Client: Navy Group
Transaction: M&A
Date: January 2015
Sector: Fashion
Mandate:
Navy Group was founded in 1961 as a family-owned business that manufactured socks. Over time, it expanded its product portfolio to include casual and sportswear, becoming a large factory. By 2015, its revenues had reached around €50m.
The sell-side tax and financial adviser for the company was Massimo Bertoni.
Client: Xenon Pe
Transaction: M&A
Date: December 2017
Sector: Industrial
Mandate:
XENON PE, a private equity fund dedicated to industrial business investments, signed a binding agreement with 2MP.
2MP, based in Piacenza (Italy), is active in manufacturing hydraulic components.
Massimo Bertoni and Marco Pancaldi acted as buy-side financial advisors of XENON PE.
Client: Elenos
Transaction: M&A
Date: 2015-2018
Sector: Broadcast
Mandate:
Elenos, an Italian broadcast company, purchased Itelco and Broadcast Electronic USA.
Elenos, based in Ferrara (Italy), is a world leader in manufacturing innovative, state-of-the-art FM TV transmitters; in 2018, revenues reached c. €30M.
Massimo Bertoni and Marco Pancaldi acted as buy-side advisors (financial due diligence and structure) of Elenos Group.
Client: Xenon Pe
Transaction: M&A
Date: March 2018
Sector: Industrial
Mandate:
Xenon PE, a private equity fund dedicated to investments in industrial businesses, has signed a binding agreement with Tecnopool Spa.
Tecnopool Spa, based in Padova (Italy), is active in producing, deep-freezing, cooling, pasteurising, and processing food processing equipment; in 2018, Revenues were around €100m.
Massimo Bertoni acts as the buy-side financial advisor of Xenon PE.
Client: Xenon Pe
Transaction: M&A
Date: March 2018
Sector: Industrial,
Mandate:
Xenon Pe, a private equity fund dedicated to investments in industrial businesses, has signed a binding agreement with MIMAC.
MIMAC Spa, based in Piovene Rocchete, Vicenza (Italy), is active in producing, deep-freezing, cooling, pasteurizing, and proofing food processing equipment; in 2018, Revenues were around €50m.
Massimo Bertoni acted as the buy-side financial advisor of XENON Pe.
Client: Xenon Pe
Transaction: M&A
Date: March 2018
Sector: Industrial
Mandate:
Xenon Pe, a private equity fund dedicated to investments in industrial businesses, has signed a binding agreement with Logiudice.
Lodigudice Srl, based in Arcole, Verona (Italy), is active in designing and manufacturing deck ovens, rotary ovens, and spiral mixers for bakeries and pastry shops, both artisan and semi-industrial. In 2018, revenues were around €50m.
Massimo Bertoni acted as buy-side financial advisor of Xenon Pe.
Client: Alcedo SGR
Transaction: M&A
Date: July 2019
SECTOR: Industrial,
Mandate:
Alcedo Sgr, a private equity fund dedicated to investments in industrial businesses, has signed a binding agreement with Eurochef Srl.
Eurochef Srl, based in Verona (Italy), actively produces ready meals; in 2018, revenues were around €50m.
Massimo Bertoni acted as Alcedo Sgr's buy-side financial advisor.
Client: CMV SRL
Transaction: M&A
Date: July 2019
Sector: VET
Mandate:
Anicura, a private vet industry to investments in VET businesses, has signed a binding agreement with CMV Srl.
Based in Varese (Italy), CMV Srl is active in the veterinary sector; in 2019, revenues were around €3m.
Massimo Bertoni and Marco Pancaldi acted as sell-side tax and financial advisors of CMV Srl and designed the deal tax structure.
CLIENT: TRITON – ALL4LABELS
TRANSACTION: M&A
DATE: 2020
SECTOR: flexible packaging
Mandate: Advisory buy-side
ALL4LABELS, package German company, purchased GPS Group, Italian leader in packages solution with revenues around €150m.
