Laser, who are the funds that bought the Italian Prima Industrie
Alpha and Peninsula Capital will indirectly acquire Prima Industrie, an Italian laser systems company. All the details (also on the two private equity funds)
Two private equity funds will take over Prima Industrie, an Italian company – based in Collegno, Piedmont – which develops and produces laser systems for industrial uses. Administered by Ezio Basso and chaired by Gianfranco Carbonato, it has been listed on the Italian stock exchange since 1999.
The two private equity funds that will acquire 50.1 percent of Prima Industrie's voting rights are Alpha and Peninsula Capital. Specifically, the purchase operation is carried out by another company, Femto Technologies, whose share capital indirectly refers to the two funds.
WHAT ALPHA DOES
Alpha is a private equity firm with headquarters in Luxembourg and also offices in the Benelux (Netherlands, Belgium and Luxembourg), Germany and Italy. Invest in Alpha invests in mid-market buyouts across continental Europe: it is currently investing its seventh fund and has € 2 billion under management. Since 1990, the company has carried out more than ninety-six transactions.
The Alpha team includes several Italians such as Edoardo Lanzavecchia ( managing partner ), Pasquale Cavaliere ( director ) and Livio Zanotelli ( director ).
WHAT PENINSULA CAPITAL DOES
Peninsula Capital is a London-based company that focuses on private equity investments in the markets of Southern Europe and Latin America. Active since 2015, in 2016 it launched its first fund and since 2020 it is headed by Alessandro Boggio Torna, who previously worked for Nomura and Credit Suisse.
THE GOLDEN POWER
Femto Technologies' acquisition of 50.1 percent of Prima Industrie is subject to the golden power , the instrument that allows the government to block certain financial transactions involving strategic companies with the aim of safeguarding the national interest.
DELISTING FROM THE MILAN EXCHANGE
The plans of the two funds include the delisting (i.e. the withdrawal of the listing) of Prima Industrie from the Milan stock exchange.
MF-Milano Finanza writes that after the eventual closure of the transaction, a mandatory and full takeover bid (OPA) will be carried out on the shares of Prima Industrie, at a price of 25 euros each. The company's shares have dropped today to € 22.2. Prima Industrie's capitalization on the stock exchange is 232 million.
WHO SELLS
Prima Industrie shareholders who sell are Erste International, Gianfranco Carbonato, Franca Gagliardi, Domenico Peiretti, Davide Peiretti, dP-Cube, Joseph Lee Sou Leung, J & Lem and World Leader Limited.
Three of them – Gianfranco Carbonato, dP-Cube and World Leader Limited – will proceed to indirectly reinvest in Prima Industrie using part of the proceeds from the sale. In this way they will come to hold, indirectly and overall, 6.4 per cent of the company once the takeover bid has been made.
WHO STAYS
At the conclusion of the transaction, Gianfranco Carbonato and Domenico Peiretti will continue to hold the positions of chairman and vice-chairman of the board of directors of Prima Industrie.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/prima-industrie-acquisizione-fondi-private-equity/ on Thu, 18 Aug 2022 11:20:14 +0000.