Firms To Watch: Private equity

Studio Legale Cappelli RCCD is home to a rapidly expanding transactional department, and excels in acquisition, investment, spin-offs, merger and sale of business deals.
EY TAX & LAW ITALY continues to grow its private equity department under the leadership of Renato Giallombardo, who joined from Gianni & Origoni in 2021; he and his team are proficient in early-stage investment, follow-on funding and development capital deals, among others.      
Leveraging over 30 years’ worth of experience in the M&A field, Giliberti Triscornia e Associati is adept at all stages of major investment and divestment transactions, from deal structuring and negotiations through to financing and incentive plans.

Private equity in Italy

BonelliErede

BonelliErede delivers a comprehensive private equity offering, operating at the forefront of high-end fund formation, regulatory advice, acquisition, leveraged finance transaction reorganisation, exit, due diligence and cross-border incentive scheme matters. Eliana Catalano, who is highly revered for both domestic and multi-jurisdictional deals, leads the practice which acts for traditional, infrastructure, special situation, investment and mezzanine funds in addition to portfolio companies and investment banks; she is supported by Giulia Bianchi Frangipane, a retail, energy, insurance, transport and financial services sector specialist, as well as Umberto Nicodano, who has strong ties to the US market and is especially accomplished in the fashion, luxury, automotive and manufacturing industries. Augusto Praloran is a key port of call for private equity players involved in the food and catering, equipment and industrial machinery fields. At associate level, Francesca Ricceri provides valuable input on cross-border deals, leveraging her prior experience of practising in London. The firm has a presence in Brussels, Cairo, London, Dubai and Addis Abada, in addition to Milan and Rome.

Practice head(s):

Eliana Catalano


Other key lawyers:

Giulia Bianchi Frangipane; Umberto Nicodano; Augusto Praloran; Stefano Nanni Costa; Carlo Montagna; Francesca Ricceri


Testimonials

‘Very responsive and attentive.’

‘Carlo Montagna has a very clear and pragmatic view of risk.’

 

Key clients

Advent International


Silverlake


Space Capital Club


Landoll


Astorg Partners


Corsair Capital LLC


Tikehau Investments


Investindustrial


Work highlights


  • Assisted the Australian fund IFM in the operation by which San Quirico and IFM Investors formed a strategic, long-term partnership in respect of ERG S.p.A
  • Assistence to Advent International in the acquisition of Irca SpA, Italian provider of bakery and pastry services, from Carlyle Group.
  • Assistance to the client, a US-based private equity firm investing in technology-related businesses, in entering into a definitive agreement to acquire a majority stake in Facile.it from EQT VIII fund and Oakley Capital.

Chiomenti

Chiomenti's team excels in all-manner of relevant matters, from LBOs, MBOs, leveraged finance and regulatory matters through to antitrust, FDI, exits and fund formation. Practice head Franco Agopyan  and Carlo Croff have overseen countless blockbuster deals throughout their careers, and Massimiliano Nitti, who previously practised in New York and Paris, is a standout name for public and private M&A, joint ventures and strategic investments. Edoardo Canetta Rossi Palermo is a media, technology, construction and fashion sector expert and Luigi Vaccaro  is especially well-versed in the banking and insurance fields. Antonio Sascaro is among the other star partners, leveraging a keen eye for TMT, sports, entertainment, real estate and digital economy-related deals. Beyond partner level, managing counsel Giovanni Colantuono has played a pivotal role in several of the group’s recent headline deals. In February 2023, the highly regarded Elena Busson joined from BonelliErede.

Practice head(s):

Franco Agopyan


Other key lawyers:

Edoardo Canetta Rossi Palermo; Antonio Sascaro; Luigi Vaccaro; Carlo Croff; Massimiliano Nitti; Giovanni Colantuono; Elena Busson


Key clients

SK Capital Partners


One Equity Partners


Ontario Teachers’ Pension Plan


GIC


BC Partners H.I.G.


Capvis


Cerberus


Charterhouse


CVC


Lonestar


Lion Capital


Investindustrial


Cinven


NB Renaissance


Clessidra


F2i SGR S.p.A.


FSI Sgr


Searchlight


OpCapita


QuattroR


Pitney Bowes Inc.


IGI SGR S.p.A.


Apollo


Aliante Partners


KPS


Hourglass


Kohlberg Kravis Roberts & Co Partners Llp


Blackrock


Ion Investment Group


Portobello Capital


Stirling Square Capital Partners


CDP Venture Capital SGR S.p.A.


NUO Capital


Alpha Private Equity


Nextalia SGR


Work highlights


  • Advising Investindustrial Investment Holding S.À R.L. on the sale to Black Diamond Capital Management LLC of the equity interest in Polynt-Reichhold.
  • Advising Stirling Square in the context of its investment (in partnership with the German fund DBAG) in Itelyum.
  • Advising Investindustrial in relation to the sale of Global Healthcare Services’ entire stake in Lifebrain to Cerba HealthCare, a player in outpatient diagnostics.

Gianni & Origoni

Gianni & Origoni leverages a broad national network, complemented by sites in New York, Brussels, Abu Dhabi, London, Shanghai and Hong Kong, to support on domestic and multi-jurisdictional transactions alike. The team is particularly accomplished in complex exit or governance affairs and has expertise in the retail, fashion and luxury, insurance, health, fintech, pharma and infrastructure fields. Founding partner Francesco Gianni is dual-qualified as a member of the New York Bar and is regarded for his public M&A and public-to-private M&A prowess; he co-leads the team alongside Raimondo Premonte, Stefano Bucci, who is often instructed by funds and companies targeting insurance and banking entities, and Gianluca Ghersini whose workload frequently includes deals with a cross-border component. They are supported by Gabriele Ramponi, a food and beverage and energy-infrastructure specialist, and Aldo Turella, an associate who is developing a reputation for acquisitions, minority and majority investments, buy-outs and restructurings.