ALL4LABELS, based in Germany, is a world leader in the flexible packaging industry; the group is owned by Triton Private Equity; in 2019 ALL4LABELS revenues were around €400m.
Massimo Bertoni and Luigi Attardo Parinello acted as buy-side advisors of All4LABELS AND TRITON.
Client: Aksia Group SGR
Transaction: M&A
Date: July 2019
Sector: Industrial/Food
Mandate:
Aksia Group SGR, a private equity fund dedicated to investments in industrial businesses, has signed a binding agreement with VALPIZZA.
VALPIZZA, based in Valsamoggia, Bologna (Italy), actively produces and distributes frozen pizzas and pizza bases; in 2018, revenues were around €50m. In 2018, revenues were around €50m.
Massimo Bertoni and Marco Pancaldi acted as buy-side financial advisors of Aksia Group SGR.
Client: VET Partners
Transaction: M&A
Date: 2020-2023
Sector: Vet
Mandate: Financial and Tax Due Diligence
Vet Partners Italy, a BC Partners Italian veichel dedicated to the Vet sector, has purchased several veterinary clinics in Italy since 2020.
Studio MBA (Massimo Bertoni, Marco Pancaldi, Matteo Magni, Italo Iaboni) acted as buy-side advisors (Structure, Financial and Tax Due Diligence) of Vet Partners Italy.
Client: Navy Group
Transaction: M&A
Date: May 2021
Sector: Fashion
Mandate:
Founded in 1961, Navy Group developed a family-owned business company manufacturing socks.
This family business became, in a short time, a great factory, enlarging the product portfolio into casual and sportive apparel and sold in 2015 to Consilium.
In 2020, Massimo Bertoni and Marco Pancaldi acted as sell-side tax and financial advisors to accompany the Consilium exit.
Client: Hyle Capital
Transaction: M&A
Date: December 2021
Sector: Industrial, Food & Beverage
Mandate:
Hyle Capital SGR, a private equity fund dedicated to investments in industrial businesses, has signed a binding agreement with Contri Vini SpA, based in Cazzano di Tramigna VR (Italy), is active in the distribution of Italian wine; in 2021, revenues were around €100m.
Massimo Bertoni and Ermanno Restano acted as buy-side financial advisors of Hyle Capital SGR.
Client: Okaidi– Id Group (Roubaix – France)
Transaction: M&A
Date: Dec-2021
Sector: Toys
Mandate: Advisory, Financial and Tax Due Diligence
OKAIDI Italia, the Italian Id Group subsidiary, has purchased minority shares (49%) of Città del Sole Srl and Selegiochi Srl, a leading Italian toys retailer.
Studio MBA (Massimo Bertoni and Marco Pancaldi) acted as buy-side advisors of Id Group.
Client: Aksia Group
Transaction: M&A
Date: October 2020
Sector: Food
Mandate:
Aksia Group SGR, a private equity fund dedicated to investments in industrial businesses, on behalf of VALPIZZA, has signed a binding agreement with Magic Pizza.
MEGICPIZZA, based in Gorizia (Italy), actively produces and distributes fresh pizzas and pizza bases; in 2020, revenues were around €10m.
Massimo Bertoni and Marco Pancaldi acted as buy-side financial advisors of AKSIA GROUP SGR and VALPIZZA.
Client: Riverside Inc
Transaction: M&A
Date: May 2022
Sector: Food
Mandate:
Riverside Inc., a US private equity fund dedicated to investments in industrial business, has signed a binding agreement with Il Pastaio di Brescia on behalf of Riverside Europea Srl.
Il Pastaio di Brescia Srl, based in Brescia (Italy), is actively producing and distributing fresh pizzas and pizza bases; in 2020, revenues were around €55m.
Massimo Bertoni and Marco Pancaldi acted as buy-side financial advisors for Riverside Inc.
Client: STOMMPY Spa
Transaction: M&A, Vendor Due diligence, Tax Structure
Date: JULY 2022
Sector: Safety
Mandate:
STOMMPY Spa, based in Rubiera (Italy), is active in the production and distribution of safety barriers; in 2022, revenues were around €11m
A family office holding dedicated to investments in industrial businesses, on behalf of ONEQUTIY, has signed a binding agreement with New Horizon Holding (STOMMPY owner) to purchase 100% of shares.
