INVESTMENT OPPORTUNITIES IN TALY FOR … investment opportunities in italy for turkish companies...
Transcript of INVESTMENT OPPORTUNITIES IN TALY FOR … investment opportunities in italy for turkish companies...
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INVESTMENT OPPORTUNITIES IN ITALY
FOR TURKISH COMPANIES
ANKARA ▪ ISTANBUL ▪ IZMIR
October 2015
TURKISH-ITALIAN COOPERATION MEETING
1ST FDI ATTRACTION ROADSHOW
THE ITALIAN GOVERNMENT
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SAMPLES OF INVEST OPPORTUNITIES: INDEX
• Food and Beverage 27 • Fashion Industry 23 • Real Estate 20 • Automotive and Components 8 • Construction Material 7 • Industrial Machinery 6 • Textile Industry 6 • Pharmaceutical Industry 3 • Metallurgic Industry 2 • Chemical Industry 1 • Components Industry 1 • Electronic Equipment 1 • Flat Glass 1 • Furniture & Crafts 1 • ICT 1 • Petrochemical Industry 1 • Pharmaceutical equipment 1 • Railway 1 • Retail 1 • Software Engineering 1 • Tourism 1 • Transportation 1 • White Goods Industry 1
... and in 23 sectors 116 projects in 17 Regions…
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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
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
Euro Mln, Number, 2013
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COMPANY OVERVIEW
COMPANY 54 - AUTOMOTIVE AND COMPONENTS
MARKETS & COMPANY STRUCTURE
• 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
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• 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
MARKETS & COMPANY STRUCTURE
• 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
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• 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 euro mln, EBITDA of
18 mln euro , net debt of 34 mln euro.
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COMPANY 58 - AUTOMOTIVE AND COMPONENTS M&A
OPPORTUNITIES
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 Comapny 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.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
Euro Mln, Number, 2014
2012 2013 2014
TURNOVER 49 55 57
EBITDA 3,6 5,3 5,8
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COMPANY OVERVIEW
COMPANY 52 - AUTOMOTIVE AND COMPONENTS
MARKETS & COMPANY STRUCTURE
• The company is the result of two companies founded by
the same entrepreneur. Both companies operate in two
different niches of the value chain of brake aftermarket
automotive components.
• Due to a thirty year-old experience, the company is an
European leader in the brake parts production thanks
to the quality of its products and the continuous research
of new technical solutions.
• Following requests by racing car sector, the company
R&D department together with tuning firms, developed a
Racing friction material only for competition with highly
performances.
• Company products range includes: shoes, pads, shoes
kits, discs, wheel cylinders, pressure regulating valves,
master/slave cylinders, clutch master cylinders.
• The company is certified: UNI ENI ISO 9001:2008, ECE
R-90, AAMVA.
M&A
OPPORTUNITIES
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• The company is looking for an investor to sell the existing
share. 2010 2011 2012
TURNOVER 24,6 24,0 24,8
EBITDA 5,7 5,0 5,4
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
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• 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%
* 3 Mln second year; € 5 Mln third year; € 8 Mln fourth year; € 15 Mln fifth year
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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 trucks
in 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
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• 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 parent company
• Retreading and rebuilding of rubber tyres (commercial tyres, car tyres, industrial tyres, earthmover tyres, design and 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
• The Company is looking for an Industrial investor
• 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
Net Financial Position ~ 30 ~ 18 ~ 13
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 related
products
• Engaged in the wholesale distribution of chemicals and
chemical products.
Asset Profile
• Plants for the production of chemical product, nitrogen
fertilizers, plastic materials and rubber is located in the
South of Italy.
WHY INVEST
TRANSACTION PROPOSED
• 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.
• The Company is looking for an Industrial investor
• Asset acquisition
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 1.5 ~ 1.2 ~ 1
EBITDA ~ -1.3 ~ 1.1 ~ -0.89
Employees 82
Net Financial Position ~ 1,600 ~ 790 ~ -24
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, steel wiredrawing,
steel nails and spikes, cold drawing of wire
• The Company also manufactures strands for reinforced
concrete, wire ropes, ties and lifting equipment
• The company is wholly owned by foreign European
companies
Asset Profile
• Production plants based in northern Italy, in liquidation
WHY INVEST
TRANSACTION PROPOSED
• POTENTIAL MARKETS: wide possibility to increase the
penetration into the European markets
• CHALLENGES: the first problems emerged in 2010-2011
due to financial crisis
• The Company is looking for an Industrial investor
• Company merger & acquisition
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 56 ~ 37 ~ 1
EBITDA ~ 3 ~ -5 ~ -8
Employees 105
Net Financial Position ~ 13 ~ 5 ~ 2
Euro Mln
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COMPANY 1 - CONSTRUCTION MATERIALS
COMPANY OVERVIEW PRODUCT RANGE
• The Company was founded 70 years ago by the aggregation of different companies active in the hydraulic binding business.
• One of the main Italian player for the cement market, the Company is organized into a major group active in two other business: concrete and transportation.
• The Company has production facilities in Italy in the following locations: Testi-Greve in Chianti (FI), Castelraimondo (MC), Cagnano Amiterno (AQ), Tavernola Bergamasca (BG) e Pescara (PE).
• The Company has a Turnover of €105,3 m.
FINANCIAL HIGHLIGHTS NOTE
• The Company received an offer from a major Italian
group, back in the first quarter of 2015, but was turned
down by the company’s creditor banks.
• Currently the Company may attract other offers.
Cement
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 148,6 154,2 133,2 105,3
EBITDA 12,1 15,3 5,1 (6,1)
EBITDA margin 8,1% 9,9% 3,9% n.m.
Net Profit (21,5) (23,4) (63,4) (33,6)
Fixed Assets 396,5 361,8 327,7 350,7
NFP 296,3 305,1 305,9 325,3
Shareholder's funds 126,3 122,8 59,4 69,9
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COMPANY 2 - CONSTRUCTION MATERIALS
COMPANY OVERVIEW PRODUCT RANGE
• The Company was founded in 2001 in the Modena area from the idea of its founder, who stepped into the ceramic market with an innovative patent to manufacture ceramic slabs of large surface area and minimum thickness.
• The Company products are not only used for construction purpose such as architecture and coatings for interior and exterior, but as well as new sectors such as furniture and technologies of energy generation from renewable sources.
• The Company has a Turnover of around €40 m.
FINANCIAL HIGHLIGHTS NOTE
• In May 2015 the Company’s CEO announced that the
Company is looking to expand into new markets through
JV partnerships.
Large Minimum Thickness Ceramic Surface
M&A
OPPORTUNITIES
Key financial data (€/m) 2011 2012 2013 2014
Revenues 25,0 24,1 29,8 39,4
EBITDA 3,6 3,5 6,2 8,2
EBITDA margin 14,5% 14,5% 20,9% 20,9%
Net Profit 2,2 0,5 2,5 3,6
Fixed Assets 9,6 8,5 7,6 6,5
NFP 0,0 0,0 0,0 0,0
Shareholder's funds 10,1 10,6 14,2 17,8
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COMPANY 3 - CONSTRUCTION MATERIALS
COMPANY OVERVIEW PRODUCT RANGE
• The Company was established in the 1960’s and is a family run business.
• The Company specializes in wooden houses and also produces laminated wood structures.
• The business is divided into structures, living and panels, according to its product range.
• The Company consolidated turnover for 2014 is €30 m according to Company information.
FINANCIAL HIGHLIGHTS NOTE
• The Company is looking for an external investor (Aug.
2015), the advisor has been already appointed.
• According to the Company management an ideal would
be an international player active in the Company’s
industry interested in accelerating expansion.
Precast Wood Panels
M&A
OPPORTUNITIES
Laminated Beams
Wooden Houses
Key financial data (€/m) 2010 2011 2012 2013
Revenues 10,3 9,8 14,6 12,6
EBITDA 0,7 0,8 (0,2) 1,8
EBITDA margin 6,3% 8,4% n.m. 14,1%
Net Profit 0,1 (0,3) (1,4) 0,0
Fixed Assets 11,7 12,0 12,7 12,3
NFP 9,9 10,8 13,9 12,7
Shareholder's funds 5,0 6,6 5,2 5,2
Note: The financial data are unconsolidated. According to the Company the turnover amounted
to €30 m in 2014
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COMPANY 15 - CONSTRUCTION MATERIALS M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The group is an Italian producer of paints for the construction
industry private Italian commercial refrigeration company.
• The company is looking for acquisition targets in the Middle
East.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• In 2014, the company posted a turnover of EUR 70m, with a
20% EBITDA margin. It forecasts a 10% revenue bump in
2015, due to a recent acquisition and new manufacturing
capacity, obtained pursuant to a EUR 3.5m investment to
enlarge its production premises in a village, near Venice.
• The company is also pursuing M&A deals in Europe, namely
in Germany and Turkey,.
• The company has been funding its M&A plans with internal
cash resources, and intends to continue doing so in the near
future. However, it could consider taking on an investor
through the sale of a minority stake, should midterm projects
require extra funds.
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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 four
continents and fifteen countries, exporting to over sixty
countries
• HQ based in central Italy
• Wholly owned by the parent holding company
Asset Profile
Production plant based in southern Italy
WHY INVEST
TRANSACTION PROPOSED
• 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 C02 emission costs,
decrease in demand, and increase in import. The plant
needs to be reconverted to a new concrete-related
production.
• The Company is looking for an Industrial investor
• Asset acquisition
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 132 ~ 130 ~ 110
EBITDA ~ -3 ~ -1 ~ -6
Employees 460
Net Financial Position ~ 66 ~ 158 ~ 104
Euro Mln, Number
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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 prefabricated
metallic 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
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Annual Turnover 7.5 ml in the last 4 years.
• Annual Turnover in 2014: 8 ml
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COMPANY Z - CONSTRUCTION MATERIAL
COMPANY OVERVIEW
The Company
• The Company is engaged in the production of pre-
fabricated structural metal, precast concretes, metal
structures and photovoltaic panels.
• The Company was placed under temporary receivership
since February 2014.
WHY INVEST
TRANSACTION PROPOSED
• 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.
FINANCIAL HIGHLIGHTS
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 K - ELECTRONIC EQUIPMENT M&A
OPPORTUNITIES
COMPANY OVERVIEW
The Company
• Engaged in the manufacturing of electronic equipment for
telecommunication and biomedical. Specialized in
diagnostic equipment (MDI), rehabilitation, health and
wellness (RGMD), biomedical equipment (OMS Ratto,
Lorenz Lifetech), complex electromechanical products
(Esacontrol)
WHY INVEST
TRANSACTION PROPOSED
• 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 BTP
Tecno lost an important customer (Alcatel Lucent). The
company needs to regain market shares through a new
management and new investments in technology innovation.
• The Company is looking for an Industrial investor
• Company acquisition
• PUBLIC INCENTIVES: national and local government
may provide support for a plant reconversion
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 77 ~ 104 ~ 52
EBITDA ~ 3.4 ~5 ~ 4.2
Employees 102
Net Financial Position ~ 5 ~ 9.8 ~ 7.7
Euro Mln, Number
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COMPANY OVERVIEW
COMPANY 37 - FASHION INDUSTRY
MARKETS & COMPANY STRUCTURE
• The company is part of a group of companies specialized
in Technical high-end sportswear jacket.
• The company brand was founded in 2002 inspired by
mountains with the mission to review a practical and
versatile timeless sportswear concept: a mix between
high quality and technique.
• Starting from the jacket, a total look wardrobe was
developed since foundation the company collection
includes men, women and child.
• Besides the usual Spring/Summer and Autumn/Winter
collections, the company also produces capsule
collections driven by design content.
• Sales channel are wholesale and retail.
• Recently the shareholders of the group controlling the
company have reshuffled the group’s governance and
nowadays the company is a new legal entity with a single
brand and a single business model.
M&A
OPPORTUNITIES
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Major interest are for Asian potential investors and for the
support to international expansion.
• The owner is available to a minority investment 2010 2011 2012
TURNOVER 99.4 108.0 83.4
EBITDA 20.4 22.8 11.5
Euro Mln
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COMPANY 46 - FASHION INDUSTRY M&A
OPPORTUNITIES
COMPANY OVERVIEW
• Founded in the seventies the company is specialized in
the frozen fish food sector, and operated in all phases
of the value chain, starting from the fishing to retail
distribution.
• 90% of the revenues comes from the core business- fish
food, the remaining part from meat and vegetables frozen
food.
• The storage capacity of the company is based in 13
logistics hubs (9 of which are owned by the company),
allowing the company to cover the the entire country.
The company sales channel is composed by:
• Direct operated stores (that represent the 35-40 % of total
revenues)
• Wholesalers (60-65%)
• Outlet channel (5%)
• The expected growth rate for the next years is estimated
around 5-10%
• The owners want to sell the existing share, around 40%.
