INVEST IN ITALY PPORTUNITIES FOR JAPANESE … maintenance systems ... 2012 2013 2014 TURNOVER 49 55...

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INVEST IN ITALY:OPPORTUNITIES FOR JAPANESE COMPANIES

1ST FDI ATTRACTION ROADSHOW

THE ITALIAN GOVERNMENT

TOKYONovember 18th 2015

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SAMPLES OF INVEST OPPORTUNITIES: INDEX

• Real Estate 16• Automotive 13• Food & Beverage 10• Furniture and Crafts 6• Fashion Industry 4• Medical Devices 3• Mechatronics 3• Construction materials 3• Metallurgy sector 2• Pharmaceutical 2• Others 17

... and in 27 sectors79 projects in 16 Regions…

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CONTENT OF THE DOCUMENT

• M&A OPPORTUNITIES

• OTHER PROJECTS

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• Export ratio: 50 %

• Countries: UE, Latin America, Asia

COMPANY 4 - AUTOMOTIVE & COMPONENTS M&A OPPORTUNITIES

COMPANY OVERVIEW MARKETS & COMPANY STRUCTURE

FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED

• Looking for financial/industrial partner• Turnover: € 17,8 (2013), € 17,2 mln (2012)• Employees: 136

• Design, manufacture and turn-key installation of systems and equipment for automotive and railway fields. Main product areas: - complete hot and cold endothermic engines testing systems; - automotive sub-assembly and body assembly fixtures; - systems for application of protective substances inside the body cavities; -production, maintenance systems in the railway field; -test and certification benches for railway rolling stock; -plants for treatment of used tires; - service and maintenance by our customers.

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• Countries: France, Germany, Spain




• Looking for financial/industrial partner• Turnover: € 37 mln (2013), € 33 mln (2012)• Employees: 170 (2013)

• Since 1935 in the field of the steel forging; specializations: production of assemblies and parts for many market sectors such as commercial vehicles, railroad cars, farming machines, textile and petrochemical machinery, the company is today well-rooted in the territory and is at the same time a reference point for domestic and international customers. The production is organized across three plants each specialized in different types of product and machinery.

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• Countries: France, Germany, Spain, , Argentina, Brazil, USA




• Looking for financial/industrial partner• Turnover: € 49 mln (2013), € 43 mln (2012)• Employees: 160 (2013)

• In 1949 the company started the production of engine, steering and suspension parts (oil pans and control arms); a wide range of highly reliable products, made from top-quality raw materials. It produces parts for the Aftermarket using the same technologies and quality standards as are used for OEM products. Plants are located in Italy and Poland.

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• Countries: France, Germany, Sweden, USA




• Looking for financial/industrial partner• Turnover: € 51 mln (2013)• Employees: 190 (2013)

• Created in 1956 the company specializes in the production of components for axles and transmissions for the automotive industry , earth moving machines, tractors. The group has three companies: the plant in Busano is specific for machining (turning, milling, gear cutting, broaching, hobbing) and has induction hardening facilities; OSVA, a forging factory situated in Valperga(Turin) and an Indian plant in the Delhi area. Sectors: automobiles, industrial, commercial and military vehicles, trucks and ground motions machines, tractors, railways and robotics.

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• Countries: Austria, Belgium, France, Germany, Poland, Spain, Switzerland, China, South Korea, India, Argentina, Brazil




• Looking for financial/industrial partner• Turnover: € 38 mln (2013), € 32,5 mln (2012)• Employees: 140 (2013)

• With 50 years of tradition in high precision steel and iron components machining, it is one of best Italian producer of mechanical components for automotive and renewable energy sectors. Last generation plants and testing facilities assure the quality of manufacturing.

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COMPANY 31 - AUTOMOTIVE AND COMPONENTS M&A OPPORTUNITIES

TURNOVER From 20 to 30

NUMBER OF EMPLOYEES From 50 to 100

COMPANY OVERVIEW

• The company, based in the centre of Italy and founded in 1976, is a leader in the field of design and production of printed circuit boards. The Company is active in printed circuits boards, flexible, rigid and electronic components for automotive in particular, but also for other sectors (audio-visual, healthcare, white goods, energy, telecommunications, energy and banking). The company is focused on research & development, technological innovation and continuous training of his highly specialised staff.

• Certifications: ISO TS 16949:2009; ISO 9001:2008

• The company created some partnership and joint-projects with its customers. The company is able to develop a wide range of products with high standards at internationally competitive prices.

• Transnational Activity: 20% to 49% of the turnover.

• The owner is available for cooperation with foreign partners and for both solutions:- Financial partner: in the minority stake;- Industrial partner: sell the majority stake.

MARKETS & COMPANY STRUCTURE


Euro Mln, Number, 2013

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COMPANY OVERVIEW

COMPANY 54 - AUTOMOTIVE AND COMPONENTS


• The Company, founded in the ’70s, offers its customers,

such as Tier 1 automotive clients, a broad product portfolio in both steel and aluminum, producing doors, hatches, sliding door systems, structural assemblies, and modules for structural body parts for light commercial vehicles (LCV) and cars. The Group has 10 manufacturing facilities strategically located close to major customers and 740 employees.

• In May 2013, the Group started 2 operating JVs (both in Canada and in Europe) with a North American manufacturer of structural body parts for cars and other motor vehicles, focused on hydro forming technology.

• In March 2014, the Group started a marketing JV in China with a Chinese conglomerate, one of the main players operating in the steel industry worldwide.

M&A OPPORTUNITIES


• The owner is available to a sell the majority stake.

2010 2011 2012

TURNOVER 121,3 132,4 143,7

EBITDA 10,1 8,4 9,2

Euro Mln

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COMPANY OVERVIEW

COMPANY 55 - AUTOMOTIVE AND COMPONENTS


• The Company is a family-owned business, among global leaders in the manufacture of high precision machined metal products for the Auto industry worldwide, and primarily a Tier 2 supplier. The Company makes critical small parts in high volume to very high precision. It operates at the micron level of tolerance and produces an average 170 million parts per year with a defect rate of 4ppm or less. The Company is focused on critical high-precision components primarily for automotive powertrain and chassis applications e.g. components of gasoline and diesel fuel injectors, starter motors, AC compressors and shock absorbers.

• The Company serves a broad range of sophisticated customers and sells globally. Automotive accounts for about 90% of total revenues, followed by Aerospace and Appliances. Approximately 85% of sales are in Europe, 10% in the Americas and 5% in Asia (China, India). Germany is the largest market for HPM (36% of sales). Top 5 Customers in 2012 were Bosch, Delphi, Eaton, Sanden and Continental.

M&A OPPORTUNITIES


• The Owners are open to consider selling the majority or even the totality of their shares.

• The Company is managed by a strong CEO and Executive Team committed to continue growing the business.

• 2014 revenues are about 95 mln Euro with EBITDA of about 16 mln Euro and net debt close to 36 mln euro.

• 2015 budget indicates sales of 99 mln Euro, EBITDA of 18 mln Euro , net debt of 34 mln euro.

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COMPANY OVERVIEW

• The Company is an Italian group that designs and manufactures customized metal components (i.e. tubes and brackets for exhaust systems) mainly for the automotive industry. The Company owns state of the art and flexible production plants for bending, welding punching and press of metal components. The Group develops its activity in 4 plants, one of which is located abroad, with a total surface of some 15,000 sqm and owns international standard certifications like ISO UNI EN ISO 9002, UNI EN ISO 14000 and ISO TS 16949.

