Azelis Group from funds managed by 3i.
Azelis Group is a leading global distributor of specialty chemicals and related services.
3i and funds managed by 3i acquired a majority stake in Azelis in 2007. Since then the Company has transformed from a decentralised European business into an integrated group, operating under the Azelis brand, serving customers and principals in the coatings, chemicals, rubber and plastic additives, food and health, animal nutrition, pharma and personal care industries.
During this period, Azelis has grown both organically and through acquisitions, significantly expanding its geographic footprint in the UK, Benelux, and Central and Eastern Europe. It has also successfully entered the Asian chemical distribution market, opening several offices in China, Japan and South-East Asia. Substantial operational improvements were also implemented across the organisation.
Azelis achieves a worldwide turnover of 1 billion Euro and employs around 1100 staff in 34 countries, including in Europe, China, Australia, Canada, India, Japan and Malaysia. In Germany, Azelis is represented at locations in Krefeld, Moers and Sankt Augustin, where it is particularly active in the pharma, personal care and food ingredient industries along with the distribution of chemicals.
Apax Partners, together with the existing management team, intends to continue Azelis' strategic focus on growing the business through ongoing development of its specialist product portfolio and continuing to extend its global reach, both organically and through acquisitions.
Fineurop Soditic acted as exclusive financial advisor to Ceva Logistics, one of the world’s leading non-asset based supply chain management companies, in the sale of Spedizioni internazionali Trasporti Terrestri Aerei e Marittimi (SITTAM) to La Petrolifera Italo Rumena, a subsidiary of Gruppo PIR.
The transaction has been supported by Sittam’s management.
Based in Cornaredo (Milan), Sittam is active in international groupage, recognised as a market leader in Italy, due to the quality, flexibility and reliability of its groupage services (consolidating small shipments into larger loads) in international land transport.
The Company has 9 branches in Italy and covers Europe through regular services and a network of agents in many countries, among others Germany, Austria, France, Spain, Turkey and Eastern Europe.
Sittam was part of TNT when this latter was sold to Apollo Global Management in 2006 and was later renamed CEVA Logistics; the Company continued to operate under its own brand, under the umbrella of CEVA’s market-leading logistics business in Italy, collaborating on mutual business opportunities.
Owned by the Ottolenghi family, La Petrolifera Italo Rumena operates as bonded warehouse, in Porto Corsini, Ravenna, storage and handling activities of chemicals, petrochemicals, oil and liquids products. This acquisition allows PIR to enter the logistics land transport business.
Fineurop Soditic acted as exclusive financial advisor to the Shareholders of DentalPro (DP Group S.r.l.) in the sale of a majority stake of the Company to the US-based private equity firm Summit Partners.
Existing DentalPro shareholder, VAM Investments reinvested in the transaction, as did CEO and founder Michel Cohen.
Founded in 2010 and headquartered in Milan, DentalPro owns and operates 30 full-service clinics across Italy, most of which located primarily in shopping malls. Each clinic provides a full range of high-quality dental services, from general dentistry to more sophisticated implants, prosthesis and orthodontics. DentalPro partners with local dentists and provides them with comprehensive practice management support as well as training, which allows the practitioners to focus on providing high-quality care. Today, more than 200 dentists are part of the DentalPro network.
DentalPro will continue its rapid expansion in the Italian dental care sector, with the backing of Summit Partners which has had significant experience in the healthcare sector over the past 31 years.
Fineurop Soditic acted as exclusive financial advisor to Dada S.p.A., a leading player in the online presence digital services listed on the Milan Stock Exchange, in the sale of Moqu Adv S.r.l. to Italiaonline S.p.A..
Italiaonline acquired from Dada 100% of the share capital of Moqu, which includes a wholly owned subsidiary in Ireland, Moqu Adv Ireland Ltd, for a cash consideration plus a variable part of the price ("earn-out"), based on the results of the Moqu Group in 2015.
In 2014, Moqu, active in the performance advertising business, achieved revenues of approximately Euro 8.5 million and an EBITDA margin of around 7%. It currently employs about 20 people, based in Florence and Dublin.
The transaction is part of the announced strategy of the Dada Group to focus on the core business of digital services for SMEs, and it aims at further strengthening Dada’s role as a top European player in the business of domain name registration, hosting, servers and advanced communication tools, as well as in the online brand protection and enhancement.
Fineurop Soditic acted as exclusive financial advisor to the shareholders of IBF S.p.A. in the sale of a controlling stake to TUBACEX, the world’s second largest manufacturer of seamless stainless steel tubes.
IBF, founded in 1979, is a leading manufacturer of high alloy stainless steel tubes and special fittings. It is a reputed global supplier of customized tube solutions for the leading companies in oil and gas extraction (sub-sea, top-side and on-shore), power generation (conventional and nuclear), as well as for the petrochemical industry and LNG.
IBF has 7 production facilities located in northern Italy as well as a joint venture in the Chinese company, JSI Ltd, set up with two local firms. JSI manufactures thick walled piping components and fittings in China for the Chinese nuclear market.
IBF employs around 300 people and has revenues of ca. Euro 135 million. 50% of its 2013 turnover was made in Asia, 30% in Europe and approximately 20% in North America.
Pursuant to this acquisition IBF will benefit from TUBACEX international network and will integrate the product range of the Spanish manufacturer with its own offering, strengthening its competitive position by being able to offer both tubes and fittings.
The Group will become a leading global tubular solutions provider and will enter, with a leading position, into the pipe accessories market (fittings, elbows, tees, caps, etc.).
Fineurop Soditic acted as exclusive financial adviser to Comdata in the acquisition of a 100% stake in Atento Česká republika a.s. from the NYSE listed Company Atento.
Atento is the largest provider of customer relationship management and business process outsourcing services in Latin America and Spain, and among the top 3 providers globally.
The target company owns Atento's operations in the Czech Republic.
The acquisition allows Comdata Group to strengthen its activities such as back office customer management, contact center, document management and customer payments in the Eastern Europe.
Fineurop Soditic acted as exclusive financial advisor to Rhiag Group, European leading player in the automotive aftermarket business and owned by Apax Partners, in the acquisition of a 100% stake in Era from Alcedo SGR and the founding partners.
Founded in Moncalieri (Turin), Era is a leading distributor of electrical and electronic parts in the after-market car sector, with a catalogue of around 11,000 products distributed in over 90 countries in the world.
Era registered 2013 sales of Euro 40 million (60% of which generated by export), with an EBITDA margin of 16% and it is expected to reach 2014 sales of Euro 42 million.
The acquisition will allow Era to strengthen its competitive position both in the domestic and international markets.
Fineurop Soditic acted as financial adviser to the Swiss private equity operator Capvis Equity Partners AG, in the acquisition of Faster S.p.A. from Argan Capital, in a secondary buy out transaction. The Company’s management will invest in Faster alongside Capvis.
Established near Milan in 1952, Faster is a leading manufacturer of quick-release hydraulic couplings and multi-couplings for medium- to high-pressure applications such as agricultural, construction equipment and oil&gas.
Faster has around 400 employees and Faster has a strong presence in USA and in emerging markets (mainly China, India and Brazil) and generated 2013 sales of Euro 85 million, with an EBITDA margin of 13.4%.
With the support of Capvis, Faster will further expand its international footprint and will extend its product range.
Fineurop Soditic acted as exclusive financial advisor to Biolchim S.p.A., portfolio company of Wisequity III, in the acquisition of Cifo S.p.A.
Biolchim is a portfolio company of the Italian mid market private equity fund Wisequity III.
In January 2013, Wise acquired Biolchim from financial investors Imi Fondi Chiusi, Assietta Private Equity and Arca Impresa Gestioni.
Established in Bologna in 1965, Cifo is a speciality fertilizer producer active in both the home&garden and professional agriculture markets.
In 2013 Cifo registered sales of Euro 28 million and distributes its products in over 50 countries worldwide.
The deal will create an Italian pole of specialty fertilizers with combined turnover of Euro 75 million. The Group will invest in product development and expansion into new markets.
Fineurop Soditic acted as exclusive financial advisor to the private equity firm Ardian in the acquisition, together with the Management team, of 100% stake in Italmatch Chemicals from Mandarin Capital Partners and other investors.
Established in 1997 and headquartered in Genoa, the company is a leading innovative Chemical Group, specialized in performance additives for the lubricant, plastics, water & oil markets.
Italmatch Chemicals runs 5 production sites in Europe (Italy, Germany, UK and Spain) and production facilities in joint-ventures in Asia (China and Japan).