• Amount of the investment: less than 100 mln. Euro.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
2010 2011 2012
TURNOVER 83 98 105
EBITDA 7.3 9.5 11.5
Euro Mln
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COMPANY 1 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Group was founded in 1958 in a small workshop in San Mauro Pascoli, where the founding family created the first collection of sandals designed for tourists holidaying on the Italian Riviera
• Its shoes are designed as must-have objects of desire, never as solely designer label accessories, but as true masterpieces of design.
• In the recent year, the business boasts a growth rate of + 20% per year, with 16 flagship stores, a new showroom in New York, the opening of corners and shop-in shops in Russia as well as expansion towards China and the Middle East.
FINANCIAL HIGHLIGHTS NOTE
• The company is open to selling a stake to outside
investors.
Shoes collection
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 25,9 33,6 35,7 36,1
EBITDA 1,7 2,7 4,7 3,6
EBITDA margin 6,4% 8,1% 13,1% 10,0%
Net Profit 0,4 0,9 2,5 1,5
Fixed Assets 9,3 9,8 10,3 10,6
NFP 5,2 4,8 3,8 4,8
Shareholder's funds 6,5 7,4 9,6 10,5
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COMPANY 2 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• Established in 1952 by an Italian entrepreneur the
company is now held by his children and the third
generation of its family.
• The company is a leader in the luggage and travel bags
industry, with products recognized for their image and
functionality, with a positive quality/price ratio. Is known
also for its wallets and accessories.
• The company sells its products also in the emerging
markets; the Management plans to open ten more stores
in Asia and in Usa.
FINANCIAL HIGHLIGHTS NOTE
• The company is receptive to offers for minority stake
sale, strategic investors preferred, says executive.
Travel & accessories
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 34,9 37,6 37,4 33,6
EBITDA 1,4 2,3 0,9 0,9
EBITDA margin 4,1% 6,2% 2,3% 2,8%
Net Profit (0,2) 0,2 (0,8) (0,0)
Fixed Assets 9,9 9,6 9,4 9,6
NFP 15,3 16,1 16,4 13,4
Shareholder's funds 5,9 6,2 5,5 5,9
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COMPANY 3 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Group was founded in the first half of the 1950s by an Italian entrepreneur who decided to open a small dressmaker’s shop for children in Marche region.
• Today, the Group is a leading company in the children fine clothing market. Their focused orientation towards new ideas and technology is the true driving force of their development.
• In 2010 the Group started its partnership with an international fashion company for the design, the production and distribution of its kids and baby collection.
• In the coming months, the company plans to open ten branded concessions and shop-in-shops. The Group aims to expand in the Asia market.
FINANCIAL HIGHLIGHTS NOTE
• The company is looking for a suitable bidder interested in
investing in the company - General Manager said.
Collections
M&A
OPPORTUNITIES
28
Key financial data (€/m) 2011 2012 2013 2014
Revenues 39,9 42,6 42,4 45,6
EBITDA 2,1 2,0 2,3 2,9
EBITDA margin 5,3% 4,7% 5,3% 6,3%
Net Profit 5,1 4,8 6,9 7,4
Fixed Assets 5,1 5,5 7,3 8,1
NFP 19,6 18,9 15,8 15,9
Shareholder's funds 5,1 4,8 6,9 7,4
29
COMPANY 4 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company is one of the main Italian players in women
apparel and accessories.
• The Company produces and distributes its products under
its brand, mainly through its proprietary (franchising) retail
distribution network.
• In September 2013, the company has a network of 158
shops in Italy (out of which 63 DOS) 199 shops in Europe
(out of which 103 DOS) and 48 shops in the rest of the
world (out of which 2 DOS).
• In October 2010 it has sold its 50% interest in a fashion
group.
FINANCIAL HIGHLIGHTS NOTE
• According to our intelligence, the company has
restructuring plans and the option to go to market.
Apparel
M&A
OPPORTUNITIES
Knitwear & Cachemere
Leather Goods Accessories
Key financial data (€/m) 2011 2012 2013 2014
Revenues 193,6 186,6 168,5 155,9
EBITDA (21,4) (3,2) (8,7) 0,4
EBITDA margin n.m. n.m. n.m. 0,2%
Net Profit 14,6 (20,1) (23,8) (7,7)
Fixed Assets 90,7 76,7 63,9 55,0
NFP 37,5 68,0 76,5 74,0
Shareholder's funds 65,9 44,9 19,0 10,8
30
COMPANY 5 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• Founded in 1977, the company is an Italian fashion
group, owned by the two founding families,
• The company owns several brands. China, South Est
Asia and the US are the main areas of interest to start
a series of partnership deals, in order to better penetrate
international markets.
• Today, its brands are sold in about 800 retail locations.
The most famous brand is present in 324 select multi
brand stores and 45 mono brand boutiques/ shop- in-
shops worldwide.
FINANCIAL HIGHLIGHTS NOTE
• The management would be interested in offers for a
minority stake - the founder said.
Collections
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 54,1 63,2 61,1 66,5
EBITDA 5,7 12,7 11,7 14,3
EBITDA margin 10,5% 20,0% 19,1% 21,5%
Net Profit 1,7 5,5 6,6 4,0
Fixed Assets 30,1 29,4 29,0 45,5
NFP (0,7) (7,6) (13,3) (2,6)
Shareholder's funds 58,9 62,8 69,5 73,1
31
COMPANY 6 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Group founded in 1996, is an Italian women’s apparel
manufacturer.
• The Group is headquartered in a small city close to
Naples. The Group is specialized in producing girl’s
clothing. The company has 21 stores across Italy. It is
currently focused in strengthening its retail network within
Europe and the Middle East, particularly in the UAE.
• The Group is going to open its second flagship store in
Milan by the end of the year.
FINANCIAL HIGHLIGHTS NOTE
• The Group has already received two bids from parties
interested in investing in the company. The management
is keen on receiving offers for a 60% stake sale.
Collections
M&A
OPPORTUNITIES
Key financial data (€/m) 2011 2012 2013 2014
Revenues 32,9 39,1 47,6 49,4
EBITDA 2,4 2,9 5,2 7,9
EBITDA margin 7,4% 7,5% 10,8% 16,0%
Net Profit 1,1 1,5 3,0 4,7
Fixed Assets 2,3 2,1 1,9 1,5
NFP (2,7) (3,1) (2,2) (4,4)
Shareholder's funds 6,4 7,9 10,6 13,7
32
COMPANY 7 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company was founded in 1921 but expanded into the
sportswear business after 1970.
• Its brand gained an image of elegant apparel for sailing,
golfing and outdoor situations.
• Nowadays, it offers a total-look, luxury range of: apparel;
accessories, travelling goods and technical products for
sailing, golf and skiing.
• Current products include men, women, cadet and
accessories collections which are sold in more than 200
international single-brand stores in every continent.
FINANCIAL HIGHLIGHTS NOTE
• no recent news.
Menswear
M&A
OPPORTUNITIES
Womenswear Accessories
Key financial data (€/m) 2009 2010 2011 2012
Revenues 145.9 152.1 170.7 n.a.
EBITDA 44.2 45.9 46.1 n.a.
EBITDA margin 30.3% 30.2% 27.0% n.a.
Net Profit 28.9 30.5 30.2 n.a.
Fixed Assets 28.9 36.9 41.9 n.a.
NFP (106.8) (110.6) (42.4) n.a.
Shareholder's funds 195.0 212.2 206.2 n.a.
33
COMPANY 8 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company founded in 1971 in Bologna, is a leading
producer of active sportswear.
• The Company operates in three business area:
teamwear, merchandising and leisurewear for football,
basket, rugby, volley, running, handball and baseball.
• It operates through three subsidiaries: two commercial
stores in Bologna and Monza and a company in China
and distributes its products through mono - brand stores
located in Central Europe, Turkey and Canada.
• In 2011, a PE fund has acquired a majority stake (50,1%)
in the company for € 23m.
FINANCIAL HIGHLIGHTS NOTE
• The Company is interested in acquisitions in Germany
and Eastern Europe in order to shorten the time to market
in those countries where it is not yet present.
• The Company may look to an investor to enter in these
markets.
M&A
OPPORTUNITIES
Teamwear Merchandising Leisurewear
Key financial data (€/m) 2011 2012 2013 2014
Revenues 52,3 60,0 62,2 64,2
EBITDA 3,5 4,1 5,7 6,8
EBITDA margin 6,7% 6,8% 9,2% 10,6%
Net Profit 1,1 1,7 2,0 2,6
Fixed Assets 1,9 2,1 2,8 4,4
NFP 18,5 19,3 14,9 19,4
Shareholder's funds 15,6 17,3 19,3 21,9
34
COMPANY 9 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company is an Italian producer and distributor of
clothes addressed to fashion teenagers.
• The Company offers a complete collections of fresh style
casual but sophisticated clothes, accessories, jeans and
bags through its own brand.
• The brand is distributed in Italy and Europe (Spain,
Netherland, Belgium Germany and Croatia) through direct
mono-brand shops and several corners.
• In 2010, the company sold a 30% stake to a PE fund.
FINANCIAL HIGHLIGHTS NOTE
• no recent news.
M&A
OPPORTUNITIES
Collections
Key financial data (€/m) 2011 2012 2013 2014
Revenues 27,7 33,9 40,2 44,9
EBITDA 3,4 6,1 6,1 4,8
EBITDA margin 12,2% 18,0% 15,1% 10,7%
Net Profit 1,5 3,3 3,2 2,0
Fixed Assets 3,2 4,7 5,9 7,2
NFP (2,2) (3,1) (2,6) (0,7)
Shareholder's funds 5,0 8,1 8,5 8,9
35
COMPANY 10 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company is an Italian producer and distributor of
fashion clothes. The company was founded in the 40’s as
a tailored clothes shop.
• The Company offers a complete collection of elegant
men’s and women’s knitwear including: suits, shirts and
pants, dresses and accessories.
• The brand is distributed worldwide in Europe, USA and
Japan; wholesale is the favorite retailing channel, as well
as for well-known multi-brand stores (like Barneys and
Berdgorf in NYC).
• In 2013, the Company was fully acquired by a PE Fund.
FINANCIAL HIGHLIGHTS NOTE
• no recent news.
M&A
OPPORTUNITIES
Key financial data (€/m) 2011 2012 2013 2014
Revenues - - 23,2 24,0
EBITDA - - (2,8) 1,0
EBITDA margin - - n.m. 4,1%
Net Profit - - (3,1) (0,5)
Fixed Assets - - (3,1) (0,5)
NFP - - 21,3 14,0
Shareholder's funds - - 9,1 21,3
Menswear Womenswear Accessories
36
COMPANY 11 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company is an Italian fashion group established in
1982 in Bologna
• The creator of the Company was aimed at building a
sportswear brand designed to become a symbol of
extreme research on fibres and textiles, applied to an
innovative design.
• Under the Brand the Company manufactures and
distributes menswear and womenswear apparel,
accessories and kidswear.
FINANCIAL HIGHLIGHTS NOTE
• The Company sale process called off (January 2014)
• According to our intelligence, the Company is looking for
an investor.
M&A
OPPORTUNITIES
Collections
Key financial data (€/m) 2011 2012 2013 2014F
Revenues 53,7 62,0 69,8 79,5
EBITDA 3,9 5,8 9,6 11,8
EBITDA margin 7,3% 9,4% 13,8% 14,8%
Net Profit 1,5 1,9 5,3 n.a.
Fixed Assets 11,7 10,6 18,0 n.a.
NFP 7,6 7,9 13,4 n.a.
Shareholder's funds 29,9 31,0 33,9 n.a.
37
COMPANY 12 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company is family-held apparel company, 100% owned by the founder family who deals with product development,
• The Company designs and manufactures its own smart-casual clothes and owns four brands.
• Today the Company is one of the principle retailer and manufacturer of apparel through more than 80 shops in Italy and the intent to open flagship stores in new international cities as well as developing franchise shops in China, South Korea, Russia and Turkey.
• The Company has already flagship store in London, and Japan is one of the traditional main export markets for the company’s products.
FINANCIAL HIGHLIGHTS NOTE
• According to the rumors, the company is looking for a
financial partner in order to enter in new high potential
market such as the middle east.
M&A
OPPORTUNITIES
Collections
Key financial data (€/m) 2010 2011 2012 2013
Revenues 63,9 73,1 65,3 49,0
EBITDA 8,2 7,9 6,0 6,5
EBITDA margin n.a. 10,8% 9,2% 13,3%
Net Profit 2,8 2,3 1,4 1,4
Fixed Assets 15,6 16,0 15,7 14,6
NFP 7,5 9,3 4,9 (1,6)
Shareholder's funds 17,3 19,8 21,0 21,8
38
COMPANY 13 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company was established in 1939 in the province of Milan.