• The Group’s main customers are well-known Tier 1 and OEM operators. 80% of the turnover is generated abroad (EU countries). The Company is able to assists its customers, during all the production steps from the fulfillment of the idea to the delivery of the final products.

• The Company employs approximately 380 people.

• The owner is available to a sell the majority stake.




2012 2013 2014

TURNOVER 49 55 57

EBITDA 3,6 5,3 5,8

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COMPANY OVERVIEW

• The company start in 1968 developing an advanced accessorize. In 1975 entered in the Formula 1 and at the beginning of ‘90 was supplying many teams of F1, and

also some team of Nascar and Indi- Car.

• The company works both on professional and retail level, it’s focused on innovation and high performance tools and

equipment for automotive.

• The shareholders are looking for industrial and finance investors for a good expansion worldwide and a consolidation in critical markets with good potential of growth.

• They are also open to discuss for Joint venture opportunities.



2013 2014 2015 F

TURNOVER 2.57 3.01 3.53

EBITDA 0.17 0.27 0.34

EBITDA % 6.4% 8.9% 9.25%

EBIT 0.12 0.16 0.24

NFP 2.44 1.93 1.83

Euro Mln

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• The Company supplies to the main rail and road Public Transportation Companies, and also to the Manufacturers of vehicles and machines.

• Certification: UNI EN ISO 9001

COMPANY A - AUTOMOTIVE AND COMPONENTS M&A OPPORTUNITIES

COMPANY OVERVIEW

• Established in 1960 by a historic family of Neapolitan entrepreneurs, the company works in the field of design and production of innovative and technologically advanced composite materials to be used on any kind of vehicle and machines. Company product range includes:- Contact strips for the pantographs of rail vehicles and

trolleybuses;- Friction modifiers for railway wheels;- Ecological brake pads and brake blocks for trains,

undergrounds, trams, buses, trucks, vans ,cars and motorcycles;

- Brake straps for agricultural and industrial machines, overhead traveling cranes, cranes, elevators and other applications



• The Company is looking for:- Equity participation - Joint Venture (the Company holding the management of

the Joint Venture)

2010 2011 2012

TURNOVER 24,6 24,0 24,8

EBITDA 5,7 5,0 5,4

Euro Mln

TURNOVER * € 1 Mln first year

EBITDA % 25%

NET FINANCIAL POSITION € 150.000/year

TOTAL INVESTMENT € 6 Mln

ROI 18%

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COMPANY F - AUTOMOTIVE AND COMPONENTS M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The Company is engaged in the design and manufacture

of bodies (coachwork) for motor vehicles as well as trailers and semi-trailers

• One of the largest producers of trucks and towing trucksin Italy and among the largest in Europe

• Production capacity is over 15,000 per year• The average revenue of the top-20 Italian companies in

this sector is € 60 mln per year

Asset Profile• Plant based in central Italy

WHY INVEST


• STRENGTHS: very competitive and effective post-sale service, state-of-the-art equipment, wide product-offer and highly-qualified workforce. The company has a long term track record of production and high-standing relations with local stakeholders

• CHALLENGES: due to declining domestic demand the company needs to open up to new international markets

• The Company is looking for an Industrial investor

• Company/plant acquisition

FIANCIAL HIGHLIGHTS

2011 2012 2013

Turnover ~ 45 ~ 27 ~ 37

EBITDA ~ -6 ~ -5 ~ -4

Employees ~ 350

Net Financial Position ~ 36 ~ 38 ~ 35

Euro Mln

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COMPANY G - AUTOMOTIVE AND COMPONENTS M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• Leading Company in the tyre production in Italy.• Average revenues top-10 Italian companies € ~30 mln

Asset Profile• Plant for the manufacture of rubber tyres and tubes

located in northern Italy wholly controlled by the parentcompany

• Retreading and rebuilding of rubber tyres (commercialtyres, car tyres, industrial tyres, earthmover tyres, designand R&D, tyres machinery, retreading system)

WHY INVEST

TRANSACTION PROPOSED

• STRENGTH POINTS: highly qualified workforce; plants covers 40,000 sq. Leading tyre production in Italy with positive relations with local stakeholders

• POTENTIAL MARKETS: 50% of the production is exported to Europe, mainly to Germany and the UK

• CHALLENGES: the plant is facing strong price competition from producers in Europe and East Asia. Costs reduction represents one of the key challenge


• Company/plant acquisition (€ 140 mln revenues, EBITDA/turnover 9.5%)

FINANCIAL HIGHLIGHTS

2011 2012 2013

Turnover ~ 110 ~ 85 ~ 50

EBITDA ~ 3 ~ 0.7 ~ -7

Employees 420


Euro Mln, Number

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COMPANY T - CHEMICAL INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The company operates in wholesale and manufacturing

of plastic materials, synthetic resins and other relatedproducts

• Engaged in the wholesale distribution of chemicals andchemical products.

Asset Profile• Plants for the production of chemical product, nitrogen

fertilizers, plastic materials and rubber is located in theSouth of Italy.

WHY INVEST


• STRENGTHS: The plant is in perfect conditions and has a production capacity of 250-300,000 tons per year, out of 1 mln tons per year of potential market in Italy

• POTENTIAL MARKETS: further expanding in the Italian market and increase the penetration in the European market.


• Asset acquisition


2011 2012 2013

Turnover ~ 1.50 ~ 1.20 ~ 1.00

EBITDA ~ -1.30 ~ 1.10 ~ -0.89

Employees 82

Net Financial Position ~ 1.60 ~ 0.79 ~ -0.02

Euro Mln, Number

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COMPANY I - COMPONENTS INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The Company operates in the manufacturing and

distribution of wires in Italy and abroad, steelwiredrawing, steel nails and spikes, cold drawing of wire

• The Company also manufactures strands for reinforcedconcrete, wire ropes, ties and lifting equipment

• The company is wholly owned by foreign Europeancompanies

Asset Profile• Production plants based in northern Italy, in liquidation

WHY INVEST


• POTENTIAL MARKETS: wide possibility to increase the penetration into the European markets

• CHALLENGES: the first problems emerged in 2010-2011 due to financial crisis


• Company merger & acquisition


2011 2012 2013

Turnover ~ 56 ~ 37 ~ 1

EBITDA ~ 3 ~ -5 ~ -8

Employees 105


Euro Mln

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COMPANY B - CONSTRUCTION MATERIALS M&A OPPORTUNITIES

COMPANY OVERVIEW

• Established in 1960 the company works in the design, production, trade and assembling of prefabricatedmetallic constructions. Started as individual firm, since 1979 is a shared capital enterprise.

• Products range: Container, Modular Componable, Shelter and Metallic Parking System

• Supplier of shelters mainly in electric, radar, telecommunication, petrolchemical sectors, partner of Enel spa, Gruppo Eni spa, Telecom Italia Mobile spa, Alenia Marconi System spa, ABB spa, Ericsson Telecomunicazioni spa, Telecom Italia spa and many others international companies.