In 2014 Italmatch has posted exceptional level of growth over the last five years, with sales forecast of around Euro 250 million (90% of which generated abroad) more than double compared to 2012, with an EBITDA in excess of Euro 30 million.
The deal represents the fourth investment executed in Italy by Ardian’s mid cap buyout team.
Ardian will work in partnership with the Management team in order to identify and pursue further international development opportunities.
Fineurop Soditic acted as exclusive financial advisor to the private equity fund Ergon Capital Partners III in the acquisition of approximately 66% stake in Ipe S.r.l. from Alto Partners and the company’s management in a secondary buy out transaction.
The Sellers will reinvest in the company.
Headquartered near Bologna, Ipe is a leading Italian luxury firm, owner of the brand Visionnaire.
The Company distributes its luxury furniture items worldwide in over 50 countries through 13 flaship stores and show rooms in strategic markets such as Italy, China, Singapore, Russia, Turkey and in the Middle East. Visionnaire’s solutions are sold through a wide network composed of more than 600 mono and multi brand stores as well as over 1,000 architectural firms and interior design showrooms.
Ipe generated 2013 sales of Euro 35 million, increased by 16% on 2012, with an EBITDA margin of over 20%.
Export represents 80% of revenue.
The transaction will allow Ipe to improve its presence in countries such as France, UK, USA and Benelux region, where the main shareholder benefits from important relationships.
Fineurop Soditic acted as exclusive financial adviser to the private equity firm Alto Partners S.G.R. S.p.A., in the sale of a 100% stake in Caminetti Montegrappa S.p.A. to the French group Invicta, controlled by Qualium Investissement.
Established in the outskirts of Vicenza in 1976, Caminetti Montegrappa is among the European leading manufacturers and distributors of fireplaces and stoves, mainly under the brands “Caminetti Montegrappa” and “CMG”.
The Company has a total workforce of approximately 100 people and reached a 2013 sales of over Euro 32 million, 40% of which coming from exports.
The integration with Invicta Group will allow Caminetti Montegrappa to improve its growth potential in the domestic and foreign markets.
General S.r.l., headquartered in Querceta di Seravezza (Lucca), tookover part of Dayli Group’s assets (former Schlecker). Fineurop Soditic acted as exclusive advisor to General S.r.l., leading player in the distribution of household and personal care products in Italy, under the Ipersoap brand.
Dayli, based in Pucking (Austria), is a retail chain focused on personal care and household products. Dayli has 300 outlets and a workforce of around 1,000 people in Italy.
In September 2013, as a consequence of a long period of financial crisis, Daily was put into liquidation and filed a request for the “Concordato Preventivo” procedure with the Udine Court.
Fineurop Soditic acted as financial advisor to E.G.O. Blanc und Fisher & Co. GmbH in the acquisition of Defendi Group.
Established in the province of Ancona in 1954, Defendi produces and exports worldwide technical components for gas run cooking equipment such as burners, injectors, injector holders, special nuts, igniters and thermocouples. Defendi operates 2 high technological production plants in Italy and Brazil, it has a workforce of 270 people and recorded 2012 sales of Euro 60 million.
E.G.O. is an international high-tech company and one of the leading global manufacturers of domestic appliance technology, components and products. The Group has subsidiaries in 16 countries and recorded 2012 sales of Euro 526 million.
The two groups are highly complementary in terms of both international presence and growth strategy; Defendi’s products will contribute to complete E.G.O.’s wide range of products.
Fineurop Soditic acted as financial advisor to the global private equity firm Apax Partners in the acquisition of Rhiag-Inter Auto Parts Italia S.p.A. from the European private equity firm Alpha.
Rhiag is the leading distributor of branded automotive spare parts in the independent Italian aftermarket and one of the largest players across Eastern Europe where it operates through a network of subsidiaries. Rhiag buys and distributes a wide range of products (including mechanical parts and electrical parts) to local wholesalers and garages.
Rhiag also offers value added services and specialised training modules to its clients and garages in order to increase their loyalty.
In 2012 Rhiag reported sales of approximately Euro 700 million, 49% of which generated in Italy, while Switzerland and Eastern Europe (Czech Republic, Slovakia, Hungary, Romania, Ukraine and Poland) represented the remaining 51%.
The agreement will further enable Rhiag to consolidate its position as one of the largest players in the independent automotive aftermarket across Italy, Switzerland and Eastern Europe.
Fineurop Soditic acted as exclusive M&A adviser to Wittur Holding GmbH, the Germany based solutions provider for components, modules and systems for the lift industry, in relation to the sale of its subsidiary Wittur Hydraulic Drives S.r.l. to the Management.
The Wittur Group operates 10 production plants, serving its customers through a wide sales network which operates in more than 20 countries worldwide. Wittur’s products portfolio includes, among others, doors, safety devices, overspeed governors, cars, slings, counterweight frames and lift machines designed for new installation as well as for modernisation projects.
Wittur Hydraulic Drives S.r.l., headquartered in the outskirts of Bergamo, manufactures and distributes technological hydraulic equipment, mainly addressed to the lift industry.
This transaction is in line with Wittur Group strategic guidelines to leverage on its key capabilities focusing on the core business.
Fineurop Soditic acted as M&A and debt adviser to Comdata, a leading Italian player in customer operations BPO (Business Process Outsourcing), for the acquisition of a 100% stake in the Turkish company Callus Bilgi ve Iletişim Hizmetleri A. Ş.
Headquartered in Istanbul, Callus provides contact center, help desk, back office and credit management services.
Callus employs over 1,000 people in the two operational sites of Istanbul and Samsun, with a revenue generation for 2012 in the region of Euro 20 million.
Fineurop Soditic acted as exclusive financial advisor to private equity fund Progressio SGR in the sale of the entire stake in Rondine Group to Seramiksan.
Established in the ceramic’s district of Reggio Emilia in 1961, Rondine is a leading industrial Group active in the production of porcelain stoneware tiles for floors, walls and skirtings, with over 100 collections and 4 main brands: RHS, Fontana Bismantova, Sadon and Maioliche dell’Umbria.
In 2012 Rondine reported sales of around Euro 55 million and currently employs 286 people.
Seramiksan, headquartered in Turkey, is a leading player in the porcelain stoneware tiles business.
Seramiksan will support Rondine’s expansion into international markets.
Fineurop Soditic acted as exclusive financial adviser to the Sellers in the sale of Plastiape to Italian private equity fund PM & Partners.
The company's management team along with the founding families reinvested in the company as part of the secondary buy-out.
Established near Lecco in 1970, Plastiape is leading Italian player in manufacturing of medical devices and packaging solutions for the pharmaceutical and cosmetic sectors.
The firm has facilities in Italy and Poland. It registered 2012 revenues in the region of Euro 50 million, 70% of which generated by export, and employs 283 people.
Aksia Group acquired a majority stake in Plastiape in 2008.
PM & Partners will support Plastiape’s growth as well as further international expansion.
Fineurop Soditic advised private equity fund Argos Soditic in the acquisition of a controlling stake in Via delle Perle.
Founded in 1984 in Carpi (near Modena), the Company is a leading women’s fashion retailer which distributes 4 total look product lines: Vdp Collection, Vdp Gym Couture, Vdp Club and Vdp beach.
In 2011 Via delle Perle posted sales of Euro 36 million and employs around 30 people.
Argos Soditic will run this transaction in the name of continuity; the founding family still owns a minority stake in Via delle Perle.
This acquisition represents Argos Soditic’s first investment in the fashion retail business.
Fineurop Soditic acted as exclusive financial advisor to Generale Conserve S.p.A. in the acquisition of brand and business of Manzotin from Bolton Alimentari S.p.A..
Headquartered in Genoa and with plants in Sardinia, Generale Conserve manufactures and distributes canned fish products under different brands among which the main brand Asdomar, leading player in the tuna high quality canned products.
Manzotin is engaged in the production and distribution of canned meat in jelly and is expected to generate 2013 sales of Euro 19 million.
This acquisition will allow Generale Conserve to consolidate and diversifying its activities in the canned products market. The Company will expand its portfolio and will use its know how to create synergies among its businesses.
Fineurop Soditic acted as exclusive financial advisor to Invima to take over the engineering and machinery divisions of IPA International's industrial business.
The sale has been formally executed after the approval of Concordato Preventivo procedure.
IPA is a company specialized in heavy clay plant engineering, that operates through 2 main divisions: Engineering Division (San Damiano - Asti), Machinery Division (Cadoneghe - Padua).