• The Company distributes its products under its well known brand and thanks to its know - how in shirt manufacturing it produces for several important brands and designer worldwide.
• Today the company produces womenswear, menswear and accessories that are distributed all over the world thanks to its flagship stores and the wholesale distribution channel.
FINANCIAL HIGHLIGHTS NOTE
• no recent news.
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 30,5 34,7 35,4 31,2
EBITDA 0,3 0,7 1,7 1,6
EBITDA margin n.a. n.a. 4,7% 5,0%
Net Profit (0,5) (0,2) 0,1 (0,1)
Fixed Assets 19,2 19,6 19,8 19,5
NFP 12,2 n.a. 5,5 7,3
Shareholder's funds 15,9 15,7 15,8 15,7
Menswear Womenswear Accessories
39
COMPANY 14 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The company was founded in 1953 near Milan. • Originally a purely knitwear business, the Company quickly
gained exposure with a first collection launched in 1958 in Milan and its brand acquired acknowledgement thanks to its innovative colorful patterns and tones.
• The Company currently produces designer apparel, accessories and shoe wear; it also sells branded eyewear and fragrances.
• Other product lines include the more casual and more accessible line. The Company also diversifies its client base by providing fabrics for interior design products.
• As of today, its international footprint is widespread, generating more than 70% of its export revenues. With single-brand boutiques in every continent and in more than 1100 high-end stores.
FINANCIAL HIGHLIGHTS NOTE
• The company could be up for sale (January 2015)
M&A
OPPORTUNITIES
Collections
Key financial data (€/m) 2011 2012 2013 2014
Revenues 69,8 70,4 64,3 64,9
EBITDA 15,9 13,8 9,9 7,3
EBITDA margin 22,8% 19,6% 15,4% 11,3%
Net Profit 5,1 0,5 1,6 0,7
Fixed Assets 16,1 16,7 17,9 17,3
NFP (1,6) 1,2 10,7 7,7
Shareholder's funds 19,0 19,5 19,5 18,6
40
COMPANY 15 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The company was founded in 1954 near Florence as a
leather bag manufacturer.
• In the following decades the Company deepened its
mastery and competitive advantage in leather products,
also thanks to partnerships with international and
renowned brands.
• Since 2000 its equity story presents a few restructuring
events which contributed to the Company’s change and
development.
• After this restructuring events, the Company operates
with several brands.
FINANCIAL HIGHLIGHTS NOTE
• The company moves toward selling to Chinese or
Singapore investor; IPO aborted (July 2014)
M&A
OPPORTUNITIES
Key financial data (€/m) 2011 2012 2013 2014
Revenues 81,4 77,0 68,3 57,6
EBITDA 4,4 2,7 4,0 (0,4)
EBITDA margin 5,4% 3,6% 5,9% n.m.
Net Profit 0,4 (0,6) (0,5) (3,6)
Fixed Assets 12,9 12,6 9,8 19,2
NFP 19,3 14,5 12,5 24,5
Shareholder's funds 17,0 16,4 15,9 13,6
Collections
41
COMPANY 16 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The company was founded in 1923 in Monza, began producing felt hats, later moving on to gaiters and workwear.
• The products range includes sky collection, as jackets, pants, topwear and accessories for men, women and kids and also a golf collection, that includes polo, gilet, jackets and pants.
• The company is going to introduce also beachwear collection.
• The company sells its products through 7 boutiques in Italian alps and two shops in Seoul, and also through sportswear and casualwear shops.
• The company is fully owned by the founder Family.
FINANCIAL HIGHLIGHTS NOTE
• The company could consider acquisitions of fashion
jacket producers (January 2015).
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 48,0 52,8 64,2 82,4
EBITDA 3,0 2,9 7,9 12,3
EBITDA margin 6,4% 5,5% 12,3% 14,9%
Net Profit 0,7 0,7 2,6 6,3
Fixed Assets 21,7 19,8 18,7 18,8
NFP (9,7) (13,1) (14,4) (8,2)
Shareholder's funds 77,1 77,4 79,5 85,0
Collections
42
COMPANY 17 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Group is a leading player in the international
wintersport and outdoor market.
• The Group was established in 2003 through the
acquisition of several brands; the other strategic
acquisitions were made aiming at building a leading group
for sports equipment and apparel.
• The Groups brands include winter and outdoor sports
goods: ski-boots, winter footwear and equipment, ski, ski-
boots and accessories, winter footwear and accessories,
shoes and equipment for alpinism, backpacking, outdoor
fitness, trekking, hunting ice skates ski and outdoor
shoes, winter equipment roller skate and accessories.
FINANCIAL HIGHLIGHTS NOTE
• The Company recently sold one of its brands.
M&A
OPPORTUNITIES
Collections
Key financial data (€/m) 2010 2011 2012 2013
Revenues 394,7 404,4 335,2 325,7
EBITDA 36,2 35,1 16,3 17,4
EBITDA margin 9,2% 8,7% 4,9% 5,3%
Net Profit 2,8 0,9 (15,9) (21,2)
Fixed Assets 100,0 95,0 87,5 79,9
NFP 177,5 194,8 184,2 171,8
Shareholder's funds 69,6 69,3 49,1 25,2
43
COMPANY 18 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• Established in 1978, the Company is a private held Italian
menswear producer headquartered in a small city in the
middle of Italy.
• The Company produces 1500 items of clothing every day
thanks to 900 employees both internal and external. The
result is that the brand is now recognized as a brand of
“Made in Italy” excellence.
• In its collections, the experience of the Italian sartorial
tradition is combined with the innovation, research and
experimentation
• On April 2014, its new enlarged showroom was opened in
Milano, in the heart of the fashion quarter.
FINANCIAL HIGHLIGHTS NOTE
• Starting from 2016, the management could take into
consideration potential bidders, but it needs to see a real
long term interest in sharing the company’s development
plan, said the CEO ( January 2015)
M&A
OPPORTUNITIES
Collections
Key financial data (€/m) 2011 2012 2013 2014
Revenues 53,3 53,0 54,2 71,1
EBITDA 3,2 3,5 5,4 9,2
EBITDA margin 6,0% 6,6% 10,0% 13,0%
Net Profit 1,0 1,1 2,4 5,2
Fixed Assets 8,5 11,5 10,7 12,5
NFP 18,0 14,2 13,1 14,5
Shareholder's funds 5,3 8,1 10,2 14,1
44
COMPANY 19 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The Company is headquartered in Naples and has 130 employees, The brand is an international menswear brand, and it produces several collections including footwear, bags and leather accessories’ collections.
• Born in 2007 form the vision and talent of its founder, the Company stands immediately out for the ability to develop its own design language, conceived for a new generation of consumers.
• Nowadays the brand is distributed in 3200 multi- brand stores over 70 countries around the world and is sold in 70 mono-brand stores located in strategic areas of Europe, Asia and South America. Exports last year accounted for 65% of sales.
• The Company intends to open around 10-15 flagship stores this year (2015) in Germany, Belgium and Spain, the executive said.
FINANCIAL HIGHLIGHTS NOTE
• The company would take offers for up to a 49% stake, the
founder said, adding that he would prefer to maintain
some operational control over the business (January
2015)
M&A
OPPORTUNITIES
Collections
Key financial data (€/m) 2011 2012 2013 2014
Revenues - - 74,8 76,1
EBITDA - - 9,1 7,0
EBITDA margin - - 12,2% 9,1%
Net Profit - - 3,7 3,0
Fixed Assets - - 7,9 11,1
NFP - - (5,3) (0,7)
Shareholder's funds - - 14,5 16,5
45
COMPANY 20 - FASHION INDUSTRY
COMPANY OVERVIEW PRODUCT RANGE
• The company is headquartered in Campi Bisenzio (FI), is a well-know player in the swimsuit industry.
• The brand was born in San Francisco producing a small line of nylon or cotton-nylon shorts especially designed for surfing
• In 1979 the Company holds the permanent license to produce in Europe and sale worldwide products branded in order to make its main product, the “boardshort”, successful also in Italy.
• The brand is basically addressed to young people that want to be ensured about wearing a quality product as well as a recognized brand. Thanks to several sponsorships and to communication strategies the company is leader in the Italian market. Moreover the brand is already globally spread, with its showroom in NYC, and the presence in multi-brand luxury stores in France, Spain, Greece and Italy.
• The company is fully owned by a Italian PE Fund
FINANCIAL HIGHLIGHTS NOTE
• No recent news
M&A
OPPORTUNITIES
Collections
Key financial data (€/m) 2011 2012 2013 2014
Revenues 23,8 22,3 20,2 20,5
EBITDA 4,9 3,4 3,6 3,8
EBITDA margin 20,4% 15,2% 17,6% 18,6%
Net Profit 0,1 (1,5) (2,9) (1,3)
Fixed Assets 28,8 27,9 27,5 25,3
NFP 22,4 22,2 19,0 18,3
Shareholder's funds 14,7 13,2 10,3 14,3
46
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 Profile
Production plants based in central Italy
WHY INVEST
TRANSACTION PROPOSED
• 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
• The Company is looking for an Industrial investor
• 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)
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 125 ~ 120 ~ 60
EBITDA (€ ‘000) ~ 2.6 ~ 1 ~ -77
Employees 600
Net Financial Position ~ 0.1 ~ 17 ~ 11
Euro Mln, Number
47
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 thermic and
acoustic isolation, design, solar control
• The Company is among the largest producers of flat glass
in Italy.
WHY INVEST
TRANSACTION PROPOSED
• 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.
• The Company is looking for an Industrial investor
• Company/asset acquisition
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 88 ~ 80 ~ 74
EBITDA ~ 16 ~ 2.2 ~ -3.5
Employees 195
Net Financial Position ~ 28 ~ 36 ~ 38
Euro Mln, Number
48
COMPANY 44 - FOOD AND BEVERAGE M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company is specialized in shoes production for
women. The same was founded in 1910 and operated
as a family company till 2001, when the majority of the
share capital was acquired. Over the years the company
has extended the product range from shoes
production, in particular for women, to handbags,
perfumes and eyewear. The price-quality positioning of
the product is in the mid-high range of luxury sectors. The
design, prototyping, quality control phases are operated in
house, instead the production is executed by Italian
suppliers.
The distribution channel is based on Horeca, GDO
sectors, shops channel, (150 directly operated) shop-in-
shop (106 directly operated) and wholesalers. The
suppliers are:
• 35%, joint-venture partners, from different countries:
Argentine, Chile, Morocco, Senegal, Thailand;
• 65% external companies.
• The 80% of the fish food supplied is prepared and freezed
by the suppliers, in the company plant, recently renewed.
• Major interest in selling the existing shares – 100%.
• Amount of the investment: around 100/150 mln. euro
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
2011 2012 2013
TURNOVER 220.0 203.8 179.9
EBITDA 10.3 8.6 10.5
Euro Mln
49
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.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
2012 2013 2014
TURNOVER 2,4 3,8 6,7
EBIT 0,4 0,7 1,4
Euro Mln
50
COMPANY 46 - FOOD AND BEVERAGE M&A
OPPORTUNITIES
COMPANY OVERVIEW
• Founded in the seventies the company is specialized in
the frozen fish food sector, and operated in all phases
of the value chain, starting from the fishing to retail
distribution.
• 90% of the revenues comes from the core business- fish
food, the remaining part from meat and vegetables frozen
food.
• The storage capacity of the company is based in 13
logistics hubs (9 of which are owned by the company),
allowing the company to cover the the entire country.
The company sales channel is composed by:
• Direct operated stores (that represent the 35-40 % of total
revenues)
• Wholesalers (60-65%)
• Outlet channel (5%)
• The expected growth rate for the next years is estimated
around 5-10%
• The owners want to sell the existing share, around 40%.
• Amount of the investment: less than 100 mln. Euro.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
2010 2011 2012
TURNOVER 83 98 105
EBITDA 7.3 9.5 11.5
Euro Mln
51
COMPANY 1 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company, established in 1914 in northern Italy, it is one of the most prestigious companies in the diary and cheese industry, an all-round force from both a production as well as sales and marketing viewpoint.
• The Company produces taleggio, gorgonzola, quartirolo lombardo e crescenza as well as some of our “unique” cheeses. Part of the production is made with milk from organic agriculture.
• The brand is present in the overseas market, thanks to prestigious alliances with some of the largest importers in several countries around the world, becoming a fundamental partner also to leading names in large scale-retail.
FINANCIAL HIGHLIGHTS NOTE
• Recently the Chairman said that the company was
interested in approaches from external investors in order
to fuel its expansion plans.
Cheese products
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 21,4 28,0 26,8 29,2
EBITDA (0,3) 1,7 1,2 (0,0)
EBITDA margin n.m. 5,9% 4,4% n.m.
