Italy’s private equity and m&a weekly roundup. News from Cotril, Investindustrial, Illimity, Idea CCCR II, Tamburi, Ambienta, ArchiMed, Palladio, FSI, SprintItaly, Ethica, Gelit, OreFin, Gradiente, Crif

Italian private equity firms acquire foreign companies with iconic brands and keep a steady level of activity. Cotril, the Italian producer of hair care items, confirmed rumors reported by BeBeez some days ago telling that the company hired PwC to for finding a financial investor, In a press release ceo and major shareholder Marco Artesani said  he is looking for a minority parnter which can help the company to reach the right size to list at the Italian Stock Exchange (see here a previous post by BeBeez). Cotril reached 20 million euros in revenues in 2018 and4 millions in ebitda. Investindustrial acquired British iconic car producer Morgan Motor Company from the Morgan Family, which will hold a minority of the business together with the company’s managers and workers (see here a previous post by BeBeez). The transaction is debt free. Morgan has sales of 33.8 million euros and net profits of 3.2 million. Illimity Bank, the bank that Corrado Passera created after a business combination between Banca Interprovinciale and the Special Purpose Acquisition Company Spaxs,  listed on Milan stock market on Tuesday March 5 (see here a previous post by BeBeez). Passera said that by 2020, the company set a target of 3.5-4.3 billion worth of assets and of 6.6 billion by 2023. Profits may be of 55-70 million in 2020 and of 280 million in 2023, while Roe should be of 9-10% in 2020 and of 25% in 2023 (see here a previous post by BeBeez). All Illimity sh[...]

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