The Company is mainly active in development countries such as Northern Africa and Eastern Europe and it generated 2012 sales of approximately Euro 13.7 million.
Fineurop Soditic acted as exclusive M&A adviser to private equity fund Stirling Square Capital Partners and the Company’s Management in the acquisition of a 100% stake of Cartonplast Group from Synergo SGR and of the remaining 50% stake in Cartonplast’s Madrid-based Iberian subsidiary not already owned by the Group.
Cartonplast is the European market leader for the processing and servicing of plastic layer pads (PLPs) used in the food and beverage industry for transporting glass containers.
Headquartered in Dietzenbach, Germany, Cartonplast employs over 400 people in 9 countries, with 14 service centres across Europe and generated over Euro 50 million sales in 2011. The company delivers PLPs to 133 glass manufacturers in 19 countries, delivering to about 4,000 fillers.
Stirling Square will offer an international perspective for the future development of Cartonplast’s business, both across Europe and in important new, growth markets such as Asia and Latin America.
Fineurop Soditic advised private equity fund Wise SGR in the acquisition, in co-investment with the Company’s management team, of a 100% stake in Biolchim S.p.A. from private equity funds Imi Fondi Chiusi, Assietta Private Equity and Arca.
Founded in 1972, Biolchim S.p.A. is a leading Italian company in the production and distribution of special fertilizers and it is considered among the most dynamic players on the international markets.
In 2011, the company posted sales of Euro 38 million, 50% of which generated by export, with an EBITDA of over Euro 4 million.
Wise, together with the Company’s management, will support Biolchim’s strategy which is focused on a domestic and international expansion, through internal growth as well as add on acquisitions.
Fineurop Soditic assisted private equity funds Arca Impresa Gestioni and MPVenture inthe sale of total control of Cadey to a Strategic Investor.
Cadey is a leading brand in the personal care business. It owns Staminaline (cell constructor body creams), Bilba (haircare), Bilboa (sun tan lotions), Cambia Pelle, Depilsoap and SenoAlto brands.
The Company generated 2011 sales of Euro 30 million.
Fineurop Soditic acted as exclusive financial advisor to private equity funds Arca Impresa Gestioni and Imi Fondi Chiusi SGR in the sale of Blumen S.p.A. to IGI SGR S.p.A. and other investors in a secondary buy out transaction valued at around Euro 35 million (EV). IMI Fondi Chiusi and the Company’s Management reinvested in the Company.
Blumen, founded in Piacenza in 1980, is among the European leading players in the development, marketing and distribution of vegetable, flower and lawn seeds and garden products to retailers. The Company’s products are mainly addressed to hobby gardeners and to semi-professional customers.
Blumen employs around 70 people, and it is expected to generate 2012 sales of Euro 30 million with an EBITDA of around Euro 5 million.
Fineurop Soditic acted as exclusive financial advisor to Tesa S.p.A. and CGT - Compagnia Italiana Trattori S.p.A. in the sale of a 100% stake of Generale Energia S.p.A. “Genergia” to Heat & Power S.r.l., company focused on high efficiency energy production.
Since 1934, CGT has been the Caterpillar licensee in Italy. Thanks to 25 subsidiaries and a workforce of around 1000 people, CGT is an Italian leading player in the sale of generator sets, UPS systems and engines and the pertaining after-market activities.
Genergia, located in the outskirts of Milan, is an Energy Service Company active in the production and supply of integrated energy services, able to reach energy saving and efficiency.
The Company generated 2011 sales of approximately Euro 10 million with an EBITDA of around Euro 2 million.
Fineurop Soditic acted as exclusive financial advisor to Castagna-Univel S.p.A. to take over the industrial business of Filca S.p.A. (Fabbrica Italiana Lavorazione Carta ed Affini) and Fineurop Soditic acted as its exclusive financial advisor.
The acquirer has agreed to first rent Filca’s business, which was put into receivership in 2010, with a commitment to buy the Company later, in order to enable the safeguard of all the employees of the Company.
Since 1947 Castagna Univel has been producing materials to pack fresh food (such as salted meat, cheese and fish), deep frozen food and pre-cooked aliments.
Its activity is mainly focused on printing and coupling flexible materials.
The Company has a workforce of around 60 people and generated 2011 sales of approximately Euro 22 million.
Founded in the province of Vercelli in 1962, FILCA is specialised in the design, processing, printing, laminating and sale of flexible packaging for food (such as snacks and chips, confectionary and ice cream). The Company generated 2011 sales of Euro 13 million.
Fineurop Soditic acted as exclusive financial advisor to Intercos in the sale of its cosmetic specialty store chain Madina to Gruppo Percassi.
Founded in Milan in 1994, Madina distributes innovative makeup products branded Madina Milano and Madina R(evol)ution through a distribution network of 6 monobrand stores in Northern Italy.
Through this acquisition, Gruppo Percassi, owner of the cosmetic brand Kiko, will further strengthen its position in Italy in the makeup specialty stores sector.
Fineurop Soditic acted as exclusive financial advisor to Charme II, private equity fund managed by Montezemolo & Partners SGR S.p.A., in the acquisition of a 100% stake in Bellco S.r.l. from Argos Soditic (58%), MPVenture SGR (32%) and the Management (10%) for around Euro 100 million.
The transaction has been carried out through a secondary buy out transaction in which Bellco management re-invested in the Company.
Established in 1972 near Bologna, the company is among the top worldwide leaders in the haemodialysis medical equipment business. It is a European leading manufacturer and distributors of dialyzers, fluids, machines and hematic lines for the treatment of renal pathologies.
Bellco generated 2011 sales of approximately Euro 110 million and an EBITDA of around 17 million.
Bellco has 4 direct subsidiaries abroad (Canada, France, Spain and Belgique) and around 54% of its turnover is generated by export.
The new investor will sustain Bellco in its international growth as well as market consolidation through new highly-technological and innovative products, fully complying with product and market strategies that have featured the last three years of success.
Fineurop Soditic acted as exclusive financial advisor to Dada S.p.A., company listed on the Milan SE, in the disposal of its subsidiary Dada.net S.p.A. to Buongiorno S.p.A., a leading provider in mobile content listed on the Milan Stock Exchange.
The settlement price for the acquisition of Dada.net S.p.A. is equivalent to Euro 28.5 million, in addition to the consolidated net financial position of Dada.net at the specified closing date, from which will be excluded the net financial position of Giglio Group.
Dada.net is a pioneer in the digital entertainment sector and ranks as one of the world market leaders in the mobile Value Added Services (“VAS”). The unique nature of the Company’s services is the convergence of a wide number of applications and a rich library of content, from entertainment to social networking, music platform and online gaming, accessible via PC and mobile. The Company has more than 5.8 million paying customers worldwide.
In 2010, the overall revenue of Dada.net was Euro 76 million with an EBITDA of around Euro 10 million.
The acquisition of Dada.net is fully in line with the strategic objectives of Buongiorno, aimed at growing the business through both market share in “traditional” B2C and B2B services, and through new service development, particularly in the smartphone and App Store sectors.
The transaction is also in line with Dada's announced strategy to rationalize its asset portfolio.
Fineurop Soditic acted as exclusive financial advisor to Duplomatic Oleodinamica, controlled by AXA Private Equity, in the acquisition of hydraulic components division of Continental Machines Inc.
The acquisition was effected through Duplomatic’s wholly owned US subsidiary Continental Hydraulics Incorporated.
Founded in 1929 in Minneapolis, Continental Machines Inc. began producing hydraulic components (mainly valves, as well as vane and piston pumps) in 1949, initially making these products for its internal machine tool production but subsequently (1962) for sale to third parties. The hydraulic components division, which recorded a turnover of USD 18.4 million in 2010, markets its products across the US through an established network of distributors.
The acquisition was financed through a capital increase at Duplomatic Oleodinamica, subscribed by the majority shareholder AXA Private Equity, which entered the Company’s capital in 2008, by 3 of the Italian managers, 2 of whom are already shareholders in Duplomatic, and 2 top former managers of Continental.
As a result of this acquisition, Duplomatic, based near Milan and manufacturer of hydraulic valves primarily for industrial applications, has entered the US market – the biggest in the world in the field of hydraulics – through a very well-known brand in the sector and a firmly established network of distributors. The integration strategy between the two companies aims to expand the hydraulic components division’s catalogue, by adding Duplomatic products, and to launch joint sales initiatives aimed at maximising the potential synergies arising from the combination.