Net Profit (2,9) 0,8 (1,2) (2,3)
Fixed Assets 43,8 38,3 34,9 33,8
NFP 26,7 21,5 27,8 27,2
Shareholder's funds 9,4 12,1 10,9 9,2
52
COMPANY 2 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company established in 1936 in northern Italy, it is one of the main player in the Italian bakery industry .
• The Company produces bread products and substitutes (breadsticks and rusks) and also tea biscuits and wholegrain biscuits. The production also includes wellbeing products (“Fibra Activa”).
• The Company sells its products under its well known brand in Europe and North America.
• In 2008, a PE fund acquired 90% stake in the Company for about €30m - €35m while the management team re-invested in the Company with a 10% stake.
• In 2012, another PE fund has acquired a majority stake in the company from the previous PE fund.
FINANCIAL HIGHLIGHTS NOTE
• The Company has recently acquired an Italian brand.
Wellbeing Line
M&A
OPPORTUNITIES
Breakfast Line
I am line Snack Line
Key financial data (€/m) 2010 2011 2012 2013
Revenues 24,8 25,7 26,6 28,0
EBITDA 6,4 6,1 6,1 6,5
EBITDA margin 25,8% 23,8% 22,9% 23,3%
Net Profit 0,0 0,3 0,8 0,9
Fixed Assets 34,0 32,3 30,1 28,3
NFP 17,3 15,4 13,2 (0,0)
Shareholder's funds 13,5 13,8 14,6 15,6
53
COMPANY 3 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company is a privately owned Italian producer of
vinegar, was founded in 1867 in northern Italy.
• The Company is a world leader in the production of
vinegar, pickles, vegetable preserves in oil, condiments
and ready-made sauces.
• The Company produces the balsamic vinegar of Modena
and is the result of a delighted blend between selected
grape musts and precious wine vinegar, followed by a
certified maturation period in different wooden core casks
• In 2008, the company acquired an organic producer
established in 1980 and located at the foot of the Alps
near Torino.
FINANCIAL HIGHLIGHTS NOTE
• The Company is receptive to approaches from interested
investors - Chairman said.
M&A
OPPORTUNITIES
• Balsamic vinegar of Modena
• Olives & Pickles
Key financial data (€/m) 2010 2011 2012 2013
Revenues 111,2 113,9 113,7 115,8
EBITDA 13,5 14,1 12,0 14,1
EBITDA margin 12,1% 12,4% 10,6% 12,1%
Net Profit 5,6 5,8 4,1 5,8
Fixed Assets 44,3 44,3 44,2 44,7
NFP 24,6 26,9 28,8 10,2
Shareholder's funds 53,2 54,5 58,6 58,5
54
COMPANY 4 - FOOD AND BEVERAGE
COMPANY OVERVIEW Product range
• The Company founded in 1960s, was originally focused
on the processing of tomatoes.
• The Company today offers frozen vegetables, grilled
vegetables, herbs, natural vegetables, potatoes, ready
side dish, steam precooked vegetables and semi- finished
products.
• The Company also offers frozen food service products
such as pizza as well as pasta and ready meals.
• In 2011, the company attempted a sale process. At that
time, the management has mandated an advisor to
handle the sale process, a source said.
FINANCIAL HIGHLIGHTS Note
• The Company has recently attracted the interest from
private equity firms.
M&A
OPPORTUNITIES
Key financial data (€/m) 2009 2010 2011 2012
Revenues 136,3 139,5 142,6 147,6
EBITDA 18,0 15,2 12,9 11,5
EBITDA margin 13,2% 10,9% 9,1% 7,8%
Net Profit 5,9 4,0 2,2 2,6
Fixed Assets 51,0 51,4 51,8 52,6
NFP (13,0) (11,6) (33,5) (16,8)
Shareholder's funds 97,0 100,9 100,9 103,5
Pasta & ready meal frozen
Vegetable frozen
55
COMPANY 5 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company established in 1925 in southern Italy, and
is wholly held by the founding family and is now managed
by the fourth generation.
• The Company, is an Italian based producer of tomatoes
sauce. From the field to the point of sale, the tomato is
grown, processed and packed, continuously trying to
diversify the range of products, in order to meet the needs
of any consumer.
• Exports accounted for 65% of sales pointing to the UK,
Germany, France; Libya, Nigeria, Ghana, Senegal; South
Africa and Kenya as its key markets.
FINANCIAL HIGHLIGHTS NOTE
• The Group wants to take an investor on board ahead of a
potential IPO.
M&A
OPPORTUNITIES
• Mashed tomatoes
• Chopped tomatoes
• Peeled tomatoes
• The delicacies
Key financial data (€/m) 2011 2012 2013 2014
Revenues 164,7 178,5 177,9 159,9
EBITDA 4,6 6,5 6,7 6,6
EBITDA margin 2,8% 3,6% 3,7% 4,1%
Net Profit (0,3) 0,5 0,3 0,1
Fixed Assets 28,6 29,7 32,2 31,1
NFP 47,5 49,9 48,4 36,6
Shareholder's funds 23,5 23,9 24,2 24,3
56
COMPANY 6 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company is an Italian company specialized in the production of frozen pizza
• In 2008 the founding family took over the company after the bankruptcy of the previous owner who had acquired years before the pizza division from a Group owned by another Italian food company.
• The Company sells its products to the private label market in Italy as well as in other European markets including UK, Germany, Denmark, Spain, Portugal and Hungary.
• In 2008 an Italian PE firm acquired a minority stake in the Company (33%); the majority stake (53%) is currently owned by the holding company 100% owned by the founding family.
FINANCIAL HIGHLIGHTS NOTE
• Unsourced report says the Company could be interested
in expanding its share of the pizza segment in Germany,
showing interest in a private German frozen pizza
company up to sale.
Pizzeria
M&A
OPPORTUNITIES
Snacks
Key financial data (€/m) 2011 2012 2013 2014
Revenues 47,6 49,4 56,1 78,4
EBITDA 0,3 3,3 2,9 4,5
EBITDA margin 0,6% 6,7% 5,2% 5,7%
Net Profit (1,3) 0,5 0,1 0,9
Fixed Assets 11,2 8,4 8,8 9,9
NFP 10,9 8,9 11,1 11,0
Shareholder's funds 3,7 4,2 4,3 5,3
57
COMPANY 7 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company is an Italian company specialized in the
production of frozen and fresh potatoes.
• The Company could look beyond its national borders and
offer the quality of its Italian-made products to the world.
Gnocchi were introduced for the first time to Asia,
especially Japan.
• The Group recently invested EUR 40m through a mix of
its own resources and bank debt to start the construction
of a new plant in the province of Bologna.
• The company has struck a deal with McDonald’s to
supply its 500 Italian restaurants with 2.000 tons of
products a year, equivalent to 10% of its output.
FINANCIAL HIGHLIGHTS NOTE
• The company welcomes strategic partnership or PE
investments to accelerate the company’s expansion in
overseas market, CEO said.
Potatoes product
M&A
OPPORTUNITIES
Key financial data (€/m) 2011 2012 2013 2014
Revenues 70,8 68,7 76,5 72,6
EBITDA 6,5 4,0 4,7 4,2
EBITDA margin 9,2% 5,8% 6,2% 5,8%
Net Profit 1,3 (0,1) 0,3 (0,0)
Fixed Assets 26,1 24,4 23,1 24,2
NFP 20,2 17,9 12,7 12,1
Shareholder's funds 18,4 18,2 18,5 18,7
58
COMPANY 8 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company is and Italian producer of bakery products
with a particular focus on the production of bakery
products typical of the Italian Veneto region.
• The Company is specialized in the production of a wide
variety of bread; in 2009 the company also acquired a
majority stake in an Italian player active in the market of
dry bread substitutes.
• In 2000 the company was partially acquired by an
international group but in 2006 it went back to the family
through an FBO operation backed by a Private equity
house active in Italy, which currently own a 25% stake.
FINANCIAL HIGHLIGHTS NOTE
• In 2012 a private equity fund has acquired a 55% stake in
the Company.
Bakery products
M&A
OPPORTUNITIES
Key financial data (€/m) 2008 2009 2010 2011
Revenues n.a. 49,0 49,7 53,8
EBITDA n.a. 9,6 9,9 8,5
EBITDA margin n.a. 19,6% 19,8% 15,8%
Net Profit n.a. 1,7 2,7 1,1
Fixed Assets n.a. 57,7 56,2 53,2
NFP n.a. 28,8 25,3 22,9
Shareholder's funds n.a. 25,0 27,6 28,7
59
COMPANY 9 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company was established in 1987 in northern Italy
as a fresh and filled pasta company.
• The Company produces and distributes under its own
brand its fresh pasta products made in its plant.
• The Company sells its products under several distribution
channels: its own label, private label, GDO and discount
shops.
• The founding family still has a stake in the company equal
to 20%, the remaining shareholders structure is
composed by a PE fund
FINANCIAL HIGHLIGHTS NOTE
• No recent news.
Smooth pasta
M&A
OPPORTUNITIES
Filled pasta
Key financial data (€/m) 2010 2011 2012 2013
Revenues 16,0 19,5 23,4 26,0
EBITDA 0,4 0,8 1,0 (0,1)
EBITDA margin 2,4% 4,4% 4,3% n.m.
Net Profit 0,1 0,0 0,0 (1,4)
Fixed Assets 4,0 5,0 6,4 8,7
NFP 3,8 6,3 8,9 6,6
Shareholder's funds 8,2 9,0 11,9 15,9
60
COMPANY 10 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company established in 1990; it is Italy's premier
health food company providing an innovative product
ranges including: drinks, desserts, ice creams, soya
yoghurts, biscuits, veggie burgers and cutlets.
• The Company offers its products through four main
brands.
• The company is based in center of Italy, and distributes its
products across Europe including Austria, Germany,
Greece, Slovenia, Spain and Switzerland.
• In November 2011, the Company acquired an Italian jam
producer that today accounts for 32% of total revenues
FINANCIAL HIGHLIGHTS NOTE
• Recently, the Chairman said the company was interested
in buying niche companies in their respective markets.
M&A
OPPORTUNITIES
• Plant based drinks and yogurt
• Soya Ice cream and dessert
• Vegan and vegetarian meals
• Biscuits and snacks
Key financial data (€/m) 2011 2012 2013 2014
Revenues 57,0 93,3 100,4 114,0
EBITDA 5,9 9,8 12,8 18,0
EBITDA margin 10,3% 10,5% 12,7% 15,8%
Net Profit 2,6 4,5 6,9 10,3
Fixed Assets 34,3 36,2 34,2 34,3
NFP 18,8 11,4 n.a n.a
Shareholder's funds 24,2 27,0 35,6 44,3
Note: FY 2013, FY 2014 Consolidated Data; FY2011, FY2012 Unconsolidated Data
61
COMPANY 11 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company, founded in 1980, is based in northern
Italy.
• The Company is specialized in the production of
mozzarella cheese by lactic fermentation, and now it is a
fast-growing market leader and trusted partner for Private
Labels in large scale retail trade and dairy factories, both
in Italy and abroad.
• At the end of 2011, the company has been acquired by a
private equity firm.
FINANCIAL HIGHLIGHTS NOTE
• In 2013 a company controlled by it (80%) has acquired a
milk processing subsidiary of a Slovenian private wine
producer
Fresh Cheese
produced using selected lactic ferments
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues n.a. 56,9 n.a. 52,4
EBITDA n.a. 2,2 (0,1) 0,9
EBITDA margin n.a. 3,9% n.a. 1,8%
Net Profit n.a. 0,7 (0,3) (1,8)
Fixed Assets n.a. 4,5 16,8 20,2
NFP n.a. 5,8 4,1 6,4
Shareholder's funds n.a. 3,8 11,7 9,8
62
COMPANY 12 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company was established in 1968 in the Province of Pordenone; it is a leading company in the private label market, specialized in the fresh cheese processing products.
• The products offered by the Company are stracchino, mozzarella, mascarpone and cream cheese.
• Its products are available on the whole national territory and abroad in United Kingdom, Austria, Sweden and Spain.
• Amongst the Company’s clients are some of the major mass-market chains in Italy and Europe, such as: Trentina, Coop Italia, Despar, Conad, PAM, Centrale del Latte di Firenze, Granarolo, Caplac, Latte Busche, Abit etc.
FINANCIAL HIGHLIGHTS NOTE
• On 2012, a listed Swiss dairy group, has increased its
shareholding in these Italian fresh cheese company to
26% from 10%.