• The Company internal structure is composed of single directions (technical, production, commercial and administrative)

• Production plant on a surface of over 30.000 sqm is located in Campania Region

• Among Italian first companies to obtain a UNI EN ISO 9001 Quality System certification in 1997

• Patented a Metallic Parking System, capable of doubling car parking surfaces

• The Owners are considering selling the majority of the stakes

• They are looking not only for a financial partner but for an investor committed to expanding the business



• Annual Turnover 7.5 mln Euro in the last 4 years.• Annual Turnover in 2014: 8 mln Euro

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COMPANY N - CONSTRUCTION MATERIALS M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The company is engaged in the manufacture and sale of

cement, gypsum and plaster products• The company ranks among the largest concrete

producers in Italy and is a global leader with plants in fourcontinents and fifteen countries, exporting to over sixtycountries

• HQ based in central Italy• Wholly owned by the parent holding company

Asset ProfileProduction plant based in southern Italy

WHY INVEST


• STRENGTHS: opportunity to create a partnership with a global leader, highly specialized workforce, market access. The plant has access to a commercial/industrial port

• POTENTIAL MARKETS: Europe, North Africa, Middle East, Asia, North America

• CHALLENGES: The plant has been struggling to cope with high raw material costs, high CO2 emission costs, decrease in demand, and increase in import. The plant needs to be reconverted to a new concrete-related production.


• Asset acquisition


2011 2012 2013

Turnover ~ 132 ~ 130 ~ 110

EBITDA ~ -3 ~ -1 ~ -6

Employees 460


Euro Mln, Number

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COMPANY Z - CONSTRUCTION MATERIALS

COMPANY OVERVIEW

The Company• The Company is engaged in the production of pre-

fabricated structural metal, precast concretes, metalstructures and photovoltaic panels.

• The Company was placed under temporary receivership since February 2014.

WHY INVEST


• STRENGTHS: The Company also owns subsidiaries that produce pre-fabricated concrete buildings in Spain and photovoltaic panels in Italy.

• POTENTIAL MARKETS: it needs to expand into new markets beyond the stagnant building sector in Italy and Spain

• CHALLENGES: the company’s decision to increase production capacity and diversify its activities in a downward market was not successful. It resulted in high indebtedness and lack of capitalization. Lack of professional management (family-owned firm) has also been an issue in the past. Strong competition from producers in East Europe.

• Looking for industrial/financial investor.

• Company/branch acquisition through public bidding managed by the Ministry of Economic Development and the company’s caretaker (Commissario Straordinario).

• Non essential assets are to be liquidated.


2011 2012 2013

Turnover ~59 ~19 n.a.

EBITDA ~-13 ~-21 n.a.

Employees 230 n.a.

Net Financial Position ~53 ~50 n.a.

Euro Mln, Number

COMPANIES CONTROLLED BY A GOVERNMENT-APPOINTED

ADMINISTRATOR

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COMPANY 63 - COSMETIC M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company operates in the beauty/cosmetics industry, and it is one of the leading companies in the field of professional cosmetics for skincare and tanning systems.

• Their offering includes highly specialized equipment and extremely innovative cosmetics which are covered by international patents.

• The core businesses make up 85% of total revenues; professional cosmetics for sunless tanning and body & skin care (69% of total revenues) are growing at fast pace (32% compared to the same period in 2012), while beauty and sunless tanning equipment (16% of total revenues) have a 53% growth rate.

• The Company keeps growing in foreign countries, 78% of its products are sold abroad





2013 2014 2015 F

TURNOVER 4,5 6 7

EBITDA 0.49 1.12 1.37

EBITDA % 11% 19% 20%

EBIT (0.01) 0.54 0.69

NFP 2 1.9 1.7

Euro Mln

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COMPANY K - ELECTRONIC EQUIPMENT M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• Engaged in the manufacturing of electronic equipment for

telecommunication and biomedical. Specialized indiagnostic equipment (MDI), rehabilitation, health andwellness (RGMD), biomedical equipment (OMS Ratto,Lorenz Lifetech), complex electromechanical products(Esacontrol)

WHY INVEST


• STRENGTHS: the company has solid fundamentals (though it faced a management/financial crisis); this asset could be a strong entry point for a new investor in this sector; specialized workforce;

• POTENTIAL MARKETS: current buyers include Alcatel Lucent, Esaote, Centervue, Framos, Ami Italia, Elt, Selex ES, Elman, Telco, Micro TLC, Bitron

• CHALLENGES: companies in this sector face high price (labour costs) and non-price competition (technological innovation). Demand for these products is sustained but the company lost an important customer (Alcatel Lucent). The company needs to regain market shares through a new management and new investments in technology innovation.


• Company acquisition

• PUBLIC INCENTIVES: national and local government may provide support for a plant reconversion


2011 2012 2013

Turnover ~ 77 ~ 104 ~ 52

EBITDA ~ 3.4 ~5.0 ~ 4.2

Employees 102

Net Financial Position ~ 5.0 ~ 9.8 ~ 7.7

Euro Mln, Number

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COMPANY 62 - FASHION INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company started in 1986 in the Italian fashion market, in the ready-sale sector for women.

• The company has two brands positioned in medium and medium-high segment with a competitive price compared with his competitor.

• The two brands offer the women’s total look characterized

for creativity, attention to the material, maintaining the values for the artisanal work and quality.

• The company is working worldwide with 350 multi-brand stores; 15 mono-brand (13 in Italy, 2 abroad). Distribution is diversified both for geographic area (working in Europe and Asia) and for distribution channels (mono/multi brand stores). Their business plan (2015-2018) is to open 22 new stores in markets with the higher potential.





2013 2014 2015 F

TURNOVER 7.11 8 9.3

EBITDA 0.64 1 1.4

EBITDA % 9% 12.5% 16%

EBIT 0.42 0.65 0.97

NFP 1.2 1.2 1.6

Euro Mln

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COMPANY 68 - FASHION INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

• The Company, founded in the early ’90, designs,

produces and distributes shoes, bags and accessories. The Company is based in Tuscany and employs 70 people.

• The company holds two companies abroad to enable its expansion into international markets.

• The Company sell its products worldwide through 2000 distributors and owns 2 flag stores. The women line and the men line represented respectively 80% and 14% of the turnover. The remaining 6% of the turnover is represented by the selling of bags and accessories.



• They are also open to discuss with Advisor for M&A or Joint venture.


Euro Mln2013 2014

TURNOVER 34.2 32.7

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• Main markets: Italy and Europe.

• International markets: mainly Middle East and Russia.

OPPORTUNITY #4 - FASHION INDUSTRY M&A OPPORTUNITIES



• Merger and Acquisition.• Turnover: 10 M €• Employees: 60• Production capability: around 300.000 pairs/year• EBITDA/Turnover: 10%• Year of incorporation: 1934

• Core business: A family run company that right from the beginning was able to quickly look to the future and in a very short space of time become the market leader in Italy in the production of children’s footwear.

• Today the traditional handcraft and manual labor combined with high technology makes the company a modern industrial complex.

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COMPANY P - FASHION INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The Company deals with licensed production and

distribution of clothing apparels.• 11th largest producer in Italy.

Asset ProfileProduction plants based in central Italy

WHY INVEST


• STRENGTHS: over 5 million of high-quality fashion items are in storage and ready for immediate sale. High-quality and producer well integrated in the global fashion supply chain. The company supplies Versace, Polo Ralph Lauren, Thierry Mugler, Tommy Hilfiger Collection etc.

• POTENTIAL MARKETS: current market share in Europe is around 5%

• CHALLENGES: the company needs to improve its responding capacity to market trends, and needs to maximize operation efficiency by reducing inventories and fixed costs


• Acquisition of the newco (under insolvency procedure)

• PUBLIC INCENTIVES: public support is available in the form of economic incentives for investments in the so called "Area di Crisi” (economic crisis area)


2011 2012 2013

Turnover ~ 125 ~ 120 ~ 60

EBITDA ~ 2.60 ~ 1.00 ~ -0.01

Employees 600

Net Financial Position ~ 0.1 ~ 17 ~ 11

Euro Mln, Number

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COMPANY Q - FLAT GLASS M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The Company manufactures over 1,300 tons/day of float

glass (35% of all float glass in Italy). Glass for thermicand acoustic isolation, design, solar control

• The Company is among the largest producers of flatglass in Italy.

