The Searchlight fund will come out of Eolo di Spada. Numbers and timing of the operation. The company's accounts and the pledge of the shares to Mps and Unicredit
Searchlight, a global private equity fund, is ready to sell 49% of the capital held in Eolo, operator in the fixed-wireless ultra-broadband. Searchlight's release should not go through Business Square.
Searchlight Capital Partners is a global private investment firm with offices in New York, London and Toronto, making investments "where its long-term capital and strategic support accelerate the creation of value for all stakeholders". In January 2018 it entered the capital of Eolo, committing approximately 300 million euros in the period 2018-2020.
THE POSSIBLE EXIT OF SEARCHLIGHT FROM EOLO
Let's start with the rumors of MF – Milano Finanza : Searchlight, by the end of 2020, could leave Eolo, a group that refers to Luca Spada, owner of 51% of the company with Elmec Group. The sale of the 49% stake, acquired in 2018, will take place through sale to another operator, without going through Piazza Affari.
TOWARDS A BILLIONAIRE DEAL?
Aeolus "could be credited with a billion dollar valuation and represent a very important deal for the sector", comments MF – Milano Finanza , who adds that the group "could reach a billion mark, given that the average multiple of the sector is 10 times higher. 'ebitda ".
Founded in 1999, Eolo is a national telecommunications operator , active in the field of ultra-broadband for the residential and business market. The company reaches over 6,000 municipalities throughout Italy and will reach 7,500 municipalities in 2021.
Eolo creates fixed radio links, creates radio networks and develops services for both residential and corporate users.
Its shareholders are Cometa SpA (controlled by the founder Luca Spada with 51% of the capital) and the Searchlight Capital Partners fund (49%). On the 26.5% (1,461,306) of Cometa shares there is a pledge in the comparisons of Mps Capital Service and Unicredit. Pledge in favor of Mps and Unicredit also on 25.5% of the capital of Searchlight.
THE NUMBERS OF EOLO
The company in 2019 did worse than the numbers of 2018. The telecommunications group closed 2019 with revenues of 131,355,383 euros, up compared to 104,170,157 euros in 2018. Total costs increase: 126,875,791 euros in 2019, compared to 94,721,622 euros in 2018.
The profit, at 31 December 2019, was 2,835,221 euros, a net decrease to 7,313,889 euros in 2018.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/eolo-il-fondo-searchlight-dira-addio-a-spada/ on Mon, 19 Oct 2020 05:20:56 +0000.