Mozzarella and stracchino
M&A
OPPORTUNITIES
Cream cheese and mascarpone
Key financial data (€/m) 2010 2011 2012 2013
Revenues 24,0 33,7 37,8 47,6
EBITDA 0,9 2,0 1,6 1,2
EBITDA margin 3,9% 6,0% 4,3% 2,6%
Net Profit 0,1 1,1 0,1 (0,5)
Fixed Assets 14,7 16,5 17,1 18,0
NFP 8,3 11,6 10,2 12,4
Shareholder's funds 3,1 4,3 4,6 4,6
63
COMPANY 13 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company is part of an Italian Group, one of the
Italian leading winery group, with a production of nearly
13 million bottles.
• The Company distributes wine under several brands/
labels.
• The Company operates through seven companies in the
south of Italy and several commercial outlets spread in 74
countries all over the world.
• In 2012, 45% of the Company’s revenues arises from the
production of DOC wine, while the IGT wine represents
43% of revenues.
FINANCIAL HIGHLIGHTS NOTE
• In 2013, an Italy based private equity fund, has acquired a
majority stake in the company
• Today the PE fund owns and controls the whole group.
Wine
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 26,4 30,0 34,9 38,4
EBITDA 4,5 4,7 3,9 4,4
EBITDA margin 17,0% 15,6% 11,2% 11,5%
Net Profit 2,5 2,7 1,7 0,0
Fixed Assets 5,4 5,0 4,8 6,8
NFP 4,0 5,4 5,6 8,9
Shareholder's funds 9,9 11,9 12,9 13,4
64
COMPANY 14 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company is a leading Italian producer of tomato
sauces and surrogates.
• The Company offers a wide variety of tomato-based
products that distributes worldwide thanks to local
distribution chains in North and South America, Europe,
Africa, Asia and Oceania.
• In 2011 the Company sold a minority stake (about 5%) to
a private equity fund specialized in the agricultural sector.
The majority stake is currently owned by the founding
family.
FINANCIAL HIGHLIGHTS NOTE
• The company may consider selling significant stake to
outside partner (June 2015)
M&A
OPPORTUNITIES
• Tomato puree
• Pizza sauce
• Tomato vinegar
• Ketchup and other products
Key financial data (€/m) 2010 2011 2012 2013
Revenues 38,1 38,9 37,4 34,9
EBITDA 4,4 4,1 4,4 4,1
EBITDA margin 11,5% 10,6% 11,8% 11,7%
Net Profit (1,1) 0,8 (0,6) 0,6
Fixed Assets 21,5 21,5 21,8 18,2
NFP 23,8 23,6 20,7 18,1
Shareholder's funds 6,9 7,1 6,2 6,5
65
COMPANY 15 - FOOD AND BEVERAGE
COMPANY OVERVIEW PRODUCT RANGE
• The Company was founded in the far-off 1800s in
Piemonte region, in the north of Italy, from the founder
that in 1878 opened its first own chocolate shop.
• Over the years, the artisan workshop turned into an
increasingly structured business and today, it produces
over 350 specialty chocolates, exporting them worldwide,
and since 2006, it has also included ice creams in its
range.
• The Company sells its products through several own
shops in main Italian cities, but also in Europe, Asia and
Latin America.
FINANCIAL HIGHLIGHTS NOTE
• no recent news
Chocolate and Candies
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 31,4 36,6 39,2 39,7
EBITDA 7,2 8,8 9,1 9,8
EBITDA margin 23,1% 24,1% 23,1% 24,7%
Net Profit (0,3) 0,9 3,3 3,9
Fixed Assets 17,2 13,4 16,2 17,2
NFP 13,2 10,0 8,7 5,2
Shareholder's funds 12,9 13,8 17,1 20,1
66
COMPANY 6 - FOOD AND BEVERAGE M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company was established in 1988 and is the world's
third largest manufacturer of Modena balsamic Vinegar.
The company is based the center of Italy.
• The company is a market leader in Germany, Benelux
and the Scandinavian region. A company owns 60% while
the remainder is shared by the founding family each
holding a 13.3% stake.
• The company has mandated UBS to consider strategic
options, including the sale of Italian vinegar manufacturer.
• Non-binding offers have yet to be submitted but are
expected between the last week of February and the first
week of March.
• Two Spanish and one Turkish corporate, alongside
several private equity firms are among the interested
parties.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Turnover 2013 €26.4m with EBITDA of EUR 3m
67
COMPANY 7 - FOOD AND BEVERAGE M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company is a
producer of licorice
candies. The company is
headquartered in a small
city of the northern part
of Calabria, southern
Italy.
• The company's management would like to talk with investors that can provide financial
resources and direct expertise in setting up retail chains. An ideal interlocutor would be a
private equity firm interested in sharing an industrial project. Specifically, the company will
consider approaches offering new business development projects adding that her family is
thinking of setting up its own retail or coffee chain. The management is interested in forging
alliances with distributors in the US and Australia, where consumers are very interested in
organic products. The United Arab Emirates were also mentioned as another region of
interest. The company has already distributed its products there, the chairman said,
pointing to the potential for growth on these markets. Ideal counterparts would be importers
specializing in the distribution of high-end Italian food.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Revenues 2014 €5m,
with exports accounting
for 25% of overall sales,
pointing to Denmark,
Norway, Sweden and
Germany as key
markets.
• Recently, the company has started producing typical Neapolitan cookies, taralli, flavored
with licorice, in order to start product diversification ahead of the retail project. In the city,
where the company is based, the company has already opened its first coffee bar,
launching coffee and chocolate flavored with licorice. The management is considering
replicating this format in some Italian cities and also abroad. The company is a historical
Italian company; it was established in 1871 and is wholly owned by the founding family. It
produces four tons of licorice every three to four days. The whole family works for the
company, with the thirteenth generation now running the business.
68
COMPANY 8 - FOOD AND BEVERAGE M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company was established in 2007 as a spinoff of the
former company and produces pasta. The pasta segment
is generally considered the company’s flagship.
• The owning family is willing to sell a company stake to a
financial sponsor with an understanding of its sector
alongside a well-established international trade network.
• The family could consider either a majority or a minority
stake sale, depending on the offer, adding that the
company accounts for 15% of the overall business. Deep
knowledge of the firm’s pasta product and awareness of
its cultural and historical value are paramount
requirements for a potential investor.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Revenues 2014 €8,5Mil.
• The company is totally owned by the founding family
69
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.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• 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)
70
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.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
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
71
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
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• 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
72
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-related
products
• The Company has some well-known Italian brands in its
portfolio
Asset Profile
Production plants are based in southern Italy
WHY INVEST
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• 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
• The Company is looking for an Industrial investor
• Company merger & acquisition
2011 2012 2013
Turnover ~ 80 ~ 45 ~ 13
EBITDA ~ -3 ~ -1 ~ -1
Employees 43
Net Financial Position ~ 28 ~ 28 ~ 22
Euro Mln, Number
73
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
TRANSACTION PROPOSED
• 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.
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 118 ~ 90 ~ 63
EBITDA ~ -2.5 ~ -5 ~ -6
Employees 250
Net Financial Position ~ 36 ~ 18 ~ 19
Euro Mln, Number
74
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
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
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.
• The Company is looking for an Industrial investor
• Company acquisition
• PUBLIC SUPPORT: support from the local government
(Region) is available
75
COMPANY 57 - FURNITURE & CRAFTS M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company, established in 2006 in Northern Italy,
designs, engineers and distributes products for
Home decor.
• 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.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
Euro Mln, Number, 2014
2012 2013 2014
TURNOVER 14,3 13,6 12,9
EBITDA (0,1) (0,5) (0,5)
76
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-service
networks (voice/data/video), enabling voice traffic
management
WHY INVEST
TRANSACTION PROPOSED
• 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
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 322 ~ 258 ~ 257
EBITDA ~ 3.4 ~ 20 ~ -7
Employees 1500
Net Financial Position ~305 ~277 ~185
Euro Mln, Number
77
COMPANY 58 - INDUSTRIAL MACHINERIES 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: 0,5/1 mln euro
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
2013 2014 2015
TURNOVER 5,3 5,1 5,4
EBITDA 0,52 0,53 0,51
EBITDA % 5,3 5,1 5,4
Euro Mln
• The technical progress has allowed the company to be
among the first companies in Europe in design and
construction of a new generation of engines . The
company ability to propose to the market new applications
and implement them successfully constitutes an important
reference for potential new customers.
78
COMPANY 1 - INDUSTRIAL MACHINERIES
COMPANY OVERVIEW PRODUCT RANGE
• The Company was founded in 1971 and is based in
Treviso.
• Counting 380 employees, the Company produces light
and heavy machineries for the processing of tobacco
leaves.
• The operations are divided into 4 main categories: project
management, installation test & training, spare parts and
customer services.
• The Company has 3 production plants in Italy, Brazil and
India.
• The Company has a Turnover of a little over €69 m.
FINANCIAL HIGHLIGHTS NOTE
• As of May 2015 markets rumors reported that the
Company is about to come to the market, as the
management is about to appoint an advisor in the
following months
Key financial data (€/m) 2011 2012 2013 2014
Revenues 85,0 115,0 89,7 69,2
EBITDA 16,3 18,3 16,3 16,3
EBITDA margin 19,2% 15,9% 18,2% 23,6%
Net Profit 10,3 11,9 9,3 6,9
Fixed Assets 36,3 31,2 36,3 36,3
NFP (21,0) (35,3) (31,0) (20,7)
Shareholder's funds 65,1 71,1 73,3 72,3
Toasting
Silos Slicers
Filters
M&A
OPPORTUNITIES
79
COMPANY 2 - INDUSTRIAL MACHINERIES
COMPANY OVERVIEW PRODUCT RANGE
• The Company was founded in 1964 and, currently, it is
shaped as a group of six companies.
• The businesses of the group range from plastic materials
and recycling to packaging machineries, but the Company
itself is focused particularly on water treatment
machineries.
• The Company has several production plants around the
world, some of them in Italy, Germany, Brasil, China and
United States of America.
• The Company has a Turnover of more than €82 m.
FINANCIAL HIGHLIGHTS NOTE
• The Company expressed its intention to accelerate its
abroad operations through a new partner and appointed
an advisor back in February.
M&A
OPPORTUNITIES
Key financial data (€/m) 2010 2011 2012 2013
Revenues 64,9 74,0 72,9 82,2
EBITDA 3,7 6,4 4,4 10,0
EBITDA margin 5,7% 8,7% 6,0% 12,1%
Net Profit 1,4 2,8 1,9 5,4
Fixed Assets 6,7 6,9 23,6 27,6
NFP 21,4 21,4 25,7 20,1
Shareholder's funds 11,3 12,9 21,3 26,7
Water Treatment
80
COMPANY 3 - INDUSTRIAL MACHINERIES
COMPANY OVERVIEW PRODUCT RANGE
• The Company was founded in 1850 in Milan.
• It is present in Italy, Netherlands, Poland, United States of
America and China.
• The range of products goes from packaging machineries
to plastic accessories and flexible packaging.
• The range of the Company’s packaging solutions for food
involves various production segments: coffee, tuna fish,
tomato sauce, catering, hot filled bags up to 10 liters,
aseptic food packages up to 1500 liters, rice, sterilized
and frozen foodstuffs, ready-made meals, bakery
products.
• The Company has a turnover of more than €317 m
FINANCIAL HIGHLIGHTS NOTE
• The Company will appoint the advisor, already selected,
in autumn to start the sell process of a minority stake to
finance its abroad expansion plans.
M&A
OPPORTUNITIES
Packaging Machineries Packaging
Valves
Key financial data (€/m) 2010 2011 2012 2013
Revenues 330,2 355,9 332,3 317,4
EBITDA 38,2 34,2 28,7 30,8
EBITDA margin 11,6% 9,6% 8,6% 9,7%
Net Profit 8,0 6,6 1,8 (3,5)
Fixed Assets 152,9 160,7 160,3 150,3
NFP 108,9 112,1 115,1 89,9
Shareholder's funds 124,0 126,3 121,8 113,3
81
COMPANY 12 - INDUSTRIAL MACHINERIES M&A
OPPORTUNITIES
COMPANY OVERVIEW
• Established in 1968, the company is specialized in the
design and construction of machines to complete plants
for the preparation of textile fibers to spinning, the
company has gained significant experience in all areas
where they are worked loose fibers (combing, spinning,
production of non-woven fabrics, felts , wadding and lines
of regeneration waste) and is also active in the field of
suction and technologies for dedusting of premises,
equipment and the fibers themselves, with automatic
filtering systems and packaging of powders. • The company would evaluate a range of different M&A
options, from a stake sale or a merger, to a JV and further acquisitions.
• The company is willing to sell a minority stake, namely 10% to 20%, to an industry partner that can provide expertise to integrate its core business. Given the firm produces machinery for preliminary wool carding, a potential bidder or a merger candidate could be a spinning wheel manufacturer.
