Private equity in Italy

BonelliErede

BonelliErede is widely respected for its advice to funds and their portfolio companies, investment banks and mezzanine funds. The practice comprises multi-disciplinary professionals who advise on fund formation, structuring acquisitions, reorganisations and exits, M&A and management incentive schemes. It also stands out for its creation of sophisticated leveraged finance structures. In 2019, the firm was integrated with Lombardi e Associati, which brought on board private equity specialist Stefano Nanni Costa. Umberto Nicodano is a corporate governance and M&A specialist, Eliana Catalano is country partner for the former Yugoslavia and Albania, and Giulia Bianchi Frangipane is experienced in the retail, energy, financial services, telecoms, transport and insurance sectors. M&A, corporate law and business contracts specialist Augusto Praloran was made partner.

Practice head(s):

Umberto Nicodano

Testimonials

The lawyers are true professionals who are dynamic and quick – one of the best firms in the country.

Stefano Nanni Costa is an outstanding lawyer for technical skills and matter management. Clients are in safe hands with Stefano.

Key clients

APG Asset Management

Astorg Partners

Attestor Capital

Corsair Capital

FSI SGR

L Catterton

Wise SGR

Work highlights

  • Advised Finos, the sole shareholder in Trussardi, on the sale of a majority stake in Trussardi to QuattroR, an Italy-based private equity firm.
  • Acted for First State Investments on the acquisition of Uniper’s stake (approximately 48%) in OLT Offshore LNG Toscana.
  • Advised Consilium and Progressio on the acquisition of Gelit’s share capital from Conagra Group.

Chiomenti

Chiomenti advises on Italy's most significant private equity transactions. The broad practice covers large transactions, but also mid-cap and venture capital deals and distressed situations. The team is recognised for pioneering the development of LBO techniques and stands out for its finance credentials. It was recently particularly active in pharmaceutical sector deals. Franco Agopyan is an international contracts specialist, Massimiliano Nitti is a private and public M&A expert, and Luca Liistro is noted for pharmaceutical, and healthcare and life sciences matters. Carlo Croff and Antonio Sascaro advise Italian and international clients on major deals, and senior associate Edoardo Canetta Rossi Palermo's sector experience includes media, technology, fashion and construction.

Practice head(s):

Franco Agopyan; Salvo Arena

Key clients

SK Capital Partners

One Equity Partners

Ontario Teachers’ Pension Plan

BC Partners

H.I.G.

Capvis

Cerberus

Charterhouse

CVC

Lonestar

Lion Capital

Investindustrial VI

Cinven

NB Renaissance

Clessidra

F2i

FSI Sgr

Searchlight

OpCapita

QuattroR

Investindustrial Group Holdings

Pitney Bowes Inc.

IGI SGR

Apollo

Work highlights

  • Advised F2i – Fondi Italiani Per Le Infrastrutture on the acquisition from Enel Produzione of two plants for the production of electric energy from vegetable biomass.
  • Acted for QuattroR SGR on the acquisition of a majority stake in the Trussardi Group, through the creation of a Newco.
  • Advised Gruppo Gavio on the sale of a 40% stake in Nuova Argo Finanziaria to Ardian.

Gattai Minoli Agostinelli & Partners

Gattai Minoli Agostinelli & Partners is widely recognised for its strength in private equity deals. The team's scope of work covers venture capital and large and mid-sized deals. It also provides clients with corporate, finance and tax law assistance. Bruno Gattai is frequently involved in Italy’s most significant and complex private equity transactions, Stefano Catenacci has extensive experience in the small and mid-cap private equity industry, and Gerardo Gabrielli advises private equity funds across the whole deal size spectrum. Also recommended are Sebastiano Cassani, who is active in the food, energy and shipping sectors, and M&A, private equity and capital markets specialist Federico Bal.

Practice head(s):

Bruno Gattai

Testimonials

The team is reliable and committed.

Stefano Catenacci is very fair, creative, helpful in negotiations, and able to co-ordinate non-M&A work.

Key clients

CVC Capital Partners

Bain Capital

Intermediate Capital Group

Investcorp

Ardian

Clessidra SGR

21 Investimenti SGR

Ambienta

Green Arrow

FSI SGR

HIG

Tikehau

Alto Partners

Amber Capital

Consilium SGR

PM & Partners

Astorg

Apax Partners

Work highlights

  • Advised Ambienta SGR, a sustainability-focused private equity investor, on the acquisition of Phoenix International.
  • Acted for Intermediate Capital Group on its €1bn acquisition from CVC Capital Partners of generic pharmaceutical company, DOC Generici.
  • Advised CVC Capital Partners on corporate matters connected to the acquisition of Recordati’s majority stake from members of the Recordati family,

Gianni, Origoni, Grippo, Cappelli & Partners

Gianni, Origoni, Grippo, Cappelli & Partners has longstanding experience of assisting Italy's private equity pioneers and the practice is frequently a legal counsel of reference for leading domestic and international players. The sectors where the team is most actively involved are retail, fashion and luxury, insurance, infrastructure, healthcare and pharmaceuticals. Francesco Gianni and Roberto Cappelli frequently work on some of the group's largest deals; Stefano Bucci advises on major acquisition transactions, related acquisition financing, and takeovers of listed corporations; Gianluca Ghersini's practice includes exits, buy-outs and buy-ins; and Renato Giallombardo is a private equity and venture capital specialist.