AXA Private Equity will support Duplomatic in implementing this major acquisition in the US, which is consistent with the Private Equity’s strategy focused on speeding up the development and internationalisation of its investee companies.
Fineurop Soditic acted as exclusive financial advisor to CNPEF (Cape Natexis Private Equity Fund) in the sale of a minority stake in Ares Line S.r.l. to Zeta S.r.l. for around Euro 5 million.
Ares Line, established in 1987, is specialized in the production of top quality office and waiting seating and seating for communication areas and auditoriums with high design content, thanks to the cooperation with prestigious designers.
The Group, headquartered near Vicenza, has a total workforce of approximately 80 employees.
The Group recorded in 2010 a total turnover higher than Euro 14 million with an Ebitda margin of approximately 16%.
During the last years, the Company has strengthened its position through an important strategy that involves distribution and production differentiation. The Company created a production and distribution units in strategic geographical areas such as Latin America.
Fineurop Soditic acted as financial advisor to Globe Events Management (GEM), a portfolio company of private equity fund Orlando Italy Management S.A., in the acquisition of PLS Educational.
PLS Educational is an event management company focused on the medical and scientific conferences, founded in Florence by the Cammi family.
The Company registered 2010 sales of approximately Euro 10 million, with an Ebitda margin of 13%.
GEM, is the Italian leader in event management business. Established in 2009 through the merge of Fonema Group, Grandi Eventi and Centro Congressi Internazionale, and the investment of Orlando Italy, GEM has offices in Rome, Milan and Turin.
Post acquisition GEM will gain PLS historical headquarter in Florence and an additional office in Milan. GEM will employ over 140 people and will generate annual revenues of Euro 80 million.
Fineurop Soditic acted as financial advisor to UK based private equity fund Change Capital Partners in the acquisition of the majority stake of Vesevo S.p.A. in a SBO-MBO transaction from the founders/managers and from Italian private equity fund Quadrivio.
The Company, which manages Rossopomodoro, Anema e Cozze and Rossosapore, restaurant and take away chains, has been valued at around Euro 53.5 million.
The Company’s founders/management will remain with a consistent minority stake, while Quadrivio will reinvest a small stake in Vesevo.
Vesevo currently has more than100 restaurants, mainly in Italy and it manages restaurants in London and in U.S.A..
The Company is expected to fastly penetrate, both for Rossopomodoro and Rossosapore brands, the international foodservice market with the operative support of Change Capital which can bring long lasting experience and high competences in the retail industry.
Fineurop Soditic acted as exclusive financial advisor to private investors in the took over of engineering and machinery divisions of IPA International's industrial business.
IPA is a company specialized in heavy clay plant engineering, that operates through 2 main divisions: Engineering Division (San Damiano - Asti), Machinery Division (Cadoneghe - Padua).
The Company is mainly active in development countries such as Northern Africa and Eastern Europe and it generated 2009 sales of approximately Euro 22 million.
Fineurop Soditic assisted Artsana Group, owner of the brand Pic Solution, in the acquisition of a controlling stake in Pharmagammes, French exclusive distributor of Pic’s products in France.
Pic is the Italian leading player in the self care medical devices sector.
The transaction, in line with Artsana Group’s developing strategy, will further contribute to consolidate the Group’s position in European strategic markets.
Fineurop Soditic acted as exclusive financial adviser to Investindustrial in the sale of a 100% stake of Italmatch Chemicals to Mandarin Capital Partners, the Chinese-Italian private equity fund, the Company’s Management and the Malacalza family which recently invested also in Camfin and GPI.
The LMBO transaction has been valued at around Euro 100 million.
Italmatch is a world leading player in the phosphorus derivatives and speciality chemicals. The Company has a workforce of 320 people and it is expected to generate 2010 sales of Euro 90 million.
In the next few years Italmatch, thanks to the support of its new shareholders, has the aim to strongly develop its activity in the Asian market as well as in the US.
Fineurop Soditic acted as financial advisor to Aksia Group SGR and Wise SGR in the acquisition of a 60% stake in EidosMedia through a LMBO transaction, while the Company’s Management will hold the remaining 40% stake.
Founded in 1999, EidosMedia is a leading provider of cross media publishing solutions, serving the most prestigious newspapers and publishing groups throughout the world such as RCS Media-Group, Il Sole 24 Ore, Financial Times, The Wall Street Journal, The Washington Post, and Le Figaro.
The Company has a workforce of around 100 people and generated sales in excess of Euro 27 million.
The financial investors will drive and further enhance EidosMedia’s growth, especially in the international markets.
Fineurop Soditic acted as exclusive financial adviser to CIFA S.p.A (Compagnia Italiana Forme Acciaio) world leading manufacturer of concrete machinery, obtaining a Euro 280 million financing.
Zoomlion Heavy Industry Science & Technology Development Co. Ltd, main shareholder of CIFA, is a world leading player in the construction equipment manufacturing.
The Company is based in Changsha (Cina) and listed on Shenzen Stock Exchange.
CIFA has received Euro 280 million in medium term financing from Bank of China Milan and Bank of Communication Frankfurt.
The loan will allow Cifa to refinance its debt and give impetus to international development.
Castagna-Univel S.p.A. took over the industrial business of Filca S.p.A. (Fabbrica Italiana Lavorazione Carta ed Affini) and Fineurop Soditic acted as its exclusive financial advisor.
Since 1947 Castagna Univel produces materials to pack fresh food (such as salted meat, cheese and fish), deep frozen food and pre-cooked aliments.
Its activity is mainly focused on printing and coupling flexible materials.
The Company has a workforce of around 60 people and generated 2009 sales of approximately Euro 20 million.
Founded in the province of Vercelli in 1962, FILCA is specialised in the design, processing, printing, laminating and sale of flexible packaging for food (such as snacks and chips, confectionary and ice cream). The Company generated 2009 sales of Euro 23 million.
Fineurop Soditic acted as financial advisor to Catelli Holding in the disposal of a 100% stake of Gram Equipment A/S, a Danish based global leading supplier of advanced ice cream machines, to Scandinavian private equity fund Procuritas Capital Investors IV (PCI IV) focused on mid-sized companies in the Nordic Region.
Established in 1901, Gram Equipment is a leading supplier of ice cream equipment globally. The company is headquartered in Vojens, southern Denmark, together with the main factory, development section and the main sales organization. The company also has operations in the US and Italy, with additional sales offices spread over the globe. Gram Equipment has a fully comprehensive range of solutions for their customers, from individual machines to complete production facilities. Gram Equipment’s turnover is approximately Euro 30 million and it employs about 150 people.
Fineurop Soditic acted as financial advisor to Fellifin Holding and investment fund Microcap Italian Holding in the rent and further acquisition of the industrial business of Europack Cables Industries.
The Company, based near Ravenna, registered sales of Euro 15 million and it is European leading player in the production and distribution of coaxial and satellite high quality cables.
The buyers have agreed to first rent Europack’s business, which was put into receivership at the beginning of the month, with a commitment to buy it at a later stage. The acquirers have enabled the safeguard of all the employees of the Company in Italy and in China.
The deal is subject to the approval of the Court, which is expected before year-end.
Fineurop Soditic assisted Idroexpert S.p.A. in the rent and further acquisition of Bozzola S.p.A.’s business from the Padua Court through arrangement with creditors.
Bozzola, established in Padua in 1910, is specialised in the production and distribution of hydrosanitary products and gardening tools. The Company generated 2008 sales of approximately Euro 100 million.
Idroexpert based in Cervia (Ravenna), is a leading player in the logistic and distribution of hydrosanitary products with around 220 wharehouses in Italy.
Idroexpert agreed to rent the Bozzola business, including the majority of its retail shops, in September 2008, after Bozzola was put into liquidation in July 2008 as a consequence of a long period of financial crisis.
Fineurop Soditic successfully concluded its advise of senior debt renegotiation and covenants resetting to Bianchi Vending Group. On this purpose, shareholders converted the shareholder loan amounting to Euro 37 million to equity and made a capital injection for Euro 13 million, giving to the Company a sustainable long-term capital structure. BVG, based near Bergamo, is the second largest European manufacturer and distributor of vending machines with a market share of around 12% in Europe. BVG posted 2008 consolidated sales of Euro 86 million and it has a workforce of about 550 people. The Company is owned by FA Capital SpA, an investment holding company majority owned by secondary funds managed by Goldman Sachs. FA Capital acquired BVG last December in a secondary buy out transaction from ABN AMRO Capital.
