Engineering, here is turmoil and news (what will Ibarra do?)
What do Engineering's shareholders expect from the next CEO Maximo Ibarra who leaves Sky Italia
Engineering Ingegneria Informatica SpA, wholly owned by Centurion BidCo SpA, is renewed. The Roman company, which in recent months has expanded its Board of Directors, is preparing to welcome the new one to Maximo Ibarra.
IBARRA CEO OF ENGINEERING
Let's start with the news. Engineering will have a CEO, Maximo Ibarra, who will leave Sky Italia .
“I am excited to join Engineering, the Italian champion of digital transformation and development of software solutions and proprietary platforms for the enterprise market. I will make my skills available not only as CEO, but also as an entrepreneur in partnership with the investment funds involved, to build new synergies and strengthen levels of collaboration ", commented Ibarra, immediately after the announcement made by Sky .
The manager will also partner with the shareholder funds of Engineering, Bain Capital and Neuberger Berman, thus starting an entrepreneurial path.
PANDOZY REMAINS PRESIDENT
Paolo Pandozy, historical operational guide of the Roman company of IT software and services, writes Il Sole 24 Ore Radiocor Plus is “destined for the role of president”.
THE NEW BOARD MEMBERS
Ibarra will be able to count on a 13-member board of directors, expanded thanks to the entry of Aurelio Regina, entrepreneur, partner of Egon Zehnder and at the helm of the Confindustria Energy technical group. Regina will have the task of strengthening the institutional relations of the group. Same task for Vito Cozzoli, president of Sport & Salute Spa, who joined the board of directors last year.
THE COMPANY STRUCTURE
Engineering Ingegneria Informatica is wholly owned by the vehicle Centurion Bidco Spa, owned by the private equity operators Bain Capital and NB Renaissance Partners.
All the major Italian banks, including Banca Imi / Intesa Sanpaolo, Unicredit, and the major European banks, such as Bnpp, Credit Suisse and Deutsche Bank, financed the purchase of 100% of Engineering, which took place in February 2020.
THE DIVIDEND
And Bain Capital and NB Renaissance Partners are now craving a succulent dividend, with on the Centurion it will in turn pay the half-yearly coupons to the subscribers of the high yield bond issued in the autumn for a total of 605 million.
In recent weeks, the shareholders' meeting resolved to distribute reserves of € 17 million to its shareholders.
THE NUMBERS OF 2019
The distribution of the rich dividend is made possible by a 2020 that seems to be closed on the rise and whose numbers will be presented on April 29th.
Good numbers also for 2019: net revenues amounted to 902.9 million euros, an increase of 4.1% compared to the previous year. Adjusted EBITDA stood at € 100.3 million, up 2.9%, while net profit stood at € 14 million, from € 35 million the previous year.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/engineering-ecco-subbugli-e-novita/ on Mon, 26 Apr 2021 07:58:48 +0000.