WHY INVEST


• STRENGTHS: high quality production lines: more than 300 millions euro have been invested in different production lines over the last 10 years; direct management of design, construction, start up and production set up. Italy is worldwide acknowledged leading producer of high quality glass

• POTENTIAL MARKETS: Europe and the world (especially for the construction sector and transformation industries)

• CHALLENGES: the company is undercapitalized and is seeking a buyer/new partner for future development.


• Company/asset acquisition


2011 2012 2013

Turnover ~ 88 ~ 80 ~ 74

EBITDA ~ 16 ~ 2.2 ~ -3.5

Employees 195


Euro Mln, Number

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COMPANY 60 - FOOD AND BEVERAGE M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company creates and distributes Made in Italy craftsmanship ice cream of high quality. The product will be marketed by a multitude of economic operators and in different locations (bars, restaurants, structures sports and recreation, shopping centers, etc.).

• The company sells in the national market 100% of the product.

• The ice cream sector does not suffer from the consumer crisis and is the driving force in agribusiness field. Household spending to buy Italian ice cream reached 2.026 billion euro in 2013 (1% a/a).

• The owner of the company wishes to ensure the business continuity by selling quotes of the company.



2012 2013 2014

TURNOVER 2,4 3,8 6,7

EBIT 0,4 0,7 1,4

Euro Mln

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COMPANY 64 - FOOD AND BEVERAGE M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company started in 1966 beginning with few partners. Now it is working with more than 70 cheese-factory and 2000 associates from all over the region producing Grana Padano, Parmigiano Reggiano and other derivate.

• The company is strongly focused within the territory, which distinguish the products from its competitors. It’s

also focuses in the monitoring of all the production and supply chain and it guarantee the use of the best technologies but still with the respect of the Italian traditions.





2013 2014 2015 F

TURNOVER 364 410 475

EBITDA 14 13 15

EBITDA % 3.14% 3.25% 4.20%

EBIT 10.92 12.3 14.24

NFP 203 198 174

Euro Mln

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• Vineyard Montalcino’s wines are distributed all over the world – with its current core markets in Switzerland, the UK, Germany, Austria and Belgium.

OPPORTUNITY #8 - FOOD AND BEVERAGE M&A OPPORTUNITIES



• Sell out.• The entire vineyard with its operations has net assets in the amount of € 6 Mln (approx 12 Mln € E.V. and 6 m€

Debt).

• Features of the winery: An exclusive 21 hectares vineyard in Montalcino, Tuscany, Italy: 16 hectares of vineyard of which 8.5 hectares Brunello DOCG.

• Production of approximately 100,000 bottles of top rated red wines with 92 to 95 points from international wine experts such as Wine Spectator, Decanter and Robert Parker.

• The winery includes:- A wine cellar with approx. 100,000 bottles of already

top rated wines and additional 1,900 hectoliters of maturing wine equivalent to 3 years of sales;

- Authentic Italian country house overlooking the vineyard with additional land dedicated for further construction;

- Building permit for an expansion of the existing cellar to a 3-floor state-of-the-art wine cellar including space for storage, tasting areas and show rooms to increase marketing as well as space for business events.

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• Vineyard Montalcino’s wines are distributed all over the world – with its current core markets in Switzerland, the UK, Germany, Austria and Belgium.

OPPORTUNITY #9 - FOOD AND BEVERAGE M&A OPPORTUNITIES


• Features of the winery: A land surface of 53 ha of which 27 ha of planted vines, divided into 4 vineyards with specific terroir characteristics, nestled in a preserved environment and landscape.

• One of the top 10 Montalcino wine estates by size, only 20 years after its creation in 1994.

• Annual coherent production capacity of about 200,000 bottles, divided into 7 cuvées, granted with 90 + Wine Spectator notations.

• Experienced managers in charge of the estate since the beginning, assisted by a famous consultant oenologist.

• Higher than average ratio of Brunello vineyards vs total hectares, positioning this farm on the top tier of Brunello producers.


• Sell out.• Operating revenue varies significantly depending on yearly production available for sales.

• In last 4 years average revenue between 900 and 1,300K€, with EBITDA ranging from 300 to 500 K€.

• Fixed assets value around 15 m€; current assets around 5 m€ include a high level of inventories, as ageing for Brunello is 5 years.

• Financial debts at end December 2014 amount to approx9.8 m€.

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COMPANY C - FOOD AND BEVERAGE M&A OPPORTUNITIES

COMPANY OVERVIEW

• The Company bottles water from water gushing at a depth greater than 500 meters.

• The bottling factory of mineral water is located on an area of 28,000 sqm in Apulia.

• In June 2015 the Company asked for permission to build an extension to be used as storage and loading area for a total of about 2,500 sqm.

• The Company has a mining permit on 990,000 sqm of surface, and in April 2011 a second well was drilled, getting permission to search water samples which were subjected to chemical analysis, and flow test reporting highly satisfactory results. The second well was created to add two more to the existing labels on the market, to meet the demands of Private Label.

• Acquisition• The company is offering shares to a foreign investor.



• The mineral water bottled by the Company is a good diuretic water, characterized by low saltiness but present, of modest recovery of minerals and a good osmotic balance.

• In 2014 the Company sold a total of 95,000,000 litres for 7 types of products: natural mineral water, slightly sparkling and sparkling in different sizes.

• Distribution, mainly regional, represents a market share of 15% of the local market.

• For its particular concern about the environment the company has gained UNI EN ISO 14001 since 2001

• Sales in 2014 is 5.8 million euro with a positive result before tax of 61% compared to the prior year. That turnover is developed for 54.30% in the D.O. (retail) and the remaining in the N.T. (wholesalers)

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COMPANY D - FOOD AND BEVERAGE

COMPANY OVERVIEW

• The company operates in the production and marketing of a Mineral Water.

• Started in 2011, opened its first plant in 2013.• The water gushing is located in Veneto.• The Company uses new high tecnology machinery, with a

production capacity of 6.000 bottle/hour, paying particular attention to the nature, exploiting renewable energy.

• The Company looks for a partner to grow its business in the mineral water in glass bottle.

• Various possibilities, the Company is also getting the authorization to open a Thermal center, lacking in the area which lies in proximity of an historical center very popular with tourists.



n.a.

• The main feature of the water is the perfect balance of Minerals, with a PH 7.2, a low sodium content and a residue equal to 386 mg / l, making it a very light Water ranking the first among Oligomineral Waters.

• The Company is dedicated to produce exclusively in glass bottles, in various sizes, all characterized by a particularly elegant form.

• The Company is penetrating medium/high market of glass bottled water in Italy and searching to develop their presence abroad.

• The company is completing procedures to gain Certifications ISO 22000 and FSSC 22000.

M&A OPPORTUNITIES

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COMPANY OVERVIEW

• The Company bottles natural mineral water with low mineral content. The bottling factory of mineral water is located on an area of 28,000 sqm in Southern Italy. The Company has a mining permit on 990,000 sqm of surface and developed a project of ecosustainability through production of clean energy, reducing PET consumption (Lightweighting), use of natural or remanufactured plastics (Bio Bottle – RPET).