Fineurop Soditic acted as exclusive financial advisor to the Artsana Group in the sale of the business and brand Korff to the Istituto Ganassini Ricerche Biochimiche. Korff is active in the beauty care and cosmetics business and distributes its products both in the domestic and foreign markets. The product range is mainly divided into three main categories: treatment, make-up and solar care products. Korff was acquired back in 1996 by the Artsana Group.
This transaction will enable the Artsana Group to concentrate on its core activities.
Fineurop Soditic acted as financial advisor to noodls in the sale of a minority stake to Innogest Capital through a capital increase.
noodls is a global press release aggregator created to deliver a web 2.0 framework for secure and reliable communication between organizations, the Media and their stakeholders.
With its unique coverage of over 20.000 leading organizations from 133 countries noodls is a leading player in its fields and the only full-coverage, real-time, global press release newswire available in the market today. The Company has also a professional networking platform designed to meet the specific needs of the media and public relations industry.
Noodls' goal is to gain a leading position in the press release and company announcements distribution network becoming the default connector between organizations and their
Fineurop Soditic acted as exclusive financial advisor to Euticals’ shareholders in the sale of a majority stake of the Company to Mandarin Capital Partners, the largest Chinese-Italian private equity fund, in a leveraged management buy out transaction, for a total consideration of around Euro 70 million.
Euticals, based in Lodi, is a leading chemical pharmaceutical company involved in the development and production of intermediates and active pharmaceutical ingredients with different production technologies.
Euticals reported annual revenues of Euro 50 million, with an Ebitda of Euro 10 million.
Mandarin Capital will support Euticals’ strategy aiming to double the Company’s turnover in the next 3-4 years also through add on acquisitions of Chinese companies active in the chemical- pharmaceutical business.
Fineurop Soditic assisted private equity fund Wise SGR in the sale of Selesta Ingegneria.
AVM Private Equity I acquired a 76% stake in Selesta Ingegneria in a secondary buy out transaction from Wise Equity in a deal valued at around Euro 45 million of Enterprise Value.
Under the terms of the agreement BNL (BNP Paribas Group) acquired a 10% stake in Selesta Ingegneria and the Company’s management increased its stake up to approximately 14%.
Selesta Ingegneria is considered the Italian leader in the development, production, distribution and installation of integrated systems, hardware and software for mainly Access Control and Time & Attendance.
The Company, with an historical Ebitda profitability between 25-30%, is expected to register 2008 sales of about Euro 28 million.
Through this acquisition AVM Private Equity I aims at developing Selesta Ingegneria through both add-on acquisitions in Italy and abroad and new technological projects.
Fineurop Soditic assisted private equity fund Sinergia con Imprenditori in the acquisition of a 75% stake in Cartonplast Trading Gmbh.
Cartonplast Trading is Karton’s German subsidiary, active in supplying and cleaning reusable layer pads made of plastic, addressed to the glass industry.
This transaction is part of Karton S.p.A.’s strategic plan focused on improving productive performances and also includes the acquisition of a 49% stake in the Newco Cartonplast Italia S.p.A., carried out by Sinergia con Imprenditori.
Fineurop Soditic acted as financial advisor to Argos Soditic in the sale of a majority stake in GPP Industrie Grafiche S.p.A. to 21 Investimenti. This secondary buy out has been valued at around Euro 40 million.
GPP, headquartered in the outskirts of Milan, is one of the main cardboard packaging companies in Italy with an increasing market presence in Europe.
The Group produces packaging, displays, graphic advertisement, posters and visual communication.
GPP currently employs around 220 people and it is expected to post 2008 sales of Euro 50 million in 2007, with an adjusted EBITDA margin of around 14-15%.
Fineurop Soditic acted as financial advisor to private equity fund Magenta S.G.R. in the sale of CIFA S.p.A. for around Euro 500 million.
The acquisition was made by Chinese construction equipment manufacturer Zoomlion Heavy Industry Science & Technology Development Co. Ltd (60% stake), in partnership with Chinese private-equity firm Hony Capital, US-based investment bank Goldman Sachs and private equity fund Mandarin Capital Partners which will hold 18.04% stake, 12.92% and 9.04% respectively. Zoomlion paid Euro 163 million for a 60% stake.
Founded in 1928, CIFA (Compagnia Italiana Forme Acciaio) is the world's third largest concrete machinery manufacturer.
The Company expects to post 2008 sales of Euro 360 million, with an Ebitda of 19%.
This transaction represents the biggest acquisition of an Italian target, carried out by a Chinese company.
The deal will help Zoomlion, listed on Shenzhen Stock Exchange, to strengthen its appearance in the international market and expand its business in Europe and North America through CIFA’s existing network in these markets.
Fineurop Soditic assisted private equity fund Alto Partners and the company’s minority shareholders in the sale of Metalcastello S.p.A. to Indian leading automotive manufacturer Mahindra & Mahindra Ltd and the Indian fund ICICI Venture.
Metalcastello, based near Bologna, was originally founded in 1952 and is among the top gear manufacturers in Europe, focused primarily on the Off-Highway segment. The company’s product portfolio includes complex gears & shafts for use in vehicle transmissions and drivelines.
Metalcastello employs 250 people and has revenues of around Euro 60 million, with an Ebitda margin of 25%.
This acquisition enables Mahindra to expand geographically in the selected business and to acquire a top-client platform in the earthmoving, agriculture and defence business.
Fineurop Soditic acted as exclusive financial advisor to Alto Capital II, private equity fund managed by Alto Partners S.G.R., in the acquisition of a majority stake in Monviso S.p.A. from private equity fund 3i.
Founded in Turin in 1936, Monviso is the leader in Italy in the segment of diet-healthy bread substitutes (such as rusks, breadsticks, crackers and biscuits) through the brand ‘Panmonviso’.
In 2007 Monviso generated sales of about Euro 30 million with an EBITDA margin in excess of 20%. The Company currently employs around 110 people.
Through this acquisition Alto Capital aims at enhancing Monviso’s growth strategy both in Italy and abroad also by means of add-on acquisitions.
Fineurop Soditic acted as exclusive financial adviser to Artsana, the Italian private group, in the acquisition of US-based The Boppy Company.
The Boppy Company, established in 1990 by Ms. Susan Brown is a private manufacturer of feeding and support pillows for babies.
Artsana was founded in 1946 by Mr. Pietro Catelli, it reported a 2007 turnover of Euro 1.426 billion with 8,000 employees and 19 subsidiaries across the world. The acquisition is meant to boost Artsana's presence in the US.
Fineurop Soditic acted as exclusive financial adviser to Industria & Finanza SGR S.p.A. and Recos S.A. in the sale of a 100% stake of Gamma Croma S.p.A.. The Acquirers have been Cape Natixis Due (private equity fund managed by Cape Natexis SGR) and Progressio Sgr S.p.A. (Progressio Investimenti).
Founded in 1984 by Mr. Renato Ancorotti, Gamma Croma S.p.A. is one of the leading formulators and contract manufacturers of colour cosmetics worldwide.
The Company is based in Vaiano Cremasco (Cremona) in the make up district consisting of about 90 companies.
Gamma Croma is expected to be merged with Clavis, company acquired by Cape in 2006. Through this transaction Gamma Croma will strengthen its position of second leading player in the Italian make up market.
Gamma Croma’s sales have grown at a CAGR of 7.4% during the last 3 years, reaching sales Euro 45.5 million in 2007.
Fineurop Soditic assisted the shareholders of Xtel in the sale of a majority stake in the Company to private equity fund Cape Natixis.
The transaction took place through a leveraged management buy out, which saw the two founders reinvest with a 30% stake.
Xtel, headquartered in Bologna, is an Italian leading company involved in the Customer Relationship Management (CRM) activity, which consists in managing relationships among manufacturers and their customers, including collecting, storing and analyzing customer information. The Company, which employs around 50 people, is specialised in creating CRM software systems for mass retailers and it can count among its clients leading companies such as Coca Cola, Unilever, Plasmon-Heinz and Parmalat.
Founded in 1991, Xtel registered 2007 sales of Euro 7 million (+20% on 2006 sales) with an Ebitda margin of over 40%.
Xtel will be provided with new financing to help it grow, also through add on acquisitions in Italy and abroad with complementary software products.
Fineurop Soditic assisted the shareholders of Nuovamacut Automazione S.p.A. in the sale of a majority stake in the Company to TeamSystem, the Italian software solutions provider.