Other key lawyers:

Gabriele Ramponi; Aldo Turella


Testimonials

‘Very well connected locally with all stakeholders (public institutions, banks, investors, corporates).’

‘Proactive in deal origination, suggesting ideas and proprietary angles.’

Key clients

Albourne Partners Ltd


Alcedo


Ambienta SGR


Apax Partners


Aperion Management


Ardian Buy Out


Ardian Expansion


Argo Partners


Armònia SGR


Arsenal Capital Management LP


Bain Capital


BlackRock


Blackstone


BlueGem Capital Partners


Bridgepoint


Cassa Depositi e Prestiti


Chequers Capital


CDP Equity S.p.A.


CDP Venture


Cinven Partners LP


DeA Capital Alternative Funds SGR


EOS Investment


EQT Partners


Ergon Capital Partners


F2i SGR S.p.A.


FSI SGR SPA


Fondo Italiano d’investimento


G Square Healthcare Private Equity LLP


Groupe Bruxelles Lambert


Kohlberg Kravis Roberts


ICG Intermediate Capital Group


Lion Capital


Peninsula Capital


Sixth Street


Thoma Bravo


Three Hills Capital Partners


Triton


Value Italy


Latham & Watkins LLP

Global firm Latham & Watkins LLP is active in a wealth of international and domestic transactions, acting for global private equity houses, Italian corporates and multinational companies. Stefano Sciolla, managing partner of the Milan office, is widely considered as one of the pioneering lawyers of Italy’s private equity market; he jointly fronts the practice with Giorgia Lugli, who supports at every stage of the investment lifecycle and has strength closing deals in highly regulated industries. Cataldo Piccarreta is especially well-regarded among UK private equity firms, having previously practised in London, and Giovanni Sandicchi provides the group with both transactional and regulatory/contract law capabilities. The other key partner is Giancarlo D’Ambrosio, who is noted for his in-depth knowledge of the sports, entertainment, media and fashion sectors.

Practice head(s):

Stefano Sciolla; Giorgia Lugli


Other key lawyers:

Cataldo Piccarreta; Giovanni Sandicchi; Giancarlo D’Ambrosio


PedersoliGattai

PedersoliGattai is geared to handle the corporate, finance and tax components of private equity deals, acting on everything from venture capital transactions through to mid-size and big-ticket mandates. The practice is home to Bruno Gattai, who is considered an authority in the space, and Stefano Catenacci, who hones his focus on small- and mid-cap transactions, domestic and cross-border alike; the duo co-lead the team alongside Gerardo Gabrielli, who is a key port of call for several major international private equity firms. Federico Bal is forging a leading reputation among funds, family-owned businesses and portfolio companies. In addition to his prolific oversight of M&A deals, Alessandro Marena is also noted for his prowess in the establishment of investment funds and companies; he is supported by Ascanio Cibrario, who acts across M&A, financing and minority investment deals and has strength handling transactions related to aviation and aerospace, and Carlo Re, who hones his attention on the automotive, publishing and financial services industries. Andrea Faoro and Luca Saraceni are other key names.

Practice head(s):

Bruno Gattai; Stefano Catenacci; Gerardo Gabrielli; Alessandro Marena


Other key lawyers:

Federico Bal; Ascanio Cibrario; Andrea Faoro; Luca Saraceni; Antonio Pedersoli; Carlo Re; Luca Rossi Provesi


Testimonials

‘The team is always competent, up-to-date and available for any request, even on short notice. All teams from different departments/practices work together as one team.’

‘Pedersoli’s individuals stands out for their passion for work and competence. Carlo Re and the team really added value to our project.’

‘Carlo Re’s technical expertise and legal knowledge makes the difference in the deal success.’

‘Pedersoli consistently provides outstanding and quality work and advice, even under very challenging or urgent circumstances. They have one of the premier private equity practices in Italy. Luca Rossi Provesi and the team are of quality and we value their responsiveness and availability, being able to get done what we need on short notice.’

‘A strong Italian practice with deep knowledge of the market, outstanding engagement. They are always very proactive and efficient in delivering their work. Senior partners and partners are always available and on top of the dossiers’

Key clients

CVC Capital Partners


Bain Capital


Intermediate Capital Group (ICG)


Investcorp


Clessidra


Tikehau


Ambienta


Green Arrow Capital


FSI SGR S.p.A.


21 Investimenti SGR SPA


Ardian


PM & Partners SGR


Aksia


DBAG


Allen & Overy - Studio Legale Associato

An international firm with an expansive footprint, Allen & Overy - Studio Legale Associato covers the full array of private equity transactions, including buyouts, take privates, acquisitions, exit strategies and co-investments. The practice, which handles a mixture of local and international deals, is particularly proficient in transactions with a finance or capital markets component, and is co-headed by Giovanni Gazzaniga, Paolo Ghiglione and Paolo Nastasi.


Practice head(s):

Giovanni Gazzaniga; Paolo Ghiglione; Paolo Nastasi


Other key lawyers:

Antonio Ferri


Testimonials

‘Ability to understand clients’ request and quickly react.’

‘Ability to listen and exceptional skills to solve non common issues.’

‘Very supportive, strong commercial judgement.’