• The automated bottling line has an effective capacity of 13,500 bottles/hour (0.500 cl. size), 12,000 bottles/hour (0.750 cl. size) and 9,000 bottles/hour (2 lt. size).

• The Company is looking for a partner for bottling water in both PET and glass for the food service Industry.

• Participation• Joint venture



• Sales in 2014 is 5.8 million euro with a positive result before tax of 61% compared to the prior year. That turnover is developed for 54.30% in the large scale retail trade and the remaining in the wholesale.

• Asset value ~ € 4 Mio• Investment amount ~ 1,5 Mio• Total asking price ~ € 5,5 Mio

• The Company is positioned as eco-sustainable large-scale distribution and vending with PET packaging “Premium” screw-cap glass bottle (0.75/0.33 cl size) for “Fine dining”.

• Company strenghts:• better purchasing and supply of raw materials;• reduction of PET weight and new bottle design after

research and innovation activity.

M&A OPPORTUNITIES

COMPANY E - FOOD AND BEVERAGE

35

COMPANY H - FOOD AND BEVERAGE M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The Company manufactures and sales flour and other

grain mill products, including pasta and pasta-relatedproducts

• The Company has some well-known Italian brands in itsportfolio

Asset ProfileProduction plants are based in southern Italy

WHY INVEST


• STRENGTHS: sector where Italy has world-leading recognition. High-quality products with well established brand in the Italian market

• POTENTIAL MARKETS: the company supplies wholesale distributors in Europe (for pasta products) and in Italy (for flour products) and could expand market penetration, especially in Europe

• CHALLENGES: the company has recently lost a number of large clients and is facing a liquidity crisis. It needs to expand its international market penetration and create synergies with international wholesale distributors


• Company merger & acquisition2011 2012 2013

Turnover ~ 80 ~ 45 ~ 13

EBITDA ~ -3 ~ -1 ~ -1

Employees 43


Euro Mln, Number

36

COMPANY R - FOOD AND BEVERAGE M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The Company is engaged in the production and

distribution of fresh eggs and flour products.• The Company owns a high-quality egg brand. And a well-

known bread brand• Main clients are wholesales distribution channels (Coop,

Conad, Pam, Auchan, Carrefour, etc.)• Production plants are located in Central Italy.

WHY INVEST


• STRENGTHS: strong expertise in the food sector with high-quality egg and pasta products, and consolidated logistical experience (24 hour delivery). Italy is world-leading in this sector.

• POTENTIAL MARKETS: the company supplies mainly the Italian market and has the potential to expand in the non-fresh product European market (e.g. long-conservation, bread and pasta products).

• CHALLENGES: the company needs to transform its business from fresh products to long-conservation products to meet new market demands, to cut-off non-core business, and to increase market penetration.

• The Company is looking for an Industrial investor with experience in the food industry.

• Company acquisition or business partnership.


2011 2012 2013

Turnover ~ 118 ~ 90 ~ 63

EBITDA ~ -2.5 ~ -5 ~ -6

Employees 250


Euro Mln, Number

37

COMPANY U - FOOD AND BEVERAGE M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The Company is engaged in the production and

processing of eggs and other poultry products• Supplier of famous meat brand• Production plant located in Central Italy• Liquidation procedure

WHY INVEST


n.a.

• STRENGTHS: the company is located at the center of Italy’s poultry rearing district. Poultry rearing in the

Region increased almost tenfold over the past 7 years• POTENTIAL MARKETS: domestic demand for poultry

products has increased over the past few years thanks to competitive prices vis-à-vis red meat products.

• CHALLENGES: the company was organized as a cooperative and it has high fixed costs due to operational, management, and logistical inefficiencies. The small-scale business model is no longer sustainable and the company needs to upgrade/expand its breading farms and infrastructures.



• PUBLIC SUPPORT: support from the local government (Region) is available

38

COMPANY 57 - FURNITURE & CRAFTS M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company, established in 2006 in Northern Italy, designs, engineers and distributes products for home decoration.

• Main products are articles and accessories for interior window, multi-purpose furniture and kitchens with particular attention to the contemporary trends of living and furnishings.

• The reference market is the large scale retailing market all over Italy with a 80% of the total turnover. Particular attention is also for the traditional channel which represents 10% of the turnover.

• The owner of the company wishes to ensure the business continuity by selling quotes of the company. Size of the deal 2,5 mln euro.




2012 2013 2014

TURNOVER 14.3 13.6 12.9

EBITDA (0.1) (0.5) (0.5)

39


COMPANY OVERVIEW

• The company was founded in 1989 and its core business is to design and produce furniture.

• The Company is leader among its competitors.

• The company offers a tailor made service by proposing specific furniture design for every room of the house.

• The company can also provide a ready-to-use house furniture with four line of different design style.





2013 2014 2015 F

TURNOVER 5.5 6.2 7.1

EBITDA 0.5 0.68 0.92

EBITDA % 8.7% 11% 13%

EBIT 0.25 0.43 0.67

NFP 0.3 0.32 0.56

Euro Mln

40


COMPANY OVERVIEW

• The Company is a leading firm in Europe for the design, production and realization of prefabricate bathroom and kitchens both in concrete and steel for any type of building such as; hotels, hospitals, campuses and residential structures in general.

• The Company runs four plants in Italy, spread over 21.000 square meters, and produces about 6.000 prefabricated units per years. Headquarter is based Lombardy.

Sales breakdown per product (2014):• 35% baths for residential;• 35% baths for hotels;• 25% baths for students campus;• 5% baths for residences for elderly.


• Sale of the majority/minority of the share capital (the younger generation is willing to stay, the older would exit).

• Sales and profitability in 2015 are increasing as compared with 2014. The Company as recently established two joint ventures with two Asian firms. One based in Shanghai and the other in Taiwan.


2013 2014

TURNOVER 21.7 21.8

EBITDA 2.9 2.8

NFP 2 -4

Euro Mln

41

• Commercial distribution on the Italian market based on 500 Showrooms (multibrand) focused on luxury furniture and 40 agents monitoring the system.

• The company , in the last three years , has seen a market constriction due to the fact that the 93% of the sales are in the domestic market. Nevertheless the margin have been kept in active due to a strict cost politic and very low financial debts. At the moment the company has no financial problem.

OPPORTUNITY #1 - FURNITURE & CRAFTS M&A OPPORTUNITIES

COMPANY OVERVIEW

• Core business: the company produces - with 2 different brands - modern design furniture mainly for bedrooms. The core business is: production of wardrobes.

• The company owns high-tech plants located near Florence and owns a know-how based on 70 years experience in luxury furniture.

• Since 2008 the company produces furniture with extremely low environmental impact.

• Assets:- High tech plant of 13,000 sqm and a separate

showroom of 1,000 sqm;- Production capacity up to 50 wardrobes per day.



• Total sale of the company.

• Strategic partnership aimed for opening international markets.

• Turnover: 16 M€ (before the 2008 crisis: 33M€)• EBITDA/Turnover: 8% (before the 2008 crisis: 16%)• Year of establishment: 1963 • Employees: 90

42

• The company works with the most famous designers and architects all over the world.


COMPANY OVERVIEW

• The company is specialized in the production of High-level kitchen offering an exclusive and personalized product, able to take care of the most peculiar requirements, typical of who considers the “tailor-made” product their own personal and social status symbol.