Nuovamacut, founded in 1955 in Reggio Emilia, commericializes CAD and CAM software for medium-sized manufacturing companies.
The Group’s sales have grown at a CAGR of 28% during the last 3 years reaching sales Euro 23 millions in 2006.
The transaction’s purpose consists in strengthening commercial synergies between Nuovamacut’s Group and Teamsystem in the manufacturing area.
Fineurop Soditic acted as exclusive financial adviser to Arca Impresa Gestioni SGR, Meliorbanca S.p.A., Sequor Industries N.V. and other investors in the sale of a 100% stake in Cemp S.p.A. to the Indian industrial group ABG Engineering & Constructions along with private equity fund Tano Capital.
The Company has been valued at around Euro 27 million.
This acquisition is structured as a leveraged management buyout and it is among the first Indian private equity backed transactions in Italy.
Cemp, headquartered near Milan, is a leading player in the production of flameproof electric motors used in various areas including petrochemicals, refineries and oil and gas pipelines.
Cemp is expected to generate 2007 sales of Euro 23 mn.
Fineurop Soditic acted as financial adviser to Sparco Group in structuring a MLT financing of Euro 20 million, underwritten by Banca Nazionale del Lavoro and Interbanca, in order to make acquisitions in the US. Presidio acted as Mezzanine Provider.
Headquartered near Turin, Sparco is a leading apparel and car accessories company. The Company employs 250 people and posted a 2006 turnover of over Euro 50 million.
Fineurop Soditic acted as financial advisor to the Codognotto family and other private investors in the acquisition of full control of Comdata.
Headquartered in Turin, Comdata is a leading provider of Customer Management Services addressed to privately and state-owned companies.
Comdata is focused on Customer Relationship Management and on Process and Document Management.
In 2006 the Company registered sales of Euro 133 million with an Ebitda of Euro 15 million.
Fineurop Soditic acted as financial adviser to Alpha Private Equity Fund 5 (APEF 5) in the purchase of the 100% of Rhiag Group from CVC Capital Partners, in a buy out transaction.
Rhiag Group, founded in 1962, is the leading independent distributor of automotive spare parts to the Italian aftermarket.
The Group, headquartered in Milan, has subsidiaries in Italy, Switzerland and Eastern Europe and employs approximately 1,400 people. In 2006 Rhiag showed a turnover of approximately Euro 430 million with exports sales of around 30%.
Fineurop Soditic acted as financial adviser to the private equity fund Absolute Ventures S.C.A. in the sale of the majority stake of Arketipo to Aletti Private Equity SGR, in a SBO transaction.
Arketipo, founded in the outskirts of Florence in 1982, is a leading company active in the design, production and distribution of top quality sofa.
Arketipo is a very well known brand synonymous of quality and Italian design.
The Company is expected to generate 2007 turnover of 15 million with an Ebitda higher than 20%.
Aletti aims at consolidating Arketipo’s position in Italy and developing its presence worldwide.
Fineurop Soditic acted as M&A adviser to Akzo Nobel Group in the transaction in which Balchem Corporation (Nasdaq listed Company), through its European subsidiary Balchem B.V., acquired Akzo Nobel’s choline chloride and methylamines businesses located in Marano Ticino, Italy.
Akzo Nobel is a global leader in the chemical industry, and its Marano Ticino operation is active in the production and sales & marketing of Choline products, Methylamines and Metam Sodium. Choline products are primarily used as a feed additive for poultry and pig feedstuffs.
The total revenues of the business for 2006 are Euro 25 million with an Ebitda margin of 6.5%. Revenues are primarily realized in Europe.
The Business, currently run by a team of 86 employees, includes dedicated management team, manufacturing, research & development, sales & marketing, general & administrative services.
Fineurop Soditic acted as M&A adviser to Industrial Resources Investments which sold the majority stake of Maccorp Italiana S.p.A. to Emerald Advisory Service & Equity Investments S.A., private equity fund advised by PM&Partners.
Maccorp Italiana was founded in Milan in 1990 and it opened its first bureau de change in Venice in January 1991. In addition to the foreign exchange, the Group provides lots of complementary services, such as money transfer, V.A.T. refund, hotel booking, tourist information, sale of telephone cards and on-line recharge of mobile phones.
Maccorp’s network is constituted by 85 branches in places with a high flow of tourists and travellers such as airports, rail stations and historical centres.
The Group has recently acquired Grandi Biglietterie S.r.l. active in the ticketing business (mainly trains, flights and boats) with “Agenzie 365” brand.
In 2006 the Group posted a consolidated turnover of Euro 25.5 million with an Ebitda margin of 35%.
Fineurop Soditic acted as financial advisor in a management buy out transaction backed by Aksìa Capital which has acquired a majority stake in Robuschi S.p.A., through Aksìa Capital III. The Robuschi family will also retain a stake in the business.
The total equity commitment is valued at around Euro 30 million. Senior credit facilities were provided by Interbanca and BNL.
Robuschi is based in Parma and was founded by Giovanni Robuschi in 1941. It is a leading producer of rotary lobe blowers, centrifugal pumps and vacuum pumps.
With more than 55% of production destined for export, the company operates a 32,000 square metre factory and has six sales offices abroad in addition to a network of international distributors.
It generated turnover of more than Euro 50 mln in 2006 and Ebitda of around Euro 11 mln.
Fineurop Soditic acted as financial advisor to RCS MediaGroup in the acquisition of a 51% stake in Digicast S.p.A. from Digifin S.p.A. (controlled by Iniziativa Piemonte).
The consideration of the investment acquired is Euro 16.3 million (apart from adjustments calculated taking into account the balance sheet and financial position at December 31, 2006) and includes “call” and “put” options which will increase RCS’s investment to 100% of the share capital.
Digicast is the owner of the theme channels, which are principally distributed through the Sky platform: “Jimmy”, “Caccia e Pesca”, “Sailing Channel” and “Planet”. In 2005, Digicast recorded consolidated revenues of approximately Euro 27 million, an Ebitda of about 19%.
This acquisition will enable RCS MediaGroup to diversify its business beyond the struggling newspaper business.
Fineurop Soditic acted as financial advisor to Change Capital Partners and Sinergia con Imprenditori in the acquisition of a 100% stake (50% each) in Unopiù Europa S.p.A. from Opera Management SA for approximately Euro 115 million (EV).
Change Capital Partners, created in January 2003, is a pan-European private equity firm focusing on mid-market deals in branded goods, retail and consumer services.
Sinergia con Imprenditori, an Italian closed-end fund with a Euro 300 million total commitment managed by Synergo Sgr S.p.A., is specialised in investing along side with Italian entrepreneurs in mid-sized companies.
Unopiù, founded in 1978 by two Italian entrepreneurs as a manufacturer and retailer of wooden structures for pergolas and gazebos, is currently a leading outdoor furniture player in Europe.
With annual sales of Euro 73 million and an Ebitda margin in excess of 15%, Unopiù holds an aggregate 17% share of the branded garden furniture market in Italy, France, Germany and Spain and is the sector leader in both Italy and France.
Fineurop Soditic assisted RCS MediaGroup in the transaction in which the Group, through RCS Libri S.p.A., increased its stake in Skirà S.p.A. with a further 24% stake at Euro 4.2 million.
Skirà, headquartered in Milan, is an Italian leading publisher focused on design, execution and commercialisation of graphic (especially artbooks and catalogues for exhibitions) and editorial materials.
The Company generated 2005 sales of Euro 16 million with an Ebitda of approximately 7% and an Ebit of 6%.
Fineurop Soditic acted as financial adviser to private equity house Stirling Square Capital Partners in the acquisition of a majority stake in Metroweb S.p.A. from Italy-based utility AEM in a MBI transaction. AEM will retain a 23.5% stake in the business.
Metroweb owns a 3,200 km fibre optics network through the city of Milan, the Valtellina area and the backbones to some Northern Italian cities (e.g. Bologna, Bergamo, Verona, Vicenza, Genoa and Turin).
The Company rents its network to telecom operators that offer services to retail clients and corporations.
In 2005 Metroweb generated a turnover of Euro 44 million with an Ebitda of more than 60%.
This transaction represents Stirling Square’s first investment in Italy.
Morellato S.p.A. completed the acquisition of a 100% stake in Sector Group S.p.A. from private equity fund Opera Management S.A.