Key clients

Alantra EQMC Asset Management


Apollo Global Management


Brookfield


CVC Capital Partners


EQT


Freemont Capital


H.I.G. Capital


Ibla Capital


Intermediate Capital Group (ICG)


One Equity Partners


Rivean Capital


MIR Capital


Starwood Capital


The Riverside Company


Work highlights


  • Advised Apollo Global Management in relation to the acquisition of an Italian-Spanish stock exchange-listed industrial company called Reno De Medici.
  • Advised The Riverside Company, the private equity firm investing in small to medium companies, on two acquisitions in the very active Italian food sector.
  • Advised the management and the founders of Business Integration Partners (BIP), a major Italian-headquartered multinational consulting firm which is majority owned by private equity firm Apax Partners, on the sale of BIP to the private equity fund CVC Capital Partners.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton is a US-headquartered firm with a broad international reach; its teams in Rome and Milan are relied upon by private equity, infrastructure and sovereign wealth funds for all-manner of transactions, including buyouts, divestitures, consortium deals, co-investments and minority investments. Roberto Bonsignore’s experience of practising in Brussels, New York and Philadelphia makes him a natural choice for cross-border deals and he is ably supported by senior attorney Gerolamo Da Passano. Key sectors of focus include energy, telecoms, technology, media, transport, pharma, financial institutions and fashion.

Other key lawyers:

Gerolamo Da Passano; Roberto Bonsignore; Giuseppe Scassellati-Sforzolini; Matteo Montanaro; David Singer


Key clients

Allianz Capital Partners


APG Asset Management


Gamenet Group now Lottomatica S.p.A., an Apollo portfolio company


Asterion Industrial Partners


Bain Capital Credit


Blackstone


Brookfield Investment Partners


Cerberus


DIF


EDF Invest


F2i


Global Infrastructure Partners


Intermediate Capital Group


KKR


Onex


Ontario Teachers Pension Plan


Peninsula Capital


Silk Road Fund


Sixth Street


TPG


Warburg Pincus


Work highlights


  • Advised F2i on the €1.2 billion acquisition of Ital Gas Storage (IGS) from Morgan Stanley Infrastructure and Whysol Investments.
  • Advised Asterion Industrial Partners on the acquisition and take private of Retelit S.p.A. and the subsequent acquisition of a controlling interest in Irideos from F2i.
  • Advised KKR in connection with its possible public offer for the acquisition of control over Telecom Italia.

Clifford Chance

Clifford Chance's team operates throughout the entire investment lifecycle, acting for private equity houses, asset managers and direct lenders in addition to specialised debt, hedge, real estate, pension and sovereign wealth funds. Practice head Claudio Cerabolini leverages over 20 years’ experience in overseeing buy-out, public-to-private, growth capital, merger and joint venture transactions. Filippo Isacco is also a key name on the transactional front and is distinctly dual-qualified as both a lawyer and chartered accountant.

Practice head(s):

Claudio Cerabolini


Other key lawyers:

Filippo Isacco; Umberto Penco Salvi; Paolo Sersale


Key clients

Ardian


Athora Holding Ltd.


Macquarie Infrastructure and Real Assets


Cassa Depositi e Prestiti


CVC Capital Partners


DWS – Deutsche Asset & Wealth Management


EQT Infrastructure


F2i


Permira


Work highlights


  • Advised EQT Infrastructure in the disposal, together with GETEC Energie Holding, of its respective stake in G+E GETEC Holding GmbH, to Infrastructure Investments Fund, which is managed by JP Morgan Asset Management.
  • Assisted the consortium set up by the Italian infrastructure fund F2i and the international fund DWS in the signing of the agreements aimed at the acquisition, from the private equity fund Permira, of Althea group, a pan-European leader in integrated services of biomedical technologies.
  • Advised Infrastructure Investment Fund, which is managed by JP Morgan Asset Management, on the acquisition of control and take private of Falk Renewables, an international pure play company working in the field of renewables, listed on the STAR segment of the Milan Stock Exchange.

Gatti Pavesi Bianchi Ludovici

Active in both the large- and middle-market, Gatti Pavesi Bianchi Ludovici handles a number of LBO, MBO and buy-in deals, among other transactions, directing particular emphasis towards the healthcare, technology, financial, business services, manufacturing and consumer fields. Gianni Martoglia, who leads the practice, serves a broad range of players including corporates, financial institutions and funds, operating alongside Carlo Pavesi, who is an M&A, demerger and debt restructuring expert. Gianpaolo Scandone has knowledge of investments within the real estate sector.

Practice head(s):

Gianni Martoglia


Other key lawyers:

Carlo Pavesi; Gianpaolo Scandone; Andrea Giardino; Giuseppe Toia;


Testimonials

‘The firm is one of the most trustable in this sector in light of the competence of people hired.’

‘I had the opportunity to work with Gianpaolo Scandone and the team and they completely satisfied my expectations in terms of timeliness of feedbacks, technical competence and negotiation skills. They concretely made the deal possible.’

‘The long-lasting relationship with our investment team strategies enables Studio Gatti to understand immediately our needs and principles in terms of governance, exit, guarantees, banking solutions. Thus, they negotiate the best and most suitable legal solution on our behalf with the counterparts also without our preliminary inputs. Moreover, the pricing policy or hourly rates are reasonable. The best money for value option currently in place’

‘Mr. Gianni Martoglia stands out for his terrific knowledge of the private equity players and deals in Italy, his relationship network (also outside Italy) and his constant presence and supervision on key meeting and materials. His availability and presence is exceptional’

Key clients

Ambienta SGR


Armonia SGR


Azimut Libera Impresa


Bain Capital


B Group S.p.A.