• In 1973 the factory plant was constructed on an area of 60,000 m2 and that is how industries came to be a modern efficient company, with a clear innovative character and with the entire production line for its kitchens on the factory grounds, from the working of the wood, marble, metals and alloys to the painting, varnishing, finishing of the doors and delivery of the finished product.



• Strategic partnership with international investor in order to set up the Company over the Luxury-level.

• Turnover: 2,6 MLN € (before the 2008 crisis: 8M€)• Year of establishment: 1963 • Employees: 35

43

• The company works with the most famous designers and architects all over the world.


COMPANY OVERVIEW

• Core business: Chairs, tables and lounge seating modern style. The company is a worldwide leader in the design and production of innovative, quality seating products for the contract furniture industry.

• Assets: The company presently has state of the art manufacturing facilities of about 15,000 m2 (170,000 sq. ft.) in Italy and 7,000 m2 (78,000 sq.ft) in Vietnam; with an additional assembly, upholstery & distribution facility in the United States. Both manufacturing facilities are equipped with the latest robotic bending and welding technologies capable of addressing any particular client request from individual orders for offices and restaurants to entire fit outs for large scale projects such as hotels, public spaces and cruise ship lines.

• Production Capability: 3 x present turnover.



• Strategic partnership or total sell-out.• Turnover: 9 M €• Year of establishment: 1983 • Employees: 25• Production Capability: 3 x present turnover

44

COMPANY S - ICT M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• One of the largest producers of electrical equipment in

Italy.

• ICT production and consultancy: design, development,and installation of new-generation integrated multi-servicenetworks (voice/data/video), enabling voice trafficmanagement.

WHY INVEST


• STRENGTHS: Leader in the production and installation of new-generation telecommunication networks (IP protocol). Strong know-how and partnerships with over 40 major operators and service providers; its also supplies the Italian government. The Company has a long-term track-record of production and high-standing relations with local stakeholders, and it has been contributing to regional and national economic development for years.

• POTENTIAL MARKETS: Strong international penetration: export markets include Europe, UAE, Saudi Arabia, Argentina, Brazil, Colombia, Peru

• CHALLENGES: The company's profit margins have decreased since 2009. Output has reduced and the company is highly in debt (debt restructuring is under negotiation).

• The Company is looking for an ICT partner.

• Long-term industrial partnership.

• PUBLIC INCENTIVES: The company is currently seeking a commercial partner to re-launch the business: bridge financing from the Italian government may be available to facilitate the transition.


2011 2012 2013

Turnover ~ 322 ~ 258 ~ 257

EBITDA ~ 3.4 ~ 20 ~ -7

Employees 1,500

Net Financial Position ~305 ~277 ~185

Euro Mln, Number

45

COMPANY X - INDUSTRIAL MACHINERY

COMPANY OVERVIEW

The Company• The Company is engaged in manufacturing of metal

forming machineries, equipment and accessories• Product-related services such as installation,

maintenance, and repair.• The company is among the largest Italian manufacturer.• Established in 2010 by a firm specialized in industrial

turnarounds with the objective of creating greatereconomies of scale between three companies, objectiveachieved: the company has a positive EBTDA.

• The property was placed under temporary receivership in March 2015.

• The plants are located in Northern Italy.

WHY INVEST


• STRENGTHS: Internationally competitive metallurgic company. It operates three plants based in Italy’s leading industrial district for mechanic products. The company is the result of the merging of three companies with a long track record in the manufacturing of metal forming machineries.

• POTENTIAL MARKETS: high international export potential. Current markets are the EU (44% of all orders), the BRICS (40%), Asian and North America (16%)

• CHALLENGES: Though the EBITDA is positive, the Company has recently become highly indebted due to its inability to finance the high level of R&D investments required to remain globally competitive.

• Looking for financial/industrial investor

• Company/branch acquisition through public bidding managed by the Ministry of Economic Development and the company’s caretaker (Commissario Straordinario)

• PUBLIC INCENTIVES: national and local government may provide support for a plant conversion.


2011 2012 2013

Turnover ~ 67 ~99 ~64

EBITDA ~ 6 ~7 ~1

Employees 340

Net Financial Position ~ 7 ~23 ~31

Euro Mln, Number


ADMINISTRATOR

46

COMPANY 58bis - INDUSTRIAL MACHINERY M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company, located in Northern Italy, operates since the fifties in the design and production of engines and electric generators both asynchronous and synchronous with permanent magnet . Its products can be used in various industrial environments (marine, oil and gas, small wind turbines, etc.

• The company's philosophy is based on the objective of solving specific problems with products which guarantee the best performance since developed in a context of constant technological innovation

• The shareholders are looking for a partner to develop the company growing strategy in the next years.

• Amount of the investment: 0.5 to 1 mln euro.



2013 2014 2015


EBITDA 0.52 0.53 0.51

EBITDA % 5.3 5.1 5.4

Euro Mln

• The technical progress has allowed the company to beamong the first companies in Europe in design andconstruction of a new generation of engines . Thecompany ability to propose to the market newapplications and implement them successfully constitutesan important reference for potential new customers.

47

• Export ratio: 60%

• Countries: Japan, USA, India , Brazil, Korea

COMPANY 1 - MECHATRONICS M&A OPPORTUNITIES



• Looking for financial/industrial partner• Turnover: € 26 mln (2013), € 17 mln (2012)• Employees: 89

• Operating since 1980 in the field of civil and industrial plant engineering, it is a leading supplier of EPC (Engineering – Procurement – Construction) plants, in particular in the field of Automation Systems for Industrial Processes. The company plays a key role in revamping existing plants regarding the mechanical, electrical instrumentation, automation and control areas.

48


• Countries: Germany, Czech Republic, UK, China, Russia




• Looking for financial/industrial partner• Turnover: € 48 mln (2013), € 49 mln (2012)• Employees: + 300

• Made up of two main production divisions located in Northern Italy, the Automation, and the Moulds & Assembly (high speed assembly equipment), the company boasts a worldwide presence with production plants also in Hungary, China, USA, as well as commercial seats in Russia and China. The application fields include the automotive, the heat exchange and HVAC, the compressors and household equipment field, the mechatronics, and then, the food and beverage field, the cosmetics and medical field.

49


• Argentina, Mexico, UK, Russia, Spain




• Looking for financial/industrial partner• Turnover: € 25 mln (2012), € 22.5 mln (2011)• Employees: 100

• The company is active in the design and construction of machines and systems for automation of production processes. Divisions: Concept Labs – focused on products development and engineering services; Flexible Automation – specialized in design and construction of customized automation lines and special machines for assembly, handling or special production of single parts of a final product, complete lines or stations for special manufacturing issues as welding, gluing, sealing including test and measurement operations; High Speed Machines - specialized in design and manufacture of machines and lines for high-speed assembly; Cells &Technologies – that designs and manufactures machines and equipment for welding and tooling of plastics components

50

N.A.

OPPORTUNITY #6 - MEDICAL DEVICES M&A OPPORTUNITIES



• Acquisition or strategic partnership.• Turnover: 400 K €• Year of establishment : 1995• Employees: 18

• Core business: Rehabilitation device for hemianopia and quadrantanopia controlled from our cloud for simple remote care; production of nanofibers. XXXX srl has become a national reference for the supply of electro spinning devices, with increasing demand from different leading European research centers, as well as universities and companies in North & South America.

• Key products provided by the company can be summarized in the categories of Electro spinning devices; Pump sand syringes; Needles for electro spinning; Collectors and Modular Supports. Medical Device Classification: No Health Canada/FDA approval necessary, technology produces initial nanomaterial. CE approved. Immediate availability.