Practice head(s):

Francesco Gianni; Stefano Bucci; Roberto Cappelli; Gianluca Ghersini; Renato Giallombardo

Testimonials

It is highly appreciated for its local connections and institutional relations. The team is also proactive in suggesting new investment opportunities.

The team is attentive, quick and flexible.

This is a group of people who are able to provide the full spectrum of skills.

Stefano Bucci is very technical, always available and offers clear opinions.

Key clients

AEA Investors

Alcedo

Apax Partners

Ardian​

Bain Capital

BC Partners

Blackstone

BlueGem Capital Partners

Bridgepoint

Cassa Depositi e Prestiti

CDP Equity

Cerberus

Charterhouse Capital Partner

Cinven Partners LP

Cobepa – CompagnieBenelux Committee

CVC Capital Partners

DeA Capital Alternative Funds SGR

EQT Partners

Ergon Capital Partners

Groupe Siparex

Kohlberg Kravis Roberts

Invitalia Venture

Only The Brave S.r.l. (OTB)

Panakes

Peninsula Capital

Qatar Foundation

Terra Firma

Trilantic Capital Partners Europe

Triton

United Ventures

Value Italy

Varde Partners

International Investment & Underwriting

Work highlights

  • Advised Assicurazioni Generali on the acquisition of a Portuguese insurance carrier, which was owned by Apollo Global Management.
  • Acted for Cassa Depositi e Prestiti, through its holding company CDP Private Equity, on the acquisition of stakes in Sia.
  • Advised Blackstone Group on the sale (alongside the Versace Family) of Gianni Versace to Michael Kors for an enterprise value of approximately €1.8bn.

Latham & Watkins LLP

Latham & Watkins LLP is well known for major private equity transactions and for its cross-border capabilities. Giovanni Sandicchi was recently part of a team that advised Sisal Group (a CVC portfolio company) and Banca 5 (an Intesa Sanpaolo subsidiary) on an agreement to create a new company, which offers banking products and payment and transaction-oriented services. Stefano Sciolla is local corporate department chair and co-chair of the firm’s retail and consumer goods industry group; and Cataldo Piccarreta has extensive experience advising private equity sponsors and companies on complex domestic and cross-border transactions.

Practice head(s):

Stefano Sciolla

Testimonials

This full-service practice has extended capabilities across functions, disciplines and countries.

It is great for availability, acumen and commercial flexibility.

Cataldo Piccarreta is an amazing lawyer with excellent commercial sense and the ability to drive deals through to completion; he also has outstanding relationship-building capabilities and is trusted by many private clients, which is a great comfort when he is on either side of a transaction.

Key clients

The Carlyle Group

Bain Capital

BC Partners

Bluegem

CVC Capital Partners

EQT

Global Infrastructure Partners

Capvis

Pai Partners

Platinum

Five Arrows

Morgan Stanley Infrastructure Fund

TA Associates

L Catterton

SK Capital

Hellman & Friedman

Work highlights

  • Advised Bluegem on the acquisition of Pool Service, a producer of hair care products, from Accord Management and the Cattaneo family.
  • Acted for The Carlyle Group on its joint venture with Investindustrial to create a global high-end interior design group.
  • Advised Bain Capital and Italmatch Chemicals on the acquisition of BWA Water Additives, a global provider of specialty water and oil and gas treatment solutions.

Linklaters

In 2018, Linklaters hired experienced rainmaker Roberto Casati from Cleary Gottlieb Steen & Hamilton. The firm's private equity practice is highly rated for its experience in major transactions. Giorgio Fantacchiotti  heads the private equity practice in the Milan office; he specialises in cross-border public and private M&A and private equity transactions, and advises Italian, international and private equity funds on their most strategically important investments. He also regularly works alongside the firm’s financial regulatory and structured finance lawyers. Pietro Belloni is experienced in M&A, joint ventures and shareholder agreements.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton has considerable expertise in high-end private equity transactions. The practice is supported by the firm’s highly-regarded M&A, leveraged finance, tax, employee benefits, and capital markets practices. It also fields specialists in the energy, TMT, infrastructure, financial institutions, industrials and consumer goods sectors. Giuseppe Scassellati-Sforzolini started the firm’s Italian corporate practice over 25 years ago, Matteo Montanaro’s practice is primarily focused on corporate matters, and Roberto Bonsignore is noted for M&A involving large corporations and private equity clients. Senior attorney Gerolamo da Passano is a corporate specialist.