Sector Group, founded in 1973, is a leading player in the production and distribution of watches under the brands “Sector” and “Philip Watch”. The Group also manufactures watches under licensed trademarks belonging to fashion companies such as Roberto Cavalli, Just Cavalli, Pirelli Pzero, Moschino and Valentino. In 2005 Sector generated sales of Euro 64.6 million and it is expected to reach a turnover of Euro 78 million in 2006.
Morellato, established in 1930, is a leading manufacturer of watch straps and it has an exclusive partnership with most prestigious watch manufacturers. The Company also produces quality fashion jewels and leather accessories and generated 2005 sales of Euro 92.6 million with an Ebitda of Euro 24.2 million.
Through this acquisition Morellato aims at obtaining important synergies and reaching strategic upsides.
At closing Sector Group was financed by Banca di Roma, Banca Antonveneta, Interbanca, SanPaolo IMI and MPS and the terms and conditions of financing were negotiated with Morellato as condition precedent for completing the deal.
Financial advisor to Morellato: Germano Palumbo (Partner and Head of M&A) and Niccolò Querci (Associate) of Fineurop Soditic S.p.A..
Legal advisor to Morellato: Lawyers Mario Ortu and Luigi Verga of Freshfield Bruckhaus Deringer.
Legal consultant to Opera: Lawyers Giorgio Meo and Nicola Marotta of Studio Meo (Rome).
Fineurop Soditic acted as financial advisor to Magenta SGR in the acquisition of Cifa S.p.A., through a MBO transaction. Magenta, new Italian private equity fund, purchased a 70% controlling stake in Cifa, while the remaining share capital is owned by the current shareholders and the Company’s management.
Cifa, founded in 1928, is a world leading player in the design, production and distribution of equipment for the mixing, transportation and placement of ready-mix concrete including mixing plants, formworks, truck mixers and concrete pumps.
In 2005 Cifa registered sales of approx. Euro 200 mln with an Ebitda of 13%.
Fineurop Soditic acted as financial adviser to DMail Group S.p.A. in structuring 3 MLT Facilities for a total amount of Euro 20 million. Banca Intesa, Unicredit Banca d’Impresa and Banca Popolare Italiana acted respectively as arrangers and underwriters of the 3 financing.
DMail, listed on the Star segment of the Italian Stock Exchange, works in local media and media commerce. The Group is active on both domestic and international markets in multi-product and multi-channel direct and tele-sales of a wide range of goods, retail electronics and small appliances through B2C and B2B channels.
Headquartered in Milan, the Group registered 2005 sales of Euro 49.5 million with an Ebitda of Euro 4.9 million (10%).
Fineurop Soditic assisted Credem Venture Capital, fund managed by Credem Private Equity SGR S.p.A., in the acquisition of a majority stake in Fida Group in a Leveraged Management Buy In transaction.
Fida Group, founded near Asti in 70’s, is active in the production of hard boiled candies, geleès and toffees, distributed under the brands “LeBonelle”, “Tenerezza”, “Gocce di Pino”, “Gocce di Liquirizia” and “Mogò”.
The Company generated 2005 sales of approx. Euro 10 million with an Ebitda of 18%.
Fineurop Soditic assisted Raco in the transaction in which MPS Venture I acquired a 30% share quota in the Group through a reserved capital increase of Euro 6 million and supported by acquisition financing to acquire the 100% control of Friulpress-Samp.
Further to this acquisition the fund Absolute, the current Raco majority shareholder, will hold a 51% share, MPS Venture a 30% share and the management the remaining 18% share.
Raco, based near Udine, is a leading producer of automotive components which generated 2005 sales of Euro 50 million.
Friulpress-Samp produces die-casted and machined components made of aluminium and zamak.
The acquisition of Friulpress-Samp is in line with Raco strategies; Raco aims to achieve important synergies in many industrial sectors (automotive, household and electric appliances industries) and to reach consolidated revenue of Euro 80 million in the next year.
Fineurop Soditic acted as financial advisor to Argos Soditic in the acquisition of a spin off of Gruppo GPP Industrie Grafiche S.p.A, through a BIMBO transaction.
GPP, based in Trucazzano (Milan), is one of the main cardboard packaging companies in Italy, with over 220 employees and a market presence in Europe.
The Company registered 2005 sales of Euro 45,4 mln and an EBITDA of Euro 6.4 mln (14%).
Fineurop Soditic assisted Ergon Capital Partners, Vestar Capital Partners, Athena Private Equity and the Company’s senior management in the acquisition of Seves Group through a management buy out transaction. The group of shareholders which has sold the Company includes Intek, Interbanca, Fidia SGR and Athena Private Equity.
The transaction value is Euro 375 million.
Seves Group, is the world’s leading manufacturer of glass and composite insulators for power transmission and distribution systems, and of glass blocks for architectural and interior design applications.
In 2005 the Group registered sales of Euro 235 million.
Fineurop Soditic acted as financial advisor to Novation (Aksia Group) in the acquisition of a majority stake in Oxtar Group.
Oxtar, headquartered in Montebelluna (Treviso), is a leading manufacturer of motorcycle boots and safety footwear which registered 2005 sales of approximately Euro 24 million.
Through this acquisition Novation aims at becoming a leading player in the manufacturing and distribution of top quality products for the sport and work-wear industry.
Fineurop Soditic acted as exclusive advisor to Panariagroup in the acquisition of the brand and the main assets of Florida Tile Industries Inc. for US$ 22.5 million from Milestone, the private equity fund that owned the control of Florida Tile.
Florida Tile is a US company specialised in manufacturing and distributing floor and wall ceramic tiles in the US market, with a well-known brand and a wide distribution network.
Following to this acquisition Panariagroup will have the possibility to control immediately an important logistic and distributing chain in the market with the highest expected growth rates.
Fineurop Soditic acted as exclusive advisor to Investitori Associati in the sale of 100% of Arena Group to a private equity fund managed by BS Investimenti SGR. This acquisition has been carried out through a leveraged management buy out transaction.
Arena, established in 1973, as a spin-off of Adidas, is a world-wide leading company in the sports-waterwear business and has a significant market share in the leisure segment. In 2005 the Group generated net revenues of Euro 80 million.
Fineurop Soditic acted as financial adviser to Cogne Acciai Speciali Group in structuring a MLT financing of Euro 15 million, fully underwritten by Unicredit Banca d’Impresa and Banca Nazionale del Lavoro.
Cogne Acciai Speciali, headquartered in Aosta, is one of the worldwide leading players in the manufacturing of stainless steel long products. The Group, founded in 1911, is expected to register 2005 sales of approximately Euro 527 million (+17% YoY) with an Ebitda of Euro 40 million.
Fineurop Soditic acted as M&A advisor in the transaction in which Alto Capital II, fund managed by Alto Partners SGR, acquired a majority stake in Gruppo Arcte.
Gruppo Arcte, founded in 1957 in Bologna, is a leading manufacturer and distributor of underwear and beachwear under the brands “Argento Vivo”, “Baci Rubati”, “Julipet” and “Allen Cox”.
Arcte is expected to register 2005 sales of approximately Euro 50 million.
Fineurop Soditic acted as exclusive advisor to ECP IV, fund advised by L.B.O. Italia, in the sale of 100% of Blumen S.r.l. to private equity funds managed by Arca Impresa Gestioni SGR. This acquisition has been carried out through a leveraged management buy out transaction.
Blumen, headquartered near Piacenza, is the Italian leader in the marketing and distribution of vegetable, flower and lawn seeds and garden products to retailers. The Company’s products are mainly addressed to hobby gardeners and to semi-professional customers.
Blumen has an headcount of 50 people and is expected to generate 2005 sales of Euro 17 million.
Fineurop Soditic acted as financial advisor to L Capital and structured the financing in the acquisition of a 75% stake in Emu Group, through a MBO transaction.
Emu, headquartered in the outskirts of Perugia, is active in the production and distribution of high quality metal and wood garden furniture and registered 2004 sales of Euro 35 million. Export accounts for approximately 60% of the total turnover.
Through this acquisition L Capital will support Emu’s developing strategy in international markets.
Fineurop Soditic assisted Industrie De Nora in the acquisition of 100% stake of Eltech Systems Corporation.
Eltech, headquartered in Ohio, is a technology driven company, providing solutions for electrochemical industries through innovative anodes, cathodes, catalyst coatings and related equipment.
This acquisition allows the De Nora Group to become the leading player in the world in the production of anodes.
Fineurop Soditic acted as financial advisor to SEA – Società Europea Autocaravan in the acquisition of a majority stake in Autosleepers.