Charme Capital Partners


Clessidra SGR


Eulero Capital


Europe Capital Partners VI SCA


Fondo Italiano d’investimento


NB Renaissance Partners


The Equity Club


Work highlights


  • Advised NB Renaissance Partners which co-invests along with the US-based private equity firm Bain Capital, on the management buyout of Inetum SA, the French software services provider, from Mannai Corp QPSC.
  • Acted for NB Renaissance Partners Holdings S.à r.l. and Chequers Partenaires S.A., together with the management team of the group headed by Biolchim S.p.A., on the binding agreements for the sale, to U.S. industrial operator J.M. Huber, of the entire share capital of Galileo Quattro S.à r.l., a company that controls Biolchim S.p.A. and the related group.
  • Acted for Nextalia alongside Bain Capital LP on the acquisition of Deltatre SpA, the Italy-based sports related digital services provider from Bruin Sports Capital LLC.

Legance - Avvocati Associati

Legance - Avvocati Associati fields a team of lawyers well-equipped to support private equity and sovereign wealth funds, corporations and financial conglomerates involved in a wealth of big-ticket transactions. The practice, which is also noted for its fund formation work, is distinctly well-versed in the sports and digital payments sectors, among others, and is home to Filippo Troisi, one of the market’s leading names for M&A, divestitures, equity offerings and joint ventures. Alberto Giampieri is likewise reputed as a stellar dealmaker, acting on all-manner of deals, including spin-offs, for multinationals, investment banks and global financial institutions.

Practice head(s):

 


 


Other key lawyers:

Filippo Troisi; Alberto Giampieri; Piero Venturini; Marco Gubitosi; Andrea Botti; Marco Sagliocca; Bruno Bartocci


Testimonials

‘Good team’

‘I worked with Bruno Bartocci. He has a wealth of experience which is very useful.’

Key clients

Advent International


Apax Partners


Apollo Global Management


Ares Life Sciences


Armònia SGR


Bain Capital


Blackstone


Bridgepoint


Cabot Square Capital


CDP Equity S.p.A


Cale Street Partners


Canson Capital Partners


CapVest


Cassa Depositi e Prestiti


Centerbridge


Change Capital Partners


Charme Capital Partners SGR


Clessidra


Credem Private Equity SGR


CVC Capital Partners


DWS


Entangled Capital SGR


European Investment Bank


European Investment Fund


F2i SGR


First Reserve


Fondo Italiano d’Investimento SGR


Fortress Investment Group


GIC Private Limited


Green Arrow Capital SGR


H.I.G.


Invitalia


IPI Partners


Lone Star


Made in Italy Fund (Quadrivio & Pambianco)


Mandarin Capital Partners


Neuberger Berman


Oaktree Capital


Óskare Capital Fund


Partners Group


Permira


ProA Capital


Progressio SGR


RedBird Capital Partners Management LLC


Tikehau Investment Management


Varde


York Capital Management


Work highlights


  • Assistance to Blackstone in the launch, with Edizione, of a voluntary tender offer for the shares of Atlantia, a company listed on Euronext Milan operating in the motorway and airport infrastructure area.
  • Assistance to CDP Equity S.p.A. in the context of the exit of Enel from the shareholding structure of Open Fiber, through the sale of 40% of the share capital to Macquarie Asset Management and the remaining 10% to CDP Equity, which increased its stake to 60%.
  • Assistance to CVC Capital Partners in the acquisition of 100% of Multiversity, the owner of Italy’s largest online university, Universitá Telematica Pegaso, as well as Mercatorum University.

White & Case (Europe) LLP

Leveraging its far-reaching international network, White & Case (Europe) LLP supports private equity funds and financial sponsors on a wealth of deals, including inbound investments, and is also adept in add-on acquisition and growth strategy support. The practice is distinctly geared to provide on-site Italian, English and New York law capabilities and is home to Leonardo Graffi, a lawyer especially well-regarded for his public, private and cross-border M&A capabilities. A further name of prominence is Alessandro Seganfreddo, who has expertise handling deals in the financial services, retail, consumer products, transport, TMT and pharmaceutical sectors.

Practice head(s):

Ferigo Foscari; Leonardo Graffi; Michael Immordino; Alessandro Seganfreddo


Key clients

Ambienta SGR


Antin Infrastructure Partners


Arjun Infrastructure Partners


BC Partners


BlackRock Investment Management


Blackstone Tactical Opportunities Advisors


Capvis Equity V


CDP Venture Capital


Centerbridge


CEE Equity Partners


Cobepa


CVC Capital Partners


Elliott Capital


First State Investments


Fortress Investment Group


FSI SGR


Global Infrastructure Partners


Goldman Sachs International


IK Investment Partners


Infracapital


InfraVia Capital Partners


LionRock Capital


Macquarie Asset Management


Muzinich


Neuberger Berman


Oaktree


Peninsula Capital


PFH Palladio Holding


ProA Capital


Starwood Capital Group


Summit Partners


Tengram Capital Partners


Trilantic Capital Partners


Verlinvest S.A.


VGO Capital Partners


White Bridge Investments


Work highlights


  • Advised international investment firm BC Partners LLP on its co-controlling investment, together with US global private investment firm Bain Capital Private Equity, in Fedrigoni S.p.A.
  • Advised the independent UK investment firm Peninsula Capital S.a.r.l. in connection with its acquisition of Isem S.r.l..
  • Advised Macquarie Asset Management, in a consortium with British Columbia Investment Management Corporation (BCI) and MEAG Munich Ergo Assetmanagement GmbH (MEAG), in connection with its €2.5 billion EV acquisition of Reden Solar from InfraVia Capital Partners and Eurazeo.