51

• Commercial distribution on the global market based on 14 distributors and 8 agents monitoring the system and focused on medical devices sales.

• Synergies and collaborations with the Italian National Research Council CNR, the University of Pisa and several research institutes at global level.

• Strong scientific references on our products usage validating the system.

• The Cardiovascular Suite is CE marked and the company got the ISO 9001:2008 certification.

• High market’s recognition and high investments budget

ratio.

OPPORTUNITY #7 - MEDICAL DEVICES M&A OPPORTUNITIES



• Sale of shares of the company.

• Strategic partnership aimed for opening international markets.

• Turnover: 200K €• Year of establishment: 2011 • Employees: 4

• Core business: is a Spin-Off company of the Italian National Research Council and University of Pisa, specialized in Medical Imaging and Innovative Ultrasound Technologies.

• The company produces its Cardiovascular Suite, a CE marked medical device software for assessing early markers of cardiovascular risk.

• The company aims to design a next generation of biomedical ultrasound systems.

52

COMPANY M - METALLURGY SECTOR M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• Steel foundry established in the mid 1900 and specialized

in railway and tramway casting, valves, pump and turbinecasings for oil, gas, petrochemical industries and powergeneration

• The National Railway Company is among its main clients• Wholly owned by a foreign company producing railway

and tramway turnout constructions

Asset Profile• Production plants based in southern Italy

WHY INVEST


• STRENGTHS: among the largest foundries in Italy with high product specificity in the rail sector, with ISO quality certification and access to a commercial port

• POTENTIAL MARKETS: low level of internationalization and focus mainly on the Italian market, with high potential on foreign market

• CHALLENGES: declining investments in recent years resulted in a loss of competitiveness and low product innovation, especially on new technology-intensive products (the railway sector has experienced important changes in technology, research, innovation and diversification)


• Acquisition under favorable conditions

• Public support is available from central and local authorities (regions, provinces or municipalities) contributing financially (subsidized loans or grants) and speeding up the bureaucratic process for future settlements.


2011 2012 2013

Turnover ~ 9 ~ 18 ~ 18

EBITDA N.A. ~ -0.4 ~ -0.2

Employees 100

Net Financial Position ~ 0.6 ~ 0.4 ~ 0.5

Euro Mln, Number

53

COMPANY V - METALLURGY SECTOR

COMPANY OVERVIEW

The Company• The Company is engaged in alumina and aluminum

production (lost-foam casting), processing, andintermediate products.

• The property was placed under temporary receivership in September 2012.

• The plant is located within a metallurgic district in Central Italy.

WHY INVEST


• STRENGTHS: The company is well positioned in the European supply chain. An Austrian engine producer has already expressed an interest in creating a partnership with the Company.

• POTENTIAL MARKETS: The company works mainly for automotive and electronic engineering clients (e.g. FIAT and Bosch). The European market is stagnant and the company needs to expand to the USA which is expected to grow by 4.4% per year up to 2022.

• CHALLENGES: decreasing margins and sales. Orders from automotive producers have declined over the past five years and aluminum casting production has faced a global slowdown since 2008. The company has also faced management problems and needs internal restructuring.


• PUBLIC INCENTIVES: national and local government may provide support for a plant reconversion.


2011 2012 2013

Turnover ~ 26 ~ 4.5 n.a.

EBITDA ~ 260 ~-18 n.a.

Employees 266 n.a.

Net Financial Position ~ 8 ~ 5.5 n.a.

Euro Mln, Number


ADMINISTRATOR

54

COMPANY 39 - PETROCHEMICAL INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company is a group of 5 firms, that work primary in the chemical and petrochemical sectors and cover different activities: engineering plant, production and maintenance of single machines.

• With more than 40 years of experience and after the corporate restructuring, happened in 2011, today the company can claim order that engages the entire production capability until autumn 2015.

• The headquarter is situated in Italy and it employed around 95 people.

• Products: facilities, equipment, piping, control system, power supply and power panels.

• The company major clients are big refineries and world wide contractors (eg. Saipem, Eni).

• The installed plants are currently in operation all over the world: Russia, Australia, United Arab Emirates and EU countries.

• Major interest to find adequate financial resources to support the working capital needs consequent to the consolidated operating growth.

• Amount of the investment: 2.5 mln euro.




2013 2014 F2015

TURNOVER 5.5 7.5 12.1

EBITDA 0.6 1.5 2.4

EBITDA % 10% 15% 20%

55

COMPANY L - PHARMACEUTICAL EQUIPMENT M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• The Company is engaged in the design and manufacture

of medical and dental instruments and suppliesspecializing in equipment for renal fluids circulation

• The Company is wholly owned by a European Research and Innovation Center, dedicated to funding medical research

WHY INVEST


• STRENGTHS: high-quality production of biomedical products, leader in peritoneal dialysis instruments. Growing global demand for medical products.

• POTENTIAL MARKETS: in the context of an ageing population in Italy and Europe the company has great potential to expand its business through agreements with welfare institutions and directly through private clients


• Company/asset acquisition


2011 2012 2013

Turnover ~ 17 ~ 15 ~ 17

EBITDA ~ -2 ~ -0.2 ~ 2

Employees 120

Net Financial Position (€ ‘000)

~ -1 ~ -3 ~-10

Euro Mln, Number

56

COMPANY 56 - PHARMACEUTICAL INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

• The Company, a full service CRO (Contract Research Organization) based in Northern Italy, is a provider of R&D, Clinical/Observational Trials and Post-Marketing services for leading edge corporations and distinctive players of the pharmaceutical industry.

• The Company is fully controlled by a family-owned Group Holding and it performs high quality clinical studies (especially Phase I and II) keeping the overhead costs reasonable and exploiting its excellent capability to recruit, motivate and retain talents.

• The company has a recognized cutting-edge expertise for studies in oncology, gastroenterology, dermatology and ophthalmology.

• Sale of 100% of the Company’s share.



Euro Mln, Number

2012 2013 2014


EBITDA 0.3 0.5 0.5

4%

39%

42%

15%

North AmericaDomesticEuropeJapan

57

N.A.

OPPORTUNITY #5 - PHARMACEUTICAL INDUSTRY M&A OPPORTUNITIES



• Sell out.

• Merger.

• Strategic partnership or Joint Venture.

• Turnover: 500 k €• Year of establishment: 2010• Employees: 3

• Academic spin-off established in July 2010 and accredited by the Universities of Pavia and Siena. The enterprise has headquarters and legal venue in Milano, while the experimental laboratories are located in the Universities of Pavia and Siena.

• The core business of the spin off is the synthesis, development, and commercialization of compounds known as “metal-nonoates” as efficient vasorelaxingagents to be used in cardiovascular diseases, and possibly in other diseases. In addition, the enterprise provides the long standing experience of its team in the synthesis and pharmacological characterization of potential new drugs to pharmaceutical and biotechnological companies.

58

COMPANY O - PHARMACEUTICAL INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• Trade, manufacturing, processing and packaging of

chemicals and pharmaceuticals products• Global leader in the pharmaceutical sector, with branches

in over 100 countries. Leading producer in Italy with over2,600 employees

Asset Profile• Production plant owned by the multinational parent

company

WHY INVEST


• STRENGTHS: opportunity to create a partnership and signing purchasing contracts with the company; specialized workforce; market access

• CHALLENGES: the plant is specialized in the production of chemical products and needs to be restructured by reducing fixed costs and upgrade the current facilities

• PUBLIC INCENTIVES: public support is available for energy efficiency investment from the local Regional Government

• The Company is looking for an Industrial investor/partner

• Asset acquisition/ business partnership for a chemical plant in northern Italy


2011 2012 2013

Turnover ~ 1,400 ~ 1,400 ~ 1,500

EBITDA ~ 340 ~332 ~ 323

Employees 2,322

Net Financial Position ~ 3.6 ~ 2.5 ~1.4

Euro Mln, Number

59

COMPANY 66 - PLANT DESIGN M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company started operations in 2007 on the basis of previous experiences and know how in this sector.