• Desirable investors could be either peer local firms or bigger groups. The owner family aims to maintain its grip over the company. It could also consider striking a JV with a major group that is looking to take on board its niche expertise. The purpose of the deal would be to develop new products.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS
TRANSACTION PROPOSED
• Turnover 2014 €3M.
• The company cures both the part design that the
construction of all components relating to the installations.
Production is characterized by extreme flexibility and
adaptability to the space available and the needs of
customers for whom it always executes a customized
project. The company is run by its second family
generation.
82
COMPANY X - INDUSTRIAL MACHINERIES
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 greater economies of scale between three companies, objective achieved: 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
TRANSACTION PROPOSED
• STRENGTHS: Internationally competitive metallurgic
company. It operates three plants based in Italy’s leading
industrial district for mechanic products. IMT 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.
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 67 ~99 ~64
EBITDA ~ 6 ~7 ~1
Employees 340
Net Financial Position ~ 7 ~23 ~31
Euro Mln, Number
COMPANIES CONTROLLED BY A
GOVERNMENT-APPOINTED
ADMINISTRATOR
83
COMPANY M - METALLURGIC 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 turbine
casings for oil, gas, petrochemical industries and power
generation
• 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
TRANSACTION PROPOSED
• 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)
• The Company is looking for an Industrial investor
• 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.
FINANCIAL HIGHLIGHTS
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
84
COMPANY V - METALLURGIC SECTOR
COMPANY OVERVIEW
The Company
• The Company is engaged in alumina and aluminum
production (lost-foam casting), processing, and
intermediate products.
• The property was placed under temporary receivership in
September 2012.
• The plant is located within a metallurgic district in Central
Italy.
WHY INVEST
TRANSACTION PROPOSED
• 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.
• 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 reconversion.
FINANCIAL HIGHLIGHTS
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
COMPANIES CONTROLLED BY A
GOVERNMENT-APPOINTED
ADMINISTRATOR
85
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
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
Euro Mln, Number, 2015
2013 2014 F2015
TURNOVER 5,5 7,5 12,1
EBITDA 0,6 1,5 2,4
EBITDA % 10% 15% 20%
86
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 supplies
specializing 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
TRANSACTION PROPOSED
• 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
• The Company is looking for an Industrial investor
• Company/asset acquisition
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 17 ~ 15 ~ 17
EBITDA ~ -2 ~ -0.2 ~ 2
Employees 120
Net Financial Position
(€ ‘000)
~ -1 ~ -3 ~-10
Euro Mln, Number
87
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
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
Euro Mln, Number, 2014
2012 2013 2014
TURNOVER 4,2 4,5 4,8
EBITDA 0,3 0,5 0,5
4%
39%
42%
15%
North America
Domestic
Europe
Japan
88
COMPANY 13 - PHARMACEUTICAL INDUSTRY M&A
OPPORTUNITIES
COMPANY OVERVIEW
• Established in December 2011, the company is an Italian
distributor of OTC drugs and consultant to pharmacies. It
has clinched distribution deals with pharmaceutical
companies such as Bayer Healthcare, Bruno
Farmaceutici, Garofalo, Johnson & Johnson, Servier
Group and Thea Farma. It has launched proprietary
brands. The company also secured exclusive worldwide
rights to use a patent for a new series of functional health
foods. These foods are made from an active ingredient
derived from an Icelandic shellfish that has the ability to
reduce the absorption of lipids (triglycerides, fatty acids,
cholesterol) and to reduce body weight. The patent is held
by an Italian research center, which invested EUR 8m
over nine years to develop the active ingredient. Last
month, the company launched its first product, (pasta)
and it expects to launch breadsticks, rice, bread and
snacks very soon.
• The company is wholly held by the founding family.
• A private Italian distributor of OTC drugs and consultant to
pharmacies, is seeking to raise up to EUR 5m from
industry investors for growth capital. Proceeds will be
reinvested in financing expansion of the company’s
marketing operations and distribution network.
• Suitable investors include both industry players and
financial sponsors.
• Industry investors are likely to be French or Southern
European distributors – in particular from Spain, Portugal,
Turkey – that are seeking to enter the Italian market.
However, it might also attract interest from Chinese
players that have a portfolio of complementary products
and are seeking to establish a foothold in Europe.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS
TRANSACTION PROPOSED
• Turnover 2014 €7M .
89
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 over
2,600 employees
Asset Profile
• Production plant owned by the multinational parent
company
WHY INVEST
TRANSACTION PROPOSED
• 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
FINANCIAL HIGHLIGHTS
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
90
COMPANY W - RAILWAY
COMPANY OVERVIEW
The Company
• The Company is engaged in design, construction,
renovation, conversion, overhaul and maintenance of
railway vehicles and in the manufacturing of railway
locomotives and rolling stock.
• The company is among the largest Italian railway
manufacturer.
• The property was placed under temporary receivership in
April 2014.
• The plant is located in Northern Italy.
WHY INVEST
TRANSACTION PROPOSED
• 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.
• 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 reconversion.
FINANCIAL HIGHLIGHTS
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
COMPANIES CONTROLLED BY A
GOVERNMENT-APPOINTED
ADMINISTRATOR
91
COMPANY AA - RETAIL
COMPANY OVERVIEW
The Company
• The Company is engaged in the retail sale, distribution
and logistics of furniture, accessories and home decor
items.
• 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
TRANSACTION PROPOSED
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.
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 50 ~46 ~47
EBITDA ~ 13 ~5 ~5
Employees 175
Net Financial Position ~101 ~87 ~88
Euro Mln, Number
COMPANIES CONTROLLED BY A
GOVERNMENT-APPOINTED
ADMINISTRATOR
92
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: 2,5/3,5 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
FINANCIAL HIGHLIGHTS
Euro Mln, Number, 2015
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%
MARKETS & COMPANY STRUCTURE
93
2014 2015
TURNOVER 5,3 5,1
EBITDA 24,6 22,1
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 to
support the working capital needs consequent to the
consolidated operating growth.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
Euro Mln
• To offer customers innovative products and processes,
according to the changing needs of the market, the
company have established a special relationship with the
reference entities of the entire textile chain, from spinners
to designers, from university research centers to
laboratories accredited with the aim to research and
develop new materials and new effects.
94
COMPANY 1 - TEXTILE INDUSTRY M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company is an Italian manufacturer of printed silk
textiles. The group exports 90% of its production, but
does not target foreign markets for strategic growth at
present..
• The company produces silk fabric for men and women
apparel and accessories. Its woman division accounts for
60% of its revenues.
• The company is focusing on its organic growth. Last year,
it invested over EUR 2m in a new digital printing
department, that allows the company to speed up
production and be more flexible with clients’ requests.
Due to the new printing process, it could produce the
same fabric meters in 1H15 than the entire 2014 season.
This year, the company invested some EUR 500,000 in
new machineries, and the same figure is spent yearly in
maintenance works.
• Founded in 1902, the company is a family-owned
business and it is run by the fourth generation.
• The company could consider striking joint venture
partnerships to develop new products made of different
fabrics.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Turnover 2014 €75mil with 6% EBITDA margin.
95
COMPANY 2 - TEXTILE INDUSTRY
COMPANY OVERVIEW
• The company is a privately held Italian
shirt maker. In 1925 it was decided to
set up her first workshop in the
historical center of Naples, where shirts
for a select number of customers were
sewed, using the Neapolitan high
fashion rules which regarding elegance
laid down the law all over the world.
• The company is seeking private equity investment in an effort to accelerate its expansion plans. Management is open to approaches directly from interested parties, as well as from advisors with potential investors.
• In order to increase its sales abroad, the family's owners would be interested in approaches from private equity firms. Suitable candidates would have extensive expertise in the retail industry, an investor with a retail background could help speed up the company’s internationalization.
• The owners will consider offers for a minority stake, with 49% the maximum and the family would like to remain involved in the business. The company did not spell out its valuation and how much they intend to raise from this transaction; however, the management would like to share and implement its business plan together with the investor.
• Proceeds from the stake sale would be used to expand into Latin America, China and the Middle East.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Turnover 2014 €6m, exports account
for the 90% of the company's sales last
year. Japan, Korea, all of Europe and
New Zealand are the company's key
markets.
• Established in Naples in 1925, the company is owned by the founding
family and is managed by the fourth generation.
M&A
OPPORTUNITIES
MARKETS & COMPANY STRUCTURE
96
COMPANY 3 - TEXTILE INDUSTRY M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company is located in Tuscany, an
industrial district known for its
tanneries. The core business is the
design, production and trade of chrome
tanned leathers and vegetable, beef
and sheep-caprine for footwear and
leather goods.
• The company is seeking an investor to accelerate its growth plans. The
company is receptive to offers from private equity firms and is looking to
raise fresh funds for domestic acquisitions.
• The ideal bidders would be financial backers interested in sharing a growth
project. An approach from a PE already involved in a fashion company
would be of particular interest. The investor might consider a stake in the
company for vertical integration, combining different business. It is not
looking for approaches from trade players or strategic investors. The aim of
exploring the investor option is to help the company to optimize its size.
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Turnover 2014 €25Mil
• It is characterized as a small / medium enterprise aimed at a high-end
market with fashion’s accessories. It owns three tanneries in India - Cristina
India, Prime and Scintan - close to Chennai, in Tamil Nadu.
• The company is wholly owned by two brothers
MARKETS & COMPANY STRUCTURE
97
COMPANY 4 - TEXTILE INDUSTRY M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company is part of an Italian
apparel group. The group is active in
the production of clothing and
accessories for women and child with
their own brands and as well as an
important brand licensed.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Turnover 2014 €77Mil
• The production is distributed mainly through the wholesale channel, with a growing weight of retail, both franchise both through direct outlets. The founding family owns 70% of the company. The remainder is owned by an investment house, which invested EUR 9m in 2013. The company is also in the process of exploring new foreign markets, particularly China and the Middle East.
• In China, the company aims to clinch joint venture (JV) and commercial agreements with local players. Here, the company entered talks with a Hong Kong-based group, to sign a 50/50 JV deal in which the Chinese company will bear the expenses for single-brand shop openings, while the company will provide its product range. The investment in each shop is in the EUR 0.1m range.
• Similar strategic plans are being carried out in the Middle East, where the company already owns shops in Qatar and Saudi Arabia. The company is holding talks with local players to evaluate opening a further 15 retail points through JVs or acquiring minority stakes in local firms
• The company is willing to evaluate investor approaches. • The group expects to see interest from financial investors with international
networks and knowledge of the fashion industry and welcomes advisory pitches. It could sell a minority or even majority stake depending on the suitor's offer.
• The company is financing its organic growth through internal cash resources and credit lines, but could use the support of a new financial partner.
98
COMPANY 5 - TEXTILE INDUSTRY M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The company is a privately held Italian fashion company.
Since its foundation, the company has designed and
manufactured ties in gauze and dressing gowns in silk.
The company is headquartered in Como, a small city
close to Milan.
• The company aims to take on board an external investor
to speed up the execution of a retail project in Asia. The
management welcomes approaches from advisors that
can introduce interested bidders. Preferred takeover
candidates would be either, private equity firms with
extensive expertise in the retail and fashion industries or
international fashion houses with an established presence
abroad.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS TRANSACTION PROPOSED
• Turnover 2014 €5Mil
• The company is one of the top names in high-end
gentlemen’s accessories in Italy and has a century-old
menswear brand. There is a sole owner of the business
99
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 Profile
Located in the center of Italy, the area is known for its
natural springs and thermal waters
WHY INVEST
TRANSACTION PROPOSED
• 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
• Company acquisition
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 2 ~ 1 ~ 1
EBITDA ~ -0.8 ~ -1 ~ -0.5
Employees 25
Net Financial Position ~ 2 ~ 2 ~ 2
Euro Mln
100
COMPANY Y - TRANSPORTATION
COMPANY OVERVIEW
The Company
• Low-cost passenger airline company established in 1998
operating scheduled and charter flights from Italy to
various 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
TRANSACTION PROPOSED
• 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
• Company/branch acquisition through public bidding
managed by the Ministry of Economic Development and
the company’s caretaker (Commissario Straordinario).
FINANCIAL HIGHLIGHTS
2011 2012 2013
Turnover ~ 297 ~263 ~192
EBITDA ~ 3 ~-14 ~-13
Employees 489
Net Financial Position ~35 ~35 ~46
Euro Mln, Number
COMPANIES CONTROLLED BY A
GOVERNMENT-APPOINTED
ADMINISTRATOR
101
COMPANY 14 - WHITE GOODS INDUSTRY M&A
OPPORTUNITIES
COMPANY OVERVIEW
• The group is a private Italian commercial refrigeration
producer. It was established in 2006 as the result of a merger
between two brands which have more than sixty years old
experience in the commercial refrigeration.
