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.
Private equity in Italy
BonelliErede
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.
Gattai, Minoli, Partners
Gattai, Minoli, Partners 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.
Practice head(s):
Bruno Gattai; Stefano Catenacci; Gerardo Gabrielli
Other key lawyers:
Federico Bal
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
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.
Practice head(s):
Francesco Gianni; Stefano Bucci; Gianluca Ghersini; Raimondo Premonte
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
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.
Pedersoli Studio Legale
Pedersoli Studio Legale excels in all facets of the private equity area including big-ticket and multi-jurisdictional deals, fund work, financial services regulation, acquisition finance and tax structuring. Alessandro Marena leads the practice and, in addition to his prolific oversight of M&A deals, 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):
Alessandro Marena
Other key lawyers:
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.’
‘Luca Rossi Provesi is a very skilled professional. He is a first-rate and reliable professional with notable experience, able to guide us on very difficult negotiations.’
‘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’
‘I had the honour to work with Avv. Carlo Re and the team; they are outstanding professionals on which you can always rely on. They have strong technical skills but more important they have a unique sense of business and are able to suggest the client the best compromise to achieve the targets.’
‘Ascanio Cibrario is a very sharp and always available professional. He has extraordinary negotiating and relationship skills and we always rely on his experience, ethics and competence. Luca Rossi Provesi is a particularly talented and always helpful and available professional with great technical skills. He is always involved in delicate phases of the negotiations.’
Key clients
Alpha Private Equity
PAI Partners
Ambienta SGR
AVM Green
Bravo Capital Partners
Cobepa
F2i SGR
Quadrivio
Bregal Unternehmerkapital
Smart 4 Engineering
Metrika Tech fund
ABC Capital Partners
Work highlights
- Assistance to Kedrion’s shareholders in the sale of Kedrion to Permira and in the reinvestment of the Marcucci family together with FSI in the new group as a result of the merger between Kedrion and BPL.
- Assistance to PAI Partners, through its PAI Mid-Market Fund, in the acquisition of Scrigno, a leading company in the design, production and marketing of counter frames for sliding doors and windows, previously owned by Clessidra Capital Partners 3.
- Assistance to Bregal Unternehmerkapital in the acquisition of the majority stake in Italgel, a leading global producer of gelatin and collagen.
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.
Practice head(s):
Emidio Cacciapuoti; Ettore Scandale
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)