• The company won an European Grant for its innovative process technology.

• The company offer range from single machines to complete turn-key plants and services. It serves the markets worldwide.



• They are also open to discuss with Advisor for M&A or Joint venture.


2013 2014 2015 F


EBITDA 0.88 1.04 1.01

EBITDA % 16% 17% 15%

EBIT 0.16 0.18 0.2

NFP 0.01 -0.03 1.2

Euro Mln

60

COMPANY W - RAILWAY

COMPANY OVERVIEW

The Company• The Company is engaged in design, construction,

renovation, conversion, overhaul and maintenance ofrailway vehicles and in the manufacturing of railwaylocomotives and rolling stock.

• The company is among the largest Italian railwaymanufacturer.

• The property was placed under temporary receivership in April 2014.

• The plant is located in Northern Italy.

WHY INVEST


• STRENGTHS: opportunity to “lease” (and eventually to

sell) the plant to a potential industrial partner with experience in the railway vehicle sector

• POTENTIAL MARKETS: Supplier of some of the major national and international railway vehicle producers and operators (e.g. Ansaldo Breda, Trenitalia, and Trenord).

• CHALLENGES: high fixed and personnel costs, due to low investments, over the past few years have produced in negative margins. The Company needs to transform its labour-intensive business model and for this it needs substantial investments.


• PUBLIC INCENTIVES: national and local government may provide support for a plant reconversion.


2011 2012 2013

Turnover ~ 44 n.a. n.a.

EBITDA ~ 5 n.a. n.a.

Employees 186 n.a. n.a.

Net Financial Position ~ 20 n.a. n.a.

Euro Mln, Number


ADMINISTRATOR

61

COMPANY AA - RETAIL

COMPANY OVERVIEW

The Company• The Company is engaged in the retail sale, distribution

and logistics of furniture, accessories and home decoritems.

• Holding of the brand Services and Logistics companies.• The property was placed under temporary receivership in

April 2015.• The plants are located in Northern Italy.

WHY INVEST


Acquisition through public bidding managed by the Ministry of Economic Development and the company’s

caretaker (Commissario Straordinario)

CHALLENGE: Main competitors include Ikea Italy, Grancasa, and B&B Italy.


2011 2012 2013

Turnover ~ 50 ~46 ~47

EBITDA ~ 13 ~5 ~5

Employees 175


Euro Mln, Number


ADMINISTRATOR

62

COMPANY OVERVIEW

• The company was founded in 2000, at beginning the same developed and produced software system engineering program for automotive sectors, with a focus on Telemetria, Carplay and Elaboration data. Thanks to its experiences, the company, today, is able to transfer the technical and technological expertise from the automotive sector to other application areas as railway and aerospace.

• The company headquarter is located in center Italy: 13,000 sm. of offices and R&D center, 90 employees (60% highly specialized engineering).

• New technologies are developed and evaluated by the R&D department.

NOTE

• The shareholders are looking for a partner to develop the company growing strategy in the next years.

• Amount of the investment: 2.5 to 3.5 mln euro.

COMPANY 38 - SOFTWARE ENGINEERING M&A OPPORTUNITIES

• The company is focused mainly on the Italian market and can claim remarkable clients for all sectors:- Automotive: Ferrari, Magneti Marelli, Harman;- Aerospace: Selex Es, Temis;- Railway: Genaral Motors, Intecs.



2011 2012 2013 2014 F2015

TURNOVER 6 6.9 7.7 8.7 11.1

EBITDA 0.7 0.8 1.6 1.1 2.2

EBITDA % 11% 11% 20% 13% 20%


63

2014 2015

TURNOVER 24.6 22.1

EBITDA 5.3 5.1

COMPANY 59 - TEXTILE INDUSTRY M&A OPPORTUNITIES

COMPANY OVERVIEW

• The company has been working in the field of textile ennobling dyeing and finishing of threads on bobbins in particular and in the commercialization of a wide range of raw and dyed yarns for weaving (clothing, furniture, accessories), knitwear (circular or straight) and hosiery.

• The production capacity is 15,000 Kg / day over three shifts. All dyeing machines are equipped with advanced Sedomat control units that offer high-efficiency performances for the automation of complex dyeing equipments.

• Major interest to find adequate financial resources tosupport the working capital needs consequent to theconsolidated operating growth.



Euro Mln

• To offer customers innovative products and processes,according to the changing needs of the market, thecompany have established a special relationship with thereference entities of the entire textile chain, from spinnersto designers, from university research centers tolaboratories accredited with the aim to research anddevelop new materials and new effects.

64

COMPANY J - TOURISM M&A OPPORTUNITIES

COMPANY OVERVIEW

The Company• Spa and Golf complex providing thermal, sanitary and

leisure services• The average revenue of the first 10 Italian companies in

this sector is € 5.8 million

Asset ProfileLocated in the center of Italy, the area is known for itsnatural springs and thermal waters

WHY INVEST


• STRENGTHS: access to some of the most famous thermal springs in Italy

• POTENTIAL MARKETS: well-recognized center for well being at close distance from important tourist destinations

• CHALLENGES: the company has traditionally provided services to the National Health Service. It needs to upgrade its business model to a modern SPA and become a high-end well-being center.

• PUBLIC INCENTIVES: public support is available from central and local authorities (regions, provinces or municipalities) contributing financially (subsidized loans or grants) and speeding up the bureaucratic process for future settlements.

• The Company is looking for an investor with experience in tourism industry



2011 2012 2013

Turnover ~ 2 ~ 1 ~ 1

EBITDA ~ -0.8 ~ -1 ~ -0.5

Employees 25


Euro Mln

65

COMPANY Y - TRANSPORTATION

COMPANY OVERVIEW

The Company• Low-cost passenger airline company established in 1998

operating scheduled and charter flights from Italy tovarious international destinations.

• Third largest Italian operator.• The fleet currently counts:

- 3 Boeing 767- 6 Boeing 737- 2 Piaggio 180

• The Company was placed under temporary receivership since May 2014.

• Public bidding to be opened

WHY INVEST


• STRENGTHS: available slots in the major Italian airports and immediately available for sale. Current lower fuel cost contributes to reduce production costs.

• POTENTIAL MARKETS: Current markets include Italy, Spain, Turkey, Greece, Albany, Russia, Cuba, Egypt, Jamaica, Mexico

• CHALLENGES: company needs to increase profit margins in the core business (low-cost passenger transport) and maximize operation efficiency.

• Looking for investor with experience in passenger airlines



2011 2012 2013

Turnover ~ 297 ~263 ~192

EBITDA ~ 3 ~-14 ~-13

Employees 489


Euro Mln, Number


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INVEST IN ITALY PPORTUNITIES FOR JAPANESE … maintenance systems ... 2012 2013 2014 TURNOVER 49 55...

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Transcript of INVEST IN ITALY PPORTUNITIES FOR JAPANESE … maintenance systems ... 2012 2013 2014 TURNOVER 49 55...