• The groups also holds a company which produces air
conditioned cellars to preserve and display wines. The
group’s headquarter is in the northern Italy, and its worldwide
activity is granted by commercial sites present all over the
world. The Group produces about 110.000 pieces per year of
different models for Beverage, Ice-Pastry, Retail-Market,
Wine, Kitchen-Catering including Delivery vans. The company
cooperates with the most important multinational food
producers and international academic institution to offer the
most advanced energy saving solutions for a low
environmental impact together with the best quality made in
Italy and long-term constant reliability.
• The only owner is 68 years old and has no family
members who are willing or able to take over the
business.
• The company is looking for buyers to relaunch its business
and ensure its continuity.
• The management has outlined a strategy, which includes
cost-saving measures, to deal with the transition period. The
company, which restarted production last December, would
lease the business unit to the suitor, giving the company
enough breathing space to renegotiate its debt with creditors.
• The suitor would create a new company (newco) which will
effectively run the business without the debt burden. The
newco would eventually take over the business at a later
stage once a massive company restructuring is finalised.
• The company has 18 international patents, brands and state-
of-the-art energy-saving technologies, which are attractive
assets for a potential buyer. However, investment is needed
to launch new products, reduce the debt level and solve
succession issues.
MARKETS & COMPANY STRUCTURE
FINANCIAL HIGHLIGHTS
TRANSACTION PROPOSED
Revenues 2013 €37.6m with EBITDA margin of 5.5% and a
loss of EUR 587,284.
104
LOCATION
PIEDMOUNT, TURIN - TORINO UNIVERSITY CITY DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Widespread infrastructural
connections to railway,
airport and urban
transportation. The City
has launched a major
urban transformation that
will see in the next few
years the redevelopment
of Barriera di Milano and
Regio Parco, involving the
construction of the new
Metro Line 2.
The City of Torino has
already identified 10
areas where to build new
residences. A total of
about 5,000 new beds
for students with related
services could be
created (about 10,000
beds in three years).
Area 390,297 sqm
of which (in sqm):
Manif. Tabacchi: 89,400
Area Combi: 12,900
Ponte Mosca: 17,300
Area TNE: 142,300
Area Gasometri: 44,000
Fiocchetto: 2,100
Corso Farini: 1,400
Area Nebiolo: 28,000
Area Ghia: 5,597
Via Lombroso: 1,300
Torino is now a major
cultural and R&D center,
a top level university city.
The project “Torino Città
Universitaria” presents an
outstanding opportunity
to realize a new idea of
university life; in fact the
municipality is launching
a student housing project
with the aim to build new
top quality facilities and
services. A call has been
issued to real estate
developers in order to
start negotiations for the
development of new
student housing projects.
TYPE OF INTERVENTION
• New Construction
• Restoration
• Urban development
OTHER
PROJECTS
105
LOCATION
PIEDMOUNT, TURIN - V200 / LINE 2 OF THE METRO
DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
V200 is an ambitious
project for two strategic
locations in the northern
sector of Torino central
metropolitan area. V200
is a mixed, transit-
oriented brownfield re-
development including
housing, social housing,
hotel, retail, offices,
workshops, public
services, parks, public
space; integrating 1 new
line of underground metro
public transport and 1
underground railway
station. V200 is a flexible
plan, open to initiatives of
all types, of various
scales and timelines.
V200 is a mixed development
project, transit-oriented, on
industrial sites. The project
includes the new Line 2 of
Underground Metro and a
new underground railway
station.
Area 775,938 sqm
of which:
Residential: 433,638
sqm
Retail: 189,391 sqm
Tourism: 152,899
sqm
The new northern gate to the city core, Vertice nord, will host a mix of retail, leisure, services and residential that will be Torino’s metropolitan “downtown” with exceptional public & private transport accessibility. The Regio Parco district will be Torino’s best location for housing with a new park directly connected to the river system within walking distance from the historic center. The two sites are connected by Alberata, a linear park of 1.5 Km over the metro tunnel.
TYPE OF INTERVENTION
• New Construction
• Urban development
OTHER
PROJECTS
106
LOCATION
PIEDMOUNT, TURIN - CAVALLERIZZA REALE COMPOUND
DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
The compound is
located between the
railway stations Porta
Nuova and Porta
Susa, Metro Line 1
(closest metro stop
Porta Nuova), buses
and trams (inner-city
buses n.13, etc.). It is
already foreseen the
realization of Metro
Line 2 with metro
stop in Piazza
Castello.
• Ring road: 7 km
• Porta Susa Station
(High speed
railway): 2.5 km
• Torino Caselle
Airport: 18 km.
Policies and measures have
been taken to reaffirm the
importance of the historical
area, both as a cultural hub
(theatres, museums, libraries)
and as Knowledge Center
(Università di Torino).
Area 14,500 sqm
Museum functions,
exhibitions, cultural,
academic, residential
accommodation, and
tertiary facilities of
common interest.
Cavallerizza Reale is a
project of urban
renovation, in the heart of
the city, of a historical
compound with
noteworthy architectural
relevance. The City
Urban Plan designates
the compound as “Area
to be transformed” in the
historical city centre,
and it is regulated with a
specific law in order to
rule the detailed
transformations.
The aim is to renovate
the entire compound and
to imagine a different use
for the space.
TYPE OF INTERVENTION
• Restoration
• Urban development
OTHER
PROJECTS
107
LOCATION
PIEDMOUNT, TURIN - REUSE OF BROWNFIELD
PROPERTIES IN PIEDMONT
DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Re-development of the
old industrial plant
through the realization of:
a new technological hub;
realization of commercial
spaces; new industrial
areas for the economic
and production activities;
new polyfunctional
settlement.
High-risk/high-return
strategy that may also
involve investments in
development, raw land,
mortgage notes, and
niche property sectors.
Investments are tactical.
TNE SpA: Land area
298,200 sqm - Gross
floor area 80,600 sqm
SIT Srl: Land area 60,190
sqm - Covered area
42,133 sqm
SNOS SpA: Gross floor
area 14,000 sqm
MONTEPO SpA, SAIA
SpA in c.p.,
NORDIND SpA over
500,000 sqm
Regione Piemonte,
through its Holding
Finpiemonte
Partecipazioni and its
subsidiary companies,
develops interventions
concerning the reuse of
industrial areas and
already existing buildings,
the construction and the
management of new
areas and buildings, for
the settlement of
economic activities and
related services, with
particular reference to
environmental
sustainability.
TYPE OF INTERVENTION
• Restoration
• Urban development
OTHER
PROJECTS
108
LOCATION
MARCHE, CAMERANO - CONERO VILLAGE DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Purchase or Shared Investment Implementation plan approved Detailed plan (Working Plan) of the SPA structure already drawn The sulphurous mineral water has been authorized for SPA use. Project immediately implementable.
The area is served by the “A14” motorway and is close to the Airport, the train station and the port of Ancona. Close to the Conero Regional Natural Park, the area is easily accessible by car/other means of transport The project combines health, entertainment and leisure
Total area 28,895 sqm: Health & Beauty: Gross Usable Surface (SUL) sqm 4,936 Residential: SUL sqm 13,596 Sport & Leisure: SUL sqm 10,363 (sqm 1,800 for Trading).
The total surface is over 24 hectares (59 Acres). The area is divided in 3 lots with a common purpose: • Health and Beauty SPA
encompassing swimming pools, wellness and rehabilitation centres, lodging and halls.
• Residential for the building of any housing - Sport/Leisure and Trading
• The project envisages the use of the “salsobromoiodic sulphurous” mineral water named “Conero”
TYPE OF INTERVENTION
• New Construction
OTHER
PROJECTS
109
LOCATION
MARCHE, JESI - AGRI-FOOD LOGISTCS HUB DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Fully licensed area for the
building of warehouses.
The hub is equipped with
20,000 sqm parking lots
and cargo handling area.
Geographic location Multi-modal shift Bonded warehouses In-house customs services Estimated Return on Investment (ROI) 7% Interporto Marche dry port is directly rail-linked to the main East- West domestic railway line and to the A14 pay toll motorway (Ancona Nord exit).
Area of 49,000 sqm:
Office: 19,000 sqm
Industrial: 30,000 sqm
(sqm 20,000 room-
temperature warehouse
and sqm 10,000
refrigerated warehouses)
The aim is to build an agri-food logistics hub within the Interporto Marche dryport property. Interporto Marche dryport is a core Rail-Road Terminal (RRT) of the Scandinavian Mediterranean Corridor. Ancona Airport (Aeroporto delle Marche) is a “comprehensive” hub of TEN-T Trans-European Network Transport of the same Corridor. A free-trade zone (FTZ) area is also available to support import/export trade.
TYPE OF INTERVENTION
• Intermodal transport
and logistics investment
OTHER
PROJECTS
110
LOCATION
MARCHE, PORTO SANT’ELPIDIO - EX-FIM SPA DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Purchase or Shared
Investment
Permits issued by the
Province after
remediation activities
on the area.
One of the last areas in Italy in
front of the sea
Opportunity for tourism: the city
needs a new 4/5 star hotel
Buildings in class A/A+
Interesting commercial space:
lots of brands have shown
interest
The area is served by the “A14”
motorway and is close to the
Airport, the Train Station and the
Port of Ancona.
Total plot land is
sqm 73,000
Residential: sqm
25,000
Retail: sqm 5,000
Tourism: sqm 5,000
TYPE OF INTERVENTION
• New Construction • Restoration • Urban Development
OTHER
PROJECTS
Restoration of an old industrial area facing the sea: construction of a hotel within the old industrial building (5,000 sqm); a new residential area (25,000 sqm); a new commercial area (5,000 sqm). The land plot is characterized by a large park with pine forest (south). Hotel is located on a large square in front of the sea. Residences buildings (North) are composed by four green courtyards characterized by villas at 2/3 floors, in the sides perpendicular to the sea, and a 5-storey buildings in the short side, parallel to the sea
111
LOCATION
MARCHE, FALCONARA MARITTIMA - AIR CARGO
CENTER DESCRIPTION KEY OPPORTUNITIES
Integral part of the Adriatic Logistic Platform that will become an integrated network infrastructure attracting passengers and cargo flows. The only airport in the Marche Region with a wide catchment area (from Abruzzo to south Romagna) Easily accessible from highway, railway station, Ancona Harbour and Jesi Interporto Freight Village A modern infrastructure able to handle 1 mln passengers
AREA KEY FACTORS
Type of
investment:
Equity
Participation
The project has
been approved
and is ready to be
started
Total area is sqm
11,100
Retail: sqm 5,500
(offices, retail shops,
restaurant and boarding
gates).
Office: sqm 1,600
Industrial: sqm 4,000
(“room temperature”
warehouses)
The Air cargo centre aims
at becoming the main
infrastructure of the
Adriatic Logistic Platform
made up of three hubs.
ALP strength is
represented by specific
customs services,
customs warehouses,
temporary housing and
fiscal warehouses which
will allow companies to
reduce the supply chain
costs. The Air cargo
center (5,600 sqm) will be
built in a dedicated
airport; the restructuration
of the old terminal aims at
creating an 5,500 sqm
exclusive outlet
TYPE OF INTERVENTION
• New Construction
• Renovation
OTHER
PROJECTS
112
TUSCANY, LIVORNO - DARSENA EUROPE DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Concessions agreement
over 30 yrs min time
frame, ensuring the
access to a growing
market.
5 years for the
completion of container
terminal
The forecasted traffic
growth in 2040 is
expected be around 3
mln TEUs.
Strategic position along
the major trade roads,
near to Italian core
industrial regions. A key
gateway Port to central
eastern Europe with
updated port facilities & a
modern rail terminal,
which will enhance the
direct forwarding of block
trains from the shore to
the hinterland.
Total surface: 72 ha
Storage and handling
yard: 34,5 ha
Rail terminal: 36 ha
Quays depth: -16 mt
Quays length: 1450 mt
This new port
infrastructure project in
the Port of Livorno will be
equipped with rail
connections and berths,
which will enhance
smooth port inland
interconnections and will
accommodate the newest
container vessels
entering into service. The
Darsena Europe will
consist of 3 different
terminals: a container
terminal, a terminal
dedicated to Ro-Ro traffic
and one liquid bulk (oil)
terminal.
TYPE OF INTERVENTION
• Demolition and
reconstruction
• Urban development
LOCATION
OTHER
PROJECTS
113
LOCATION
TUSCANY - EX OFFICINE GRANDI RIPARAZIONI DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Type of investment:
purchase or shared
investment
Investment timing: 2019
20% of the residential
portion to be allocated to
social housing
Construction of a new
stretch of the main road
and related connections
Approval of the City
Council not required
One of the most
important areas of
redevelopment of the city,
in a rapidly evolving
context
Excellent accessibility
Proximity to centers of
cultural and fair attraction
Opportunity to build a
portion of the city with
integrated functions
The transformation plan
affects the residual area
of the railway
compendium of Porta
Prato & the goods yard.