ADVANT Nctm

ADVANT Nctm handles M&A, corporate finance, divestment, investments and financing operations, in addition to the establishment of investment funds. Matteo Trapani oversees the practice which is especially active in the ICT, telecoms, pharmaceutical, healthcare, manufacturing and energy sectors. Paolo Montironi is sought out for LBOs, and Pietro Zanoni is a key port of call for deals in the food, fashion and healthcare industries. Lucia Corradi made partner in May 2022 and counts a number of domestic and foreign investment funds as clients.

 

Practice head(s):

Matteo Trapani


Other key lawyers:

Paolo Montironi; Pietro Zanoni; Lucia Corradi


Testimonials

‘Key strength is the high average seniority of the team. Proactive.’

‘Pietro Zanoni stands out for its solution-based approach. His approach to deal making is always oriented to proposing commercially viable solutions to clients instead of merely raising legal concerns. Highly skilled commercially vs. avg in the market.’

‘Strong commercial abilities in negotiations. High technological effort to standardise clauses in legal documentation.’

‘Matteo Trapani proves to have deep knowledge on private equity customers’ needs, giving a significant value added in negotiations.’

‘Matteo Trapani is of high standing, efficient and pragmatic.’

‘Top people and professionals at fair rates.’

‘Incredible professionals able to manage negotiations and challenges. Available to support clients at anytime during the working days and week-ends.’

‘The ability to understand complex situations and deliver original solutions is a key competitive advantage.’

Key clients

LBO France


Chequers Capital


Ambienta SGR


Clessidra SGR


Investcorp Technology Partners


Armira


Auctus Capital Partners


Gradiente Sgr


Arcadia Sgr


Palladio Holding


Work highlights


  • Provided legal assistance to Clessidra SGR in relation to the acquisition, through its Capital Partners 4 investment fund, of 60% shares of Impresoft, an Italian technology hub that provides support and advice in choosing the best business applications, from VII fund of Xenon Private Equity.
  • Advised LBO France on the sale of Vetroelite S.p.A., one of Europe’s leading designers and distributors of high-quality glass packaging, to TricorBraun.
  • Lead legal counsel to Ambienta SGR in relation to the sale of the Calucem group to Cemento Molins.

CMS

CMS is home to a global private equity practice, which includes a dedicated funds group, geared to support open, closed-end, institutional, retail and private funds, among others, on the full array of formation, restructuring, regulatory and operational affairs. The practice is likewise extremely active on the transactional front and is headed by Paolo Scarduelli, an M&A and corporate finance expert with a keen eye for deals within the insurance, banking, TMC and automotive industries.

Practice head(s):

Paolo Scarduelli


Other key lawyers:

Massimo Trentino; Andrea Arcangeli


Dentons

Dentons is home to one of the globe’s largest corporate transaction teams, consisting of over 200 lawyers, and is adept in both fund- and seller-side representation. The team in Italy is led by Alessandro Dubini, a go-to for private equity funds, financial institutions and major industry groups involved in M&A, reorganisations and corporate finance transactions; he is supported by Pier Francesco Faggiano, a key port of call for several pan-European investment funds, and Luca Pocobelli, who has experience of deals in the healthcare and life sciences industries.

Practice head(s):

Alessandro Dubini


Other key lawyers:

Pier Francesco Faggiano; Luca Pocobelli; Stefano Ambrosioni; Barbara Urselli; Enrico Troianiello


Testimonials

‘Senior level attention and availability on deals.’

‘Excellent knowledge and execution capacity.’

‘Luca Pocobelli is a leader, managing with experience and commanding the negotiations of the deals.’

‘Would like to make a special reference to Stefano Ambrosioni – he is great.’

‘The main advantage we enjoyed was the international network and partnerships Dentons provides. We work with the firm in several countries and we are served at the same level everywhere. The overall performance – namely we can have high level legal support wherever we need – is what made our collaboration so precious. We also could build up a strong working relationship with the local staff that also helped us in our international expansion.’

‘This is a people business and I really appreciated the commitment, technical capabilities and personality of Stefano Ambrosioni.’

‘I rank Stefano Ambrosioni as one of the most talented M&A lawyers I have ever met.’

Key clients

Starwood Capital


Adepa


Ankh Impact Ventures


Affidea Group B.V.


Work highlights


  • Assisting Starwood Capital, an American investment fund specialising in the global real estate sector with over US$110 billion in assets, in a subscription to a €50 million capital increase in exchange for a 22% stake in DoveVivo.
  • Advising private investment firm B-Flexion and Affidea Group on the €1 billion sale of the Group to Groupe Bruxelles Lambert.
  • Assisting Adepa, an independent Luxembourg-based management company and fund administrator, in relation to its alliance with Inversis, a wholly-owned subsidiary of Banca March Group, which provides institutional clients with global solutions for distribution of investment funds.

DLA Piper

Leveraging a far-reaching international network, DLA Piper focuses on small- and mid-cap private equity transactions, both domestic and cross-border. The team is well-placed to provide buy- and sell-side representation and is home to a dedicated investment management and funds practice, which provides transactional and regulatory compliance advice to domestic and international fund managers, institutional investors and collective investment schemes. Giulio Maroncelli leads the team, which also includes fashion, luxury, white goods, food and life sciences sector specialist Alessandro Piermanni.

Practice head(s):

Giulio Maroncelli


Other key lawyers:

Alessandro Piermanni; Danilo Surdi; Gabriele Arcuri


 


Key clients

Sun Capital Partners


HG Capital Trust


Itago SGR S.p.A.


AS Roma SPV LLC


Cognita Holdings Limited


Azimut Libera Impresa SGR S.p.A.


CDP Venture Capital SGR S.p.A


Invimit SGR


Hines Italy RE


Generali Investment Partners SGR S.p.A.