Massimo Bertoni and Marco Pancaldi acted as sell-side financial advisors of New Horizon Holding and STOMMPY.
Client: Emilia Foods Srl
Transaction: M&A, Due Diligence
Date: July 2022
Sector: Food
Mandate:
Emilia Foods Srl, based in Modena (Italy), actively produces and distributes ready meals, pizzas and frozen food; in 2022, revenues were around €40m.
Massimo Bertoni and Marco Pancaldi acted as buy-side financial advisors of Emilia Foods to purchase the 100% quotas of Gusti Toscani.
Client: Riverside Inc
Transaction: M&A
Date: November 2022
Sector: Frozen Food
Mandate:
Riverside Inc, a US private equity fund dedicated to investments in industrial businesses, on behalf of Riverside Europe, has signed a binding agreement with Canuti Tradizione Italiana Srl in Rimini (Italy), is active in the production and distribution of fresh pizzas and pizza bases; in 2022 revenues were around €15m.
Massimo Bertoni acted as Riverside Inc.'s buy-side financial advisor.
Client: Valsa Group Spa
Transaction: M&A,
Date: May 2023
Sector: Food
Mandate:
Valsa Group SpA, based in Bologna, Piacenza, Bari and Gorizia (Italy), is active in
the production and distribution of pizzas, focaccia and other bakery products, fresh
and frozen; in 2022 revenues were around €90m.
Massimo Bertoni acted as buy-side financial advisor of Valsa Group to purchase
the 100% quotas of Menchetti Frozen Srl, based in Arezzo.
Client: Roberto Nuti SpA
Transaction: M&A
Date: February 2024
Sector: Aftermarket spare parts
Mandate: sell-side Advisor
Roberto Nuti Group, based in Bologna (Italy), is active in producing and distributing Shock absorbers and air pumps for the trucks in the aftermarket channel; in 2022, consolidated revenues were around €25m.
TVS Group, an Indian multinational conglomerate with its principal headquarters in Madurai and international headquarters in Chennai, has signed a binding agreement with the Roberto Nuti SpA shareholders to purchase the 100% shares.
Massimo Bertoni and Marco Pancaldi acted as the sell-side structure financial advisors of Roberto Nuti Group.
Client: ABK Group Industrie Ceramiche Spa
Transaction: M&A
Date: September 2023
Sector: Ceramic Tiles Industry
Mandate: sell-side Advisor
ABK, based in Modena (Italy), is active in the production and distribution of Ceramic Tiles; in 2022, revenues were around €200m
Cleon Capital is a family office dedicated to investments in industrial businesses. On behalf of NewCo, it has signed a binding agreement with the ABK shareholders to purchase the 28% shares.
Massimo Bertoni acted as the sell-side structure financial advisor of ABK Group.
CLIENT: GTO
TRANSACTION: M&A
DATE: September 2024
SECTOR: Sport & Luxury Cars
Mandate: Advisory
VAMOS Holding has purchased GTO Motors, Ferrari, and luxury car dealers in northern Italy. In 2023, Revenues were around €10m.
Studio MBA (Massimo Bertoni and Marco Pancaldi) acted as buy-side advisors (Advisory, Structure, Negotiation, Financial and Tax Due Diligence) of VAMOS Holding to purchase the majority of GTO Motors.
CLIENT : PIZZAMI
TRANSACTION: M&A
DATE: December 2024
SECTOR: Industrial, Food & Beverage
Mandate:
Di Marco Corrado Srl has signed a binding agreement with PIZZAMI (Galati Srl), a high-quality gluten-free producer based in Parma (Italy); Pizzami is active in the worldwide distribution of gluten-free pizza & pins, and in 2024, revenues were around €9m.
Studio MBA (Massimo Bertoni and Marco Pancaldi) acted as the sell-side financial advisor of PIZZAMI.