To date a large part of the
railway complex still
needs to be redeveloped,
driven by an increasing
demand of the city to
transform the former area
into a new settlement
with a mainly residential
use, along with a mix of
commercial, tourist
accommodation and
office functions.
TYPE OF INTERVENTION
• Restoration
• Demolition and
reconstruction
• Urban development
Total surface area:
52,000 sqm
Residential: 31,200sqm
Retail: 4,680 sqm
Tourism: 5,720 sqm
Office: 10,400 sqm
Few minutes walk from
the railway station of St.
Maria Novella and the
historic centre served
by the tramway station
OTHER
PROJECTS
114
LOCATION
PROVINCIA AUTONOMA TRENTO, MORI - EX
ALUMETAL AREA DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Type of investment: lease or
sale of the property to a
potential industrial investor
The Power Plant shall be
preserved with conservative
restoration interventions,
while the “oven room A” shall
be preserved by property
renovation.
Restoration/construction
works will take 48 months
approximately
The “oven room A”, with its
400 mt-facade facing the
Adige River, represents an
important landmark both
historically and culturally for
the inhabitants of
Vallagarina.
The area lies in proximity of
the exit junction of A22
Rovereto Sud Highway,
connecting to provincial road
SP 90 “Destra Adige”.
Total area is sqm
109,000
The “ex Alumetal” is an
abandoned industrial site
near Rovereto, well
limited by geographic
elements and
infrastructures: the Adige
River to the east, the
channel “Biffis” to the
north and the SP 90 road
along the west side. The
built up area occupies
about 2/3 of the
“Alumetal” site bordering
the river Adige.
The architectural work
needed regards the great
“oven room A” and the
former “Power Plant”
under the protection of
architectural heritage.
TYPE OF INTERVENTION
• New Construction
• Restoration
OTHER
PROJECTS
115
LOCATION
BASILICATA, MARATEA - WTC BASILICATA BUILDING DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
The area has achieved all the necessary permits and it is ready for the refurbishment since the existing buildings have to be dismantled. The land is owned by a third party player, which is eager to sell it for a value which can be negotiated, especially if the counterpart has a credible and sound business vision.
The structure will be
easily reached by public
transport and roads,
being perceived as a
distinctive structure
within the Basilicata and
nearby areas with a
marvelous view over the
sea. The complex will
operate on two floors
over the terrain (ground
and first floor), an attic
floor and a basement.
The multifunctional
complex will has an area
of approximately 1
hectare and will host:
•Trade and event area
•Office area
•High luxury resort with
park and swimming pool
(all year operational)
•Restaurant
•Cinema - theater
WTC Basilicata Holding
aims at realizing the WTC
Basilicata Building as a
focal point of the
economic and cultural
activities for regional,
national and international
stakeholders. All the
services that international
trade professional needs,
and additional services
related to education,
trade shows, cultural and
leisure events could be
held. Finally the luxury
hotel, the restaurant and
the park with the
swimming pool will
complete the offer.
TYPE OF INTERVENTION
• Demolition and
Reconstruction
• Renovation
OTHER
PROJECTS
116
LOCATION
CAMPANIA, GAETA - PORT KEY FACTORS
The city is located
on a gulf at a short
distance from the
isles o Ischia and
Ponza and close to
the National Park
of the Circeo.
…
DESCRIPTION KEY OPPORTUNITIES AREA
Gaeta has a seafaring and
boating tradition with deep
roots in the past and,
despite the presence of
four ports and marinas, in
addition to a number of
structures for smaller boats,
the supply of berths is still
insufficient.
Total area: 50,000 sqm of
which 23,000 for the outer
breakwater pier
Commercial area: 2,300
sqm
Berths: 399 (317 for 8-12
meter long boats; 82 for 12-
25 meter long boats) 90%
of which is for sale.
The Port of Gaeta will be
built in the city of Gaeta,
140 Km south of Rome, by
the Tyrrhenian coast.
The project intended for
399 berths, with a 50 year
concession of use from
2015, is already equipped
with all the permissions for
the beginning of work.
The planned duration of
works is of 4 years.
OTHER
PROJECTS
TYPE OF INTERVENTION
Participation:
• Total value: 39 Mio €
• Asking investment: 17,5
Mio €
• Revenues from selling of
359 berths: over 59 Mio €
• Revenues from rental of
40 berths for transient
mooring: 650K € per year
117
LOCATION
LAZIO, ROMA - PROGETTO FLAMINIO
(EX CASERMA GUIDO RENI)
DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Type of investment:
Purchase
Not subject to restrictions
by the Ministry of Cultural
Heritage.
Following an International
Design Competition, the
selected “Studio 015
Viganò” is currently
drafting the recovery plan
(based on the
masterplan).
www.progettoflaminio.it
The former barrack is
located in the a high-end
residential area of
Flaminio district (north
part of the town)
1 Km from the historical
centre
Next to important
architectural units: Foro
Italico and Olympic
Village; Auditorium by
Renzo Piano; MAXXI
Museum by Zaha Hadid
The complex covers an
area of more than
50,000 sqm
Apartments: 29,000 sqm
Social housing: 6,000
sqm
Retail: 5,000 sqm
Hotel: 5,000 sqm
City of Science: 27,000
sqm
Complex composed of 23
buildings enclosed by a
perimeter wall, formerly
used as factories,
warehouses and
workshops. The
conversion to residential,
retail and hospitality
purposes requires a
change of urban Zoning
Plan (currently
undergoing by the
Municipality of Rome).
The Masterplan will
include “The City of
Science”, a public
building to be developed
by the Municipality
TYPE OF INTERVENTION
• Demolition and
reconstruction
OTHER
PROJECTS
118
LOCATION
TUSCANY, FIRENZE - EX MANIFATTURA TABACCHI DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Type of investment:
Purchase
In the immediate
proximity of the historical
city center, the airport
and the University of
Florence, near the Arno
river and the town’s
historical Park Le
Cascine, on the right
bank of the Arno river.
Redevelopment of a
historic industrial
architecture complex
Large size project with
mixed uses (residential,
commercial, office space,
tourist accommodations)
The property will be
connected to the center
and the main bus/train
station by a tramline.
Total area: 88,687 sqm
Residential: 41,638 sqm
Social Housing: 4,350
sqm
Tourism: 11,647 sqm
Retail: 10,843 sqm
Office: 20,209 sqm
Area to be recovered:
57,686 sqm (65%)
New building: 31,000
sqm (35%).
Former industrial factory
(built between 1930 and
1940) consisting in
several separate
buildings many of which
designed by Pier Luigi
Nervi. Two buildings
represent the facade of
the industrial plant: the
first one comprises a
central block on the
ground floor and two side
wings; the second one
(now the Puccini Theatre)
is a two-storey structure.
TYPE OF INTERVENTION
• Renovation (of historic
portions)
• Demolition (of recent
portions) and
reconstruction (of a new
urban/architectural
structure).
OTHER
PROJECTS
119
LOCATION
VENETO, VENICE - EX OSPEDALE AL MARE
DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
Type of investment:
Purchase
The regeneration plan is
achievable through a
Zoning Plan Change
approved by the
Municipality of Venice in
2011.
The building complex
renovation is due under
the supervision of the
Ministry of Cultural
Heritage.
Redevelopment of a
monumental/iconic asset
Large size project with
flexible/mixed uses
located in Venice: high-
ranking destination in
Italy for tourism and art.
In front of the Lido of
Venice, close to the
Nicelli private airport and
to the tourist area
Total Area is 48,150
sqm out of which:
Residential: 44,050 sqm
Tourism: 1,200 sqm
Commercial: 1,050 sqm
Collective activities:
1,850 sqm
The area is bordered to
the south-east by the
beach and north-west by
large green areas
The building complex
“Former Ospedale al
Mare” is composed of
more than 30 buildings,
mostly fronting the beach.
The Hospital was
dismissed in 2009.
In August 2015 a
development and
management agreement
was signed with Hines
Group, manager of “Real
Venice I”, a closed Real
Estate investment fund
owner of Hotel Excelsior
and Hotel Des Bains,
both located at Lido.
TYPE OF INTERVENTION
• Demolition and
Reconstruction
OTHER
PROJECTS
120
LOCATION
SARDINIA - RESORT DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
The Hotel has a
diversified offer due to
the presence of different
type of hotels addressed
to different customer
segments
The Hotel is located in
Sardinia, one of the best
touristic destination in
Italy
The Hotel facilities
include 10 restaurants, 4
meeting rooms (of which
a 700 seats meeting
room), wellness center
and is close to a 9 holes
golf court.
3 hotels / 900 rooms
Area of about 40.000
sqm
Property: Italian resort
Type: Hospitality
The resort complex
comprises three 4 stars
hotels located in a 60
hectares park near the
sea in Sardinia
TYPE OF INTERVENTION
• Disposal of the Resort
including both the
property and the
management company
by a Private Italian
Group
OTHER
PROJECTS
121
LOCATION
LOMBARDY, MILAN - BUSINESS HOTEL DESCRIPTION KEY OPPORTUNITIES AREA KEY FACTORS
The Hotel was built in
2006 and renovated in
2012
Somma Lombardo is at 7 km
away from Milan Malpensa
Airport, the most important in
northern Italy, and it is just 45
km from the Center of Milan
Maggiore Lake, Como Lake,
Lugano Lake are at most 50 km
away by car.
The Hotel has 207 bedrooms,
all provided with the latest
technology facilities and
comfort.
It also provide a full range of
services, such as 400 square
meters conference room, an
Italian food restaurant and
fitness facilities
207 rooms
400 square meters of
conference room
Property: Italian Business
Hotel
Type: Hospitality
4 stars business hotel
located close to the
Malpensa Airport and
Expo Exhibition Center.
The hotel is operated
under a top international
brand
The Hotel is located in
Somma Lombardo, in
Lombardy.
TYPE OF INTERVENTION
• Seller of the Hotel:
Italian bank
OTHER
PROJECTS
122
LOCATION
VENETO, VENICE - HOTEL COMPLEX DESCRIPTION KEY FACTORS
The brick, neo-Gothic, 9 story high, 13-building complex was constructed at the
turn of the 20th Century when a Swiss/Italian industrialist sought the perfect
situation for his mill that could easily ship the milled flour by sea and receive the
grains from Italy’s interior via the inland Veneto canal systems. The hotel has 379
comfortable rooms, including 88 executive and 44 suites.
The auction to find a
buyer for the hotel
complex in
administration in the
Italian city of Venice,
has failed. The offers
from the three bidders
were deemed too low.
The bids came in at
EUR 150m-EUR 200m
range.
Unicredit is handling the
sale for liquidators of an
industrial group of Italian
entrepreneur. Unicredit
thinks it is likely that the
suitors will return with
improved bids, and that
other financial and
industrial bidders could
join the race, the report
concluded.
OTHER
PROJECTS
123
LOCATION
TUSCANY, SIENA - HOTEL COMPLEX DESCRIPTION AREA KEY FACTORS
In the heart of the beautiful Tuscan countryside,
among rolling hills and rows of cypress trees, stands
the ancient home of the monks Olivetani of 1300,
beautifully restored and transformed into a romantic
hotel. The hotel, a medieval estate has been
renovated in recent years with four suites, four
double rooms and an outbuilding.
The 32-hectare agricultural land, which is also part of
the sale and includes woods, olive groves and barley
fields, is held by the company.
The estate is located in
Tuscany near Siena,
between Montalcino and
Montepulciano.
A private Italian company
which owns a three-star
hotel and agricultural
land, has mandated an
advisory boutique to
explore a sale in the
region of EUR 9m.
OTHER
PROJECTS
124
Elio Milantoni Partner | Head of Corporate Finance
Advisory
Deloitte Financial Advisory S.r.l.
Via Tortona 25, Milano, 20144, Italy
Tel/Direct: +39 02 83325066
Fax: +39 02 83347582
Mobile: +39 3488856686
www.deloitte.it
Volkan Kükrer Managing Partner
Business Integration Partners
Astoria Kempinski A-1804 Esentepe
Mh., Büyükdere Cd No: 127, 34394
Şişli, İstanbul, Türkiye
Tel/Direct: +90 212 3222666
Mobile: +90 541 585 73 78
www.businessintegrationpartners.com
Stefano Nigro
Responsabile Invest in Lombardy
Promos
Via Meravigli, 7 - 20123 Milan
Tel/Direct: 02 8515 5220
Fax: +39 02.8515.5227
Mobile: +39 335 1956296
www.investinlombardy.com
Pietro Buccarelli Partner
Gianni, Origoni, Grippo, Cappelli &
Partners
Via Massimo d’Azeglio, 25 - 40123
Bologna
Tel/Direct: +39 051 6443611
Fax: +39 051271669
Mobile: +39 348 0702231
www.gop.it