WRM


Berlin Packaging Oak Hill Capital Partners


Cetp IV Investment Holdings


Cordusio SIM


Five S.p.A.


Amtivo group (August Capital)


Work highlights


  • Acted for Itago SGR in the exit of the PE fund NEIP III from ISA – Altanova Group S.r.l., simultaneously with the sale of 100% of the corporate capital to an industrial player Esco Technologies (US public company).
  • Acted for Modulaire Group / Algeco SpA on the purchase of the modular buildings business from FAE Group.
  • Assisted Berlin Packaging in the acquisition of Premi, an Italian company specialising in the development and production of primary packaging for the cosmetics and beauty sectors.

Giovannelli e Associati Studio Legale

Giovannelli e Associati Studio Legale's Alessandro Giovannelli, who has previously practised in Hong Kong in London, has expertise in both inbound and outbound investments. He is supported by Fabrizio Scaparro, whose track record spans acquisitions, LBOs, joint ventures and minority investments, involving both public and private companies.

Other key lawyers:

Alessandro Giovannelli; Fabrizio Scaparro; Matteo Delucchi; Gianvittorio Giroletti Angeli


Testimonials

‘Great Team.’

‘Extremely detailed in their work and very good at working on different projects at the same time.’

‘They are very good at working together as a team and always available to put in the long hours and go the extra mile for their clients. They also find innovative solutions inside contracts in order to achieve what makes commercial sense to their client, not only concentrating on the legal aspects.’

Key clients

Ardian


Azimut Libera Impresa SGR S.p.A.


Blacksheep Madtech Fund


Creafund


IdeA Agro


Mandarin Capital


Melrose Industries


Neuberger Berman


Riello Investimenti Partners SGR


Space Capital Club


White Bridge Investments


LCA Studio Legale

LCA Studio Legale acts for private equity and venture capital firms and funds alike, acting on buyout and investment, fundraising rounds and acceleration fund creation mandates, among other matters. Practice head Roberto de Bonis is noted for his support on private and public M&A, business transfer and restructuring transactions. Leah Dunlop joined from Hogan Lovells International LLP in September 2022.

Practice head(s):

Roberto de Bonis


Other key lawyers:

Benedetto Lonato; Riccardo Massimilla; Andrea Messuti; Leah Dunlop


Testimonials

‘Very experienced and at the same time a very flexible and reactive team.’

‘Very friendly and cooperative approach aimed at closing the deal. Well prepared.’

‘Great availability, support in managing  =the client, proactive approach, able to build a constructive dialogue with the client and understand needs.’

‘Roberto de Bonis – extremely effective in supporting the management of a client in the context of a complex M&A transaction.’

Key clients

Arcaplanet


CDP Venture SGR S.p.A.


H-Farm S.p.A.


Impresoft


Indaco sgr S.p.A.


Mansutti S.p.A.


Qodeup S.r.l.


The Data Appeal Company S.p.A.


Xenon Private Equity


Work highlights


  • Advised Arcaplanet’s management on the company’s €1 billion sale by Permira to Cinven.
  • Advised Xenon Private Equity and its portfolio company, Formula Impresoft, during the €200 million sale of the majority stake in the latter to Clessidra Private Equity.
  • Advised CDP Venture Capital SGR S.p.A. – Fondo Nazionale Innovazione as manager of the Fondo Acceleratori and of the Fondo di Co-Investimento MiSE, in launching several new accelerator programmes, including HabiTech, a new accelerator dedicated to start-ups developing services or solutions in the prop-tech and sustainable building sectors.

Pavia e Ansaldo

Pavia e Ansaldo has recently supported private equity clients in deals in a range of sectors including luxury, food, industrial and agriculture. The practice acts for domestic and international players alike, leveraging overseas offices in Tokyo and Barcelona, and is led by managing partner Stefano Bianchi, a go-to for acquisitions, financing and restructuring.

Practice head(s):

Stefano Bianchi


Other key lawyers:

Giuseppe Besozzi; Alberto Bianco


Key clients

Arcadia SGR


Astorg Partners


Dea Capital Funds SGR S.p.A.


Equilybra


Ethica Global Investments S.p.A.


HIG Capital


Mindful Capital Partners (formerly Mandarin Capital Partners


NEVA SGR SpA (Intesa Sanpaolo’s Corporate Venture Capital vehicle)


IPE (INVESTMENTS IN PRIVATE EQUITY)


Itago Partners


Italglobal Partners


Itelyum Regeneration S.r.l. (formerly Viscolube S.r.l.)


Customs Support Group B.V.


Castik Capital Partners GmbH


Orienta Partners


Stirling Square Capital Partners LLP


Xenon Private Equity


Work highlights


  • Advising the leading London-based, mid-market private equity firm Stirling Square Capital Partners on the sale of and reinvestment in Itelyum Group.
  • Advising the private equity firm Xenon Private Equity on the sale of CBG Acciai to the private equity and venture capital firm Azimut Libera Impresa Sgr and to the Luxembourg-based HLD Group.
  • Advising private equity house HIG Capital on its acquisition of SIAT Group.

Carnelutti Studio Legale Associato

Leveraging expertise in the food and manufacturing, healthcare, life sciences, fashion and design sectors, Carnelutti Studio Legale Associato is particularly active on the cross-border front, having acted on a number of deals intersecting North America of late. Managing partner Luca Arnaboldi, adept in both M&A and related financing, co-leads the team alongside Carlo Pappalettera, a go-to for several prominent investment funds.

