M&A Deal Summary

BFF Bank Acquires DEPObank

On May 13, 2020, BFF Bank acquired financial services company DEPObank from Advent International, Bain Capital Private Equity and Clessidra Private Equity SGR

Acquisition Highlights
  • This is BFF Bank’s 1st transaction in the Financial Services sector.
  • This is BFF Bank’s 1st transaction in Italy.

M&A Deal Summary

Date 2020-05-13
Target DEPObank
Sector Financial Services
Buyer(s) BFF Bank
Sellers(s) Advent International
Bain Capital Private Equity
Clessidra Private Equity SGR
Deal Type Add-on Acquisition
Advisor(s) KPMG Corporate Finance (Financial)
Linklaters (Legal)

Target

DEPObank

Milan, Italy
DEPObank SpA is a specialized bank focused on providing securities services and bank payments to businesses from the domestic market, and a reference point for the entire Italian financial system. DEPObank was formed in 2018 and is based in Milan, Italy.

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Buyer(S) 1

Buyer

BFF Bank

Milan, Italy

Category Company
Founded 1985
Sector Financial Services
Employees830
Revenue 394M EUR (2024)
DESCRIPTION

BFF Bank is a provider of factoring and credit management services to companies that hold credit positions towards public administration, in particular, public health local administration entities. The company engages in the management and non-recourse sale of trade receivables due from public administrations and national healthcare systems. It provides financial and management support services to companies operating primarily in the pharmaceutical and biomedical sectors. BFF Bank was founded in 1985 and is based in Milan, Italy.


DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Italy M&A 1 of 1
Year: 2020 M&A 1 of 1

Seller(S) 3

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 189 of 236
Sector: Financial Services M&A 23 of 25
Type: Add-on Acquisition M&A Deals 70 of 87
Country: Italy M&A 5 of 5
Year: 2020 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-27 TK Elevator

Düsseldorf, Germany

TK Elevator is a global provider of elevators, escalators, and other innovative passenger transportation solutions. TK Elevator was founded in 1864 and is based in Dusseldorf, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-19 Pacvue

Los Angeles, California, United States

Pacvue is a next-gen e-commerce software and data platform that offers a suite of solutions to help merchants optimize and track marketplace performance, social performance, and other performance analytics as well as resources in the form of market insights, content, and education. Pacvue was founded in 2019 and is based in Los Angeles, California.

Buy -
SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 128 of 152
Sector: Financial Services M&A 5 of 5
Type: Add-on Acquisition M&A Deals 37 of 41
Country: Italy M&A 5 of 6
Year: 2020 M&A 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-12 TM Lewin Group

London, United Kingdom

T.M. Lewin is a British businesswear retailer, known for its Jermyn Street heritage, invention of the first button-through shirt and affordable British style. T.M. Lewin serves customers from over 95 stores in the UK and Australia and over 90 franchise stores in the Middle East, Africa, India, South East Asia, and a strong online presence. T.M. Lewin was formed in 1898 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-30 Cerevel

Cambridge, Massachusetts, United States

Cerevel is a biopharmaceutical company focused on developing drug candidates to treat disorders of the central nervous system (CNS). The company has a portfolio of pre-commercial neuroscience assets, which include three clinical-stage compounds and several pre-clinical compounds designed to target a broad range of CNS disorders including Parkinson’s, Alzheimer’s, epilepsy, schizophrenia, and addiction. Cerevel was formed in 2018 and headquartered in Cambridge, Massachusetts.

Sell -
SELLER

Clessidra Private Equity SGR

Milan, Italy

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 2.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Clessidra Private Equity is a private equity firm dedicated to investments in medium to large-sized Italian companies. The Firm looks to commit €40 to €100 million in companies valued up to €500 million. Prospective transaction situations include restructurings, take privates, family-owned buyouts, and consolidations.Clessidra Private Equity was formed in 2003 and is based in Milan, Italy.


DEAL STATS #
Overall 11 of 16
Sector: Financial Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 5 of 5
Country: Italy M&A 11 of 16
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-28 Roberto Cavalli

Milan, Italy

Roberto Cavalli is a manufacturer of apparel and accessories for men and women. Cavalli has also distributed under the “Just Cavalli” designer brand and through perfume, eyewear, jewellery and hospitality licenses.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Botter

Venezia, Italy

Botter is a privately held bottler and exporter of Italian wine. The Company exports around 98% of its production in more than 70 markets worldwide including US, Germany, UK and the Scandinavian countries. Botter mainly sells its products in the off-trade channel, both as supplier of private label and customers' brand products. Botter was founded in 1928 and is based in Venezia, Italy,

Buy -