Clessidra SGR Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Clessidra SGR has acquired 2 companies.

Clessidra SGR’s most common sectors for investment are apparel/textiles (10%) and business services (10%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (55%) and stake purchase (37%). In total, Clessidra SGR has invested in 2 different countries. Its largest (disclosed) acquisition occurred in 2015 when it acquired Istituto Centrale delle Banche Popolari Italiane for $2.4B.

In the last 3 years, Clessidra SGR has exited 3 companies. The Firm’s most common exit type is trade sale (43%). Clessidra SGR’s largest (disclosed) exit occurred in 2013 when it sold Cerved Group for $1.3B.

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M&A Summary

  • M&A Total Activity29
    • M&A Buy Activity22
    • M&A Sell Activity7
  • Total Sectors Invested 17
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 11
  • M&A Advisors 19

Clessidra SGR S.p.A.

Piazza degli Affari, 2,
Milan, 20123
Italy,
+39 02 86 95 1
www.clessidrasgr.it
info@clessidrasgr.it

Clessidra SGR S.p.A. is a private equity fund formed in 2003 dedicated to investments in Italian based companies. Clessidra targets control oriented investments in growth businesses valued between €200 and €800 million. Sectors of interest include entertainment, infrastructure, automotive, distribution, and transportation. Prospective transaction situations include restructurings, privatizations, family-owned businesses, and consolidations. Clessidra SGR S.p.A was formed in 2003 and is based in Milan, Italy.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Communications, Consumer Products, Consumer Services, Distribution, Energy Services and Equipment, Financial Services, Food, Gaming, Infrastructure, Manufacturing, Renewable Energy, Retail, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Going Private, Growth Capital, Special Situations/Distressed

Geographic Preferences: Western Europe

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 200 1,500
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.4/yr) # 20 - - 1 1 - 22
vol $4.9B $4.9B
Sell (1.0/yr) # 2 2 2 - 1 - 7
vol $1.3B $1.5B $2.8B
  29

Most Recent M&A

Company Date Value Type
Roberto Cavalli S.p.A. 2019-11-28 - Unknown
Milan, Italy · www.robertocavalli.co
L. & S. ITALIA S.R.L. 2019-06-13 - Buyout (LBO, MBO, MBI)
Brugnera, Italy · www.ls-light.com
Scrigno SPA 2018-05-02 - Buyout (LBO, MBO, MBI)
S. Ermete di Santarcangelo di Romagna, Italy · www.scrigno.net
Acetum S.p.A. 2017-09-11 - Add-on Acquisition
Cavezzo, Italy · www.acetum.it
Bitolea S.p.A 2017-08-03 - Add-on Acquisition
Landriano, Italy · www.bitolea.com
Sisal Group S.p.A 2016-05-30 1.1B EUR Secondary Buyout
Milan, Italy · www.sisal.it
Prime European Therapeuticals SpA 2016-05-05 358M USD Add-on Acquisition
Lodi, Italy · www.euticals.com
Acetum S.p.A. 2015-07-01 - Buyout (LBO, MBO, MBI)
Cavezzo, Italy · www.acetum.it
Istituto Centrale delle Banche Popolari Italiane S.p.A. 2015-06-19 2.4B EUR Buyout (LBO, MBO, MBI)
Milan, Italy · www.icbpi.it
Arredo Plast SpA 2015-05-29 - Buyout (LBO, MBO, MBI)
Ormelle , Italy · www.arredoplastgroup.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Giochi Preziosi S.p.A. 2008-04-02 FÁBRICAS AGRUPADAS DE MUÑECAS DE ONIL S.A. 2019-05-29 2
Milano, Italy · www.giochipreziosi.it Madrid, Spain · www.famosa.es
Istituto Centrale delle Banche Popolari Italiane S.p.A. 2015-06-19 Intesa Sanpaolo Card d.o.o. 2016-12-15 2
Milan, Italy · www.icbpi.it Zagreb, Croatia · www.intesasanpaolocard.com
Istituto Centrale delle Banche Popolari Italiane S.p.A. 2015-06-19 Setefi S.p.A. 2016-12-15 1
Milan, Italy · www.icbpi.it Milan, Oklahoma · www.setefi.it
Giochi Preziosi S.p.A. 2008-04-02 Bimbo Store Srl 2015-02-20 1
Milano, Italy · www.giochipreziosi.it Modena, Italy · www.bimbostore.com

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 2 (14%) 2.4B (74%) 2 (9%) 2.4B (50%)
Business Services 1 (7%) - 2 (9%) 620M (13%)
Apparel/Textiles 1 (7%) - 2 (9%) -
Food 1 (7%) - 2 (9%) -
Manufacturing 2 (14%) - 2 (9%) -
Gaming - - 1 (5%) 1.0B (21%)
Consumer Products 1 (7%) 834M (26%) 1 (5%) 834M (17%)
Automotive 1 (7%) - 1 (5%) -
Building Materials 1 (7%) - 1 (5%) -
Chemicals - - 1 (5%) -
Communications 1 (7%) - 1 (5%) -
Electrical Equipment 1 (7%) - 1 (5%) -
Energy Services and Equipment - - 1 (5%) -
Furniture 1 (7%) - 1 (5%) -
Infrastructure - - 1 (5%) -
Life Science - - 1 (5%) -
Renewable Energy 1 (7%) - 1 (5%) -
Total 14 $3.3B 22 $4.9B

Acquisitions By Geo

State/Country Current # Value All-time # Value
Italy 13 (93%) 3.3B (100%) 21 (95%) 4.9B (100%)
United Kingdom 1 (7%) - 1 (5%) -
Domestic 13 (93%) 3.3B (100%) 21 (95%) 4.9B (100%)
Cross-border 1 (7%) - 1 (5%) -
Total 14 $3.3B 22 $4.9B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 7 (50%) 2.4B (74%) 12 (55%) 3.0B (62%)
Stake Purchase 6 (43%) - 8 (36%) -
Secondary Buyout 1 (7%) 834M (26%) 2 (9%) 1.8B (38%)
Total 14 $3.3B 22 $4.9B

Exits by Deal Type

Type Total # Value
Secondary Sale 2 (29%) 2.4B (87%)
Trade Sale - Public Company 2 (29%) 358M (13%)
Trade Sale 2 (29%) -
Unknown 1 (14%) -
Total 7 $2.8B

Top M&A Advisors

Financial Deals
HSBC Global Banking and Markets
2
Rothschild Global Advisory
1
PwC Corporate Finance LLC
1
Legal Deals
Gattai, Minoli, Agostinelli & Partners
3
Linklaters LLP
2
Chiomenti Studio Legale
2

Deal Values

buy # Total
> $1B 2 $3.4B
$100M to $1B 2 $1.5B
TOTAL $4.9B
Largest Istituto Centrale delle Banche Popolari Italiane S.p.A.
$2.4B (2015-06-19)
sell # Total
> $1B 2 $2.4B
$100M to $1B 1 $358M
TOTAL $2.8B
Largest Cerved Group SpA
$1.3B (2013-01-02)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
2 100%
Exited to
PE Firm(s)
40%
2 40%
Strategic(s)
60%
3 60%

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