Practice head(s):

Carlo Pappalettera; Luca Arnaboldi


Other key lawyers:

Valentina Zanelli; Filippo Grillo; Alessandro Asti


Key clients

A&M Capital Europe


Ca’ Zampa Srl


Kedrion S.p.A.


DP Lubrificanti S.p.A.


Società Italiana Gas Liquidi S.p.A., trading as Vulcangas


Work highlights


  • Assisted Kedrion shareholders (FSI, CDP and the Marcucci family) in the signing of a binding agreement for the sale of their stakes in the company to the Permira Fund.
  • Advised Ca’ Zampa, a company operating in the animal care sector, on the sale of the majority of the company’s shares to G Square Health.

     
  • Assisted A&M Capital Europe in executing binding agreements with the current shareholders (21 Invest and Lesi Srl) for the purchase of the Carton Pack group, a leader in the development, manufacture and sale of multi-material packing for the food industry.

Deloitte Legal Italy -Società tra Avvocati a r.l.

Deloitte Legal Italy -Società tra Avvocati a r.l. leverages a far-reaching international network, which combines legal, tax, financial advisory and accounting services, to support on transactions throughout the food, automotive, real estate, fashion and luxury, renewables and healthcare industries. Practice head Giorgio Mariani has considerable experience of advising on major deals.

Practice head(s):

Giorgio Mariani


Other key lawyers:

Massimo Zamorani; Andrea Martellacci; Francesco Munari; Andrea Blasi


Testimonials

‘The team was able to handle a multitude of disciplines during the due diligence and acquisition, including M&A advisory and contracts, tax, IP, employment and diligence services.’

‘The entire firm took a very pragmatic approach to the transaction and removed obstacles that could potentially derail the deal. The team was always accessible, even though they were working between the U.S. and the target company in Italy’.

Key clients

Atlantica Digital S.p.A.


Fluence Technologies INC (participated by Banneker Partners)


Lapi Gelatine S.p.A.


BMB Manifattura Borse S.p.A.


F.A. Group S.p.A.


Xyence Capital SGR S.p.A.


Famiglia Di Florio/Adriamed S.r.l.


Apogeo Space S.r.l.


Prelios S.p.A.


Gitti and Partners

Gitti and Partners is a key port of call for Italian and international investors alike, acting for a client base of family offices, holding companies and private equity houses. Gregorio Gitti specialises in transactions in the utilities and financial services sectors, and is well-placed to advise on a wealth of deal types, including MBOs, LBOs and secondary buy-outs.

Practice head(s):

Gregorio Gitti; Vincenzo Giannantonio; Stefano Roncoroni


 


Testimonials

‘International best practices coupled with deep knowledge of local law and standards. Problem-solving attitude, resulting in proposals to unlock contentious issues.’

Hogan Lovells International LLP

Hogan Lovells International LLP‘s team draws on the wider firm’s banking, employment, regulatory, corporate M&A and capital markets expertise to provide a comprehensive range of services to private equity funds, from formation through to exits. Luca Picone oversees domestic and cross-border transactions alike and is famed for his know-how of the energy, telecoms, luxury, medical device and food industries. The wider team, which works in close tandem with the firm’s 40+ global offices, is also adept in the media, retail, financial services, transport and distribution fields. Leah Dunlop departed in September 2022.

Practice head(s):

Luca Picone


Key clients

21 Invest


DGS S.p.A.


One Rock Capital


Trilantic Capital Partners Europe


Hyle Capital Partners SGR S.p.A.


Fressnapf Beteiligungs GmbH


Newlat Food S.p.A.


Work highlights


  • Assistance to Hyle Capital Partners SGR S.p.A. in the acquisition, through an indirectly controlled vehicle, of a shareholding participation representing 100% of the corporate capital of Guaresi S.p.A.
  • Legal assistance to Fressnapf Beteiligungs GmbH (shareholder of Maxi Zoo Italia) that, together with Cinven, by means of a minority investment acquired Arcaplanet from Permira.

LMCR

LMCR supports on the array of investment transactions, including majority and minority stake acquisitions, LBOs and venture capital deals. Massimo La Torre is a key port of call for listed and unlisted industrial and banking groups, investment funds and entrepreneurs; he co-leads the team with Roberto Rio, who supplements his transactional prowess with corporate governance know-how.

Practice head(s):

Massimo La Torre; Roberto Rio


Other key lawyers:

Angelo Romano; Elmar Zwick


Key clients

L Catterton


Trilantic Europe


Waterland Private Equity


Alto Partners


Deutsche Invest Capital Partners


Mandarin Capital Partners


Smart Capital


McDermott Will & Emery Studio Legale Associato

McDermott Will & Emery Studio Legale Associato manages a busy workload which includes acquisitions, disposals, investments, tax and fund formation affairs. The practice is adept in cross-border and domestic transactions alike, demonstrating particular activity in the wider European market, and counts the automotive, financial services, life sciences, healthcare, retail, TMT and real estate sectors among its core focuses. Emidio Cacciapuoti and Ettore Scandale are the practice heads.

Other key lawyers:

Enrico Raso; Fabrizio Faina


Testimonials

‘They find solutions instead of raising problems.’

‘The team has a wide practice in the regulatory fund and asset management sector. Liaising with the tax department, the team is able to support in all decision making and project structuring phases.’

‘Emidio Cacciapuoti and the team have a deep experience in sophisticated investment structures both on regulatory and tax issues.’

Key clients

Palamon Capital Partners


ES Vedra Capital Advisors LLP


Principia SGR


Muuh s.r.l


Lambda S.p.A.


KPM Analytics


JZ International Limited


G Square Capital


H.I.G. Middle Market


Synergo Capital SGR S.p.A.