Autosleepers, headquartered in UK, is a leading manufacturer and distributor of motorhomes which registered a 2004 turnover of GBP 74 million.
Through this acquisition SEA Group aims at becoming the largest manufacturer and the largest retailer of motorhomes in the UK and continental Europe within five years.
Fineurop Soditic acted as M&A advisor to Investitori Associati in the acquisition of a majority stake in Bluvacanze through a MBO transaction.
Bluvacanze is a travel agency network which is active in the sale of tour operators’ holiday packages. The Company directly manages a chain of approximately 320 agencies and registered 2004 sales of approximately Euro 250 million.
Investitori Associati will support the company’s growth in the Italian and international markets.
Fineurop Soditic assisted BS Private Equity and MCC Sofipa SGR in the acquisition of a majority stake in IP Cleaning S.p.A. from Interpump Group in a MBI deal which is worth Euro 220 million (Enterprise Value).
IP Cleaning is a leading player on the international cleaning equipment market. The Company produces and distributes machines and equipment for the domestic, professional and industrial cleaning business.
IP Cleaning reported 2004 sales of Euro 293 million with an Ebitda of 10% and an Ebit of 8%.
BS Private Equity and MCC Sofipa will support the creation of shareholders’ value of IP Cleaning by providing financial and managerial resources dedicated to support both organic and external growth.
Fineurop Soditic advised Sequor Industries S.A. in the sale of Galileo TP Process Equipment S.r.l. to Absolute Ventures S.c.A., through an MBO transaction.
Galileo TP, headquartered in Scandicci (Florence), is the Italian leading manufacturer of machines for charging refrigerant fluids and of rotary vacuum pumps addressed to refrigeration and air-conditioning markets.
The Company has approximately 30 employees and reported 2004 sales of Euro 11 million with an Ebitda of 25%.
Fineurop Soditic acted as financial advisor to Bridgepoint in the acquisition of a majority stake in SEA Società Europea Autocaravan S.p.A. through an MBO transaction.
SEA, founded in 2000 through the merger of Elnagh, Mobilvetta Design and McLouis, is one of the largest European companies active in the design, production, sale and rental of motor caravans.
SEA, with production plants in Italy and Spain, generated 2004 sales of Euro 300 million.
Fineurop Soditic advised Key Safety Systems Inc. in the sale of the brand “Momo” and all Momo Aftermarket activities to Absolute Ventures S.c.a. for approximately Euro 22 million (Enterprise Value) in a MBO deal.
Key Safety Systems, part of The Carlyle Management Group since 2003, is a leading supplier of automotive safety components.
Momo, established in Milan in 1964, is recognised as a global leader in the production and distribution of a wide range of high-end OEM and aftermarket parts and accessories. The Company generated 2004 sales of Euro 25 million with export sales representing approximately 85%.
Through this acquisition Absolute Ventures, fund advised by AVM Italia and AVM France, will support the Company’s development which include further international expansion in East Europe, Far East and South America.
Fineurop Soditic acted as financial adviser to Cogne Acciai Speciali Group in structuring a Euro 15 million corporate loan. Unicredit Banca d’Impresa and Banca Nazionale del Lavoro acted as joint arrangers and underwriters of the financing.
Cogne Acciai Speciali, founded in 1911, is one of the worldwide leading manufacturers of stainless steel long products. The Group, headquartered in Aosta, registered 2004 sales of approximately Euro 450 million with an Ebitda of Euro 47 million.
Fineurop Soditic acted as exclusive financial adviser to The Carlyle Group and the other sellers in the sale of 100% of Tecnoforge S.p.A. to Valvitalia in the context of an auction.
Valvitalia is a leading manufacturer of valves and other energy equipments.
Tecnoforge, headquartered in Castelsangiovanni (Piacenza) is a leading manufacturer of steel flanges and fittings for the process industries, particularly for the oil, gas and chemical industries. The Company registered 2004 sales of approximately Euro 60 million.
Fineurop Soditic acted as exclusive financial adviser arranging the transaction in which Interbanca S.p.A., through the fund Interbanca Investimenti Sud, subscribed a reserved capital increase in Pantex International.
Pantex International, a company participated by Argos Soditic and Aletti Merchant, is headquartered in Sulmona (L’Aquila) and it is active in the development of thermobonding technology associated with the lamination of nonwoven textiles.
Fineurop Soditic acted as financial advisor for Aksia Group and structured the financing in the acquisition of a 80% controlling stake of Bauer Italia from Nike Inc..
Bauer Italia, headquartered in the outskirts of Treviso, is a leading manufacturer of sport equipment and it is specialised in hockey, ski and snowboard. The Company generated 2004 sales of Euro 41 million and has a workforce of 200 people.
Fineurop Soditic acted as financial advisor to Selesta S.p.A. in the sale of Selesta Ingegneria to the private equity fund Wisequity, through a management buy out transaction.
Selesta Ingegneria, Italian leader in the access control systems, generated a turnover of Euro 16 million and can count among its clients the most important industrial, financial and services groups.
Fineurop Soditic acted as financial advisor to IF Investimenti and other private investors in the acquisition of De Fonseca S.p.A. performed by Star Social Responsible Fund, managed by Efibanca Palladio Finanziaria SGR.
IF Investimenti is the private equity fund managed by Industria & Finanza SGR.
De Fonseca, based in Turin, is one of Italian leading players active in the production of health and sport shoes. The Company registered 2003 sales of Euro 41 million.
Fineurop Soditic acted as financial advisor to the sellers in the purchase of a 60% stake in Elmag performed by Scm Group of Rimini, leader in the production of woodworking machinery.
Elmag, headquartered in Monza, is active in technological solutions and surface treatment machinery and systems and registered 2003 sales of Euro 15 million.
Thanks to this acquisition Scm will be able to offer a comprehensive range of products including highly technological surface treatment machinery and systems. Scm Group is expected to generate a consolidated turnover of approximately Euro 470 million.
Fineurop Soditic acted as financial adviser in the acquisition by Aletti Merchant of approximately a 21% stake in Ponte S.p.A. (ACC new holding) from Abn Amro which holds the remaining share capital.
ACC (Appliances Components Companies), headquartered in Pordenone, is specialised in the production of electrical motors for "wet appliances" and compressors for household and commercial refrigerators.
Following this transaction ACC's shareholders will be: Ponte S.p.A. (53% stake), Efibanca, Palladio Finanziaria, Dresdner and the Company's management.
Fineurop Soditic acted as financial advisor in the acquisition of a minority stake in ACC S.p.A. (Appliances Components Companies) performed by Star Social Responsible Fund and Palladio Finanziaria from ABN Amro. ACC, based in Pordenone, manufactures electrical motors for "wet appliances" (washing machines, dishwashers and dryers) and compressors for household and commercial refrigerators.
Fineurop Soditic acted as financial advisor for Barclays Private Equity S.p.A. and structured the financing in the acquisition of a stake in Bluvacanze. Bluvacanze is a distribution network focused on the sale of Tour Operators' holidays packages which directly manages a chain of approximately 300 agencies.
Fineurop Soditic acted as financial advisor for SG European Private Equity Partners LP and structured the financing in the acquisition of a majority stake in Lince Group.
Lince Group, founded in Milan in 1920, is the Italian leader in providing corporate information services to a large number of clients and operates through its offices located in Milan, Bologna, Florence, Padova, Pescara, Rome and Turin. This transaction aims at providing financial resources in order to consolidate Lince leading position in the domestic market and to grow through acquisitions in European markets.
Fineurop Soditic generated on behalf of LCapital (private equity fund sponsored by LVMH Group) and acted as financial adviser in the transaction in which LCapital acquired a minority stake in Antichi Pellettieri S.p.A. from Mariella Burani Fashion Group. Antichi Pellettieri, founded in 2001, comprises Mariella Burani's seven subsidiaries which manufacture and distribute leather goods and accessories. This transaction is expected to generate production and distribution synergies between LVMH and MBFG.
Fineurop Soditic acted as advisor for Trussardi Group in the acquisition of the industrial business of Zetati S.r.l..
Zetati, headquartered in Florence, is active in the production of high quality leather goods.
Through this acquisition Trussardi Group aims at strengthening its leather division and reallocate its leather goods production in the Florence leather district.
Fineurop Soditic acted as financial advisor to Castel S.p.A. for a minority stake acquisition performed by Interbanca Investimenti. Interbanca will allow Castel, leader italian company in the cooling components business, to speed up European development process with the aim to double the turnover within five years.