CDP Capital Venture SGR S.p.A.


Ranova S.r.l


Odity


Apposite Capital LLP


Claris Ventures SGR S.p.A.


Baker Hughes


G Square Healthcare Private Equity LLP


Ambienta SGR S.p.A.


Work highlights


  • Advised Ambienta SGR S.p.A. on the structuring and fundraising operations of its fourth private equity fund (Ambienta IV), which has closed at €1.55 billion hard cap.
  • Advised Apposite Capital LLP on the acquisition of a majority stake in CrestOptics S.p.A., a company active in the manufacture of advanced fluorescence microscopy systems and diagnostic applications.
  • Acted for Palamon Capital LLP (Fairconnect S.p.A.) in a number of recent matters, including advising on the acquisition from Groupama Assicurazioni S.p.A. of 100% of the corporate capital of G-Evolution S.r.l.

Molinari Agostinelli

Molinari Agostinelli supports private equity funds on the full array of transaction types and also assists with governance, reorganisation and international expansion plans. Ugo Molinari counts M&A, LBOs, real estate and debt restructuring transactions among his strengths; he heads the team with Margherita Santoiemma, who is an expert in joint ventures and acquisition finance, among other deals.

Practice head(s):

Ugo Molinari; Margherita Santoiemma


Other key lawyers:

Marco Laviano; Ciro Di Palma


Testimonials

‘Great market knowledge and very committed to the client and deal.’

‘Ugo Molinari and Ciro Di Palma are recommended.’

Key clients

DEA CAPITAL ALTERNATIVE FUNDS


ALTO PARTNERS SGR


PROGRESSIO SGR


J HIRSCH


CLESSIDRA RESTRUCTURING FUND


IGI SGR


QUADRIVIO SGR


OXY CAPITAL


COIMA SGR


AVM GESTIONI SGR


FIDERA


Work highlights


  • Advised Coima SGR on the sale of the entire corporate capital of a company owning certain real estate assets including Hotel Excelsior in Venice.
  • Advised DeA Capital Alternative Funds SGR on the execution of a partnership agreement with Costa Edutainment Group.
  • Advised Alto Partners SGR S.p.A. and GESCAD S.p.A. in connection with the sale to Bonifiche Ferraresi of the entire share capital of Bia.

Orrick, Herrington & Sutcliffe

Orrick, Herrington & Sutcliffe adopts a specialist approach, predominantly focusing on deals involving the technology, life sciences, financial services sectors as well as those in highly regulated areas. The team is adept in everything from buyouts and M&A through to venture capital investments and is co-led by Guido Testa, who has a track record representing private equity and venture capital funds, merchant banks, family offices and corporates, and Attilio Mazzilli, who routinely supports venture capital firms and high growth technology companies on fundraising matters.

Practice head(s):

Guido Testa; Attilio Mazzilli


Other key lawyers:

Alessandro Vittoria; Livia Maria Pedroni


Testimonials

‘The Orrick team has a great knowledge of private equity/venture capital deals.’

‘The Orrick team is very experienced and applies the best legal practices, therefore the negotiation with other legal teams has been smooth.’

‘The team is always available, extremely focused on quality in the delivery, would recommend them greatly.’

‘Mr. Mazzilli and Ms. Pedroni – extremely focused on the delivery, they excelled in both counselling and time management, keeping the deal process to a tight timeline and proactively bringing the solutions needed. Being reachable anytime, delivering on short notice, it has helped a lot achieving our goals.’

 

Key clients

Safety21


Caslini Family


LBO France


Scalapay


Seer Capital Management LP


Neva SGR


Kreos Capital


Blacksheep


HBM Healthcare Investments


Lightrock


HAT Orizzonte SGR


BKN301 S.p.A.


Exein


Athics


GreenGo Srl


Arcadia SGR


Ethica Global Investments S.p.A


Translated


Aqseptence Group


Allelica S.r.l


Everli


Shippy Pro


Fido S.r.l.


Panakés Partners


Ancorotti family


CDP Venture Capital SGR


Synergo Capital SGR + Sinergia Venture Fund


United Ventures


AVM Gestioni


HAT SGR


Work highlights


  • Assisted Safety21, the leading Italian software provider in the smart road and smart city sector, with the sale of a majority stake to the international private equity fund Bregal Unternehmerkapital.
  • Advised the Caslini family, as majority shareholder, on the agreement with the Columna Capital fund, as minority shareholder, for the €370 million sale of a majority stake in Bianalisi S.p.A.
  • Advised LBO France, an independent private equity player with EUR 6.3 billion in capital raised, on the completion of the acquisition of a majority stake in the share capital of Polis Fondi SGR.

Simmons & Simmons

The team at Simmons & Simmons is equipped to support on investment, divestment, acquisition, buyout, financing, venture capital and turnaround transactions, among many others. Andrea Accornero has a track record of representing both domestic and multinational players, including private fund managers, and serves as practice co-head alongside Marco Muratore, an expert in the life sciences, TMT and manufacturing sectors.

Practice head(s):

Andrea Accornero; Marco Muratore


Other key lawyers:

Dario Spinella


Testimonials

‘Simmons & Simmons is one of the few law firms able to offer combined solutions for legal and tax due diligence.’

‘We work very often with Simmons & Simmons. This is because we truly value the presence of Marco Muratore.’

‘Global practice. Ability to cross staff. Ability to allocate resources as needed to avoid extra costs, flexible in managing fees clearly and efficiently, ability to cover all legal areas of work.’

Key clients

Wise Equity SGR S.p.A.


IGI Private Equity


RiverRock European Capital Partners LLP


EOS Corrugated Group (Capza’s portfolio company)