Practice head(s):

Giuseppe Scassellati-Sforzolini; Roberto Bonsignore; Matteo Montanaro; Carlo de Vito Piscicelli; Ferdinando Emanuele

Key clients

Alpha Associati

Lone Star

F2i

Warburg Pincus

Allianz Capital Partners

General Atlantic

JC Flowers & Co

Macquarie

Peninsula Capital

TPG

Pillarstone Italy

Work highlights

  • Advised F2i on the reorganisation of its shareholding and governance structure.
  • Assisted F2i with its acquisition of Porto di Carrara, an Italian port terminal operator, from Vittorio Bogazzi & Figli.
  • Advised Pillarstone Italy on restructuring Perseveranza’s debt.

Clifford Chance

Clifford Chance is a counsel of choice for international and Italian private equity players, as well as major industrial entities investing in Italy through the acquisition of assets backed by funds. It also advises financial institutions that finance acquisitions through complex structures. The practice assists across fund types, including debt, infrastructure, real estate and hedge funds, and is particularly noted for assisting with sophisticated global regulatory issues. Claudio Cerabolini heads the Italy private equity group, Paolo Sersale handles all stages of investment cycles, and Giuseppe De Palma advises on private equity-related financings.

Practice head(s):

Charles Adams; Claudio Cerabolini; Giuseppe De Palma; Ferdinando Poscio; Paolo Sersale; Filippo Isacco

Testimonials

The lawyers have the ability to establish personal relationships with clients and be their counsellors, rather than just lawyers.  They also stretch outside of classic mandates to provide advice on other diligence work streams when relevant, allowing clients’ investment theses to become more accurate.

Claudio Cerabolini tailors the delivery of his service in a perfect manner, and adapts to the limits and requirements of clients’ specific situations in a seamless way.

Key clients

21 Partners

Amundi PE

Apax Partners

BC Partners

Synergo

Cinven

CVC

PSP Investments

Fondo FSI

EQT

Partners Group

TBG

Permira

Work highlights

  • Assisted Paladin Capital and Holding Carisma with the sale of Trudi, which manufactures teddy bears, to Giochi Preziosi.
  • Advised the mandated lead arrangers, Banca IMI, Crédit Agricole, Credit Suisse, Deutsche Bank, Jefferies, Natixis, Société Générale, UBI and UniCredit, on the complex financing for CVC’s acquisition of Recordati, an international pharmaceutical group.
  • Acted for global private markets investment manager, Partners Group, on the acquisition of Megadyne Group, an Italian manufacturer of power transmission belts, from AstorgPartners.

Gatti Pavesi Bianchi

Advising on the full life cycle of investments and financings, Gatti Pavesi Bianchi's practice is experienced in the large and middle-market sectors, and includes experts in buyouts and growth equity deals. Another key area is growth company representations in the technology, healthcare, financial services, consumer and manufacturing sectors. Gianni Martoglia and Carlo Pavesi have strong track records in private equity-related transactions, and Andrea Giardino's experience includes advising private equity funds from the fashion and pharmaceuticals sectors. Gianpaolo Scandone and Giuseppe Toia also have private equity experience.

Practice head(s):

Gianni Martoglia; Andrea Giardino

Testimonials

The team is very appreciated for the continuous availability of its partners and team and the ability to give prompt and proper assistance on different – and unpredictable -matters surrounding large transactions. The practice provides high levels of professionalism and the ability to manage relationships with counterparts.

Gianni Martoglia is one of the best private equity and M&A lawyers around. His expertise and capabilities drive the deal in the right way, considering clients’ needs from both a legal and commercial perspective.

Key clients

NB Aurora

Neuberger Berman

Fondo Italiano d’Investimento

Armonia Sgr

Clessidra SGr

Europe Capital Partners VI

Synergo Sgr

Investindustrial

Work highlights

  • Advised Equity Partners Investment Club on the acquisition, through its vehicle THC, of approximately 49% of La Bottega dell’Albergo, which produces and distributes amenities for luxury hotels.
  • Assisted Athena Investments with the sale of a portfolio of wind and photovoltaic plants.
  • Assisting Fondo Italiano di Investimento with the sale of 17% of Forgital, which manufactures large forged and machined components for the aerospace and industrial industries, to The Carlyle Group.

Legance - Avvocati Associati

Legance - Avvocati Associati has extensive experience of assisting private equity and sovereign wealth funds, corporations and financial conglomerates on private equity transactions. The team stands out for the strength of its fund formation team, led by Enzo Schiavello, but clients also benefit from the firm's specialist advice on regulatory matters, banking and finance, and tax. Filippo Troisi advises domestic and international private equity funds on complex deals and cross-border transactions; and Bruno Bartocci acts for private equity funds on acquisitions, mergers, divestitures and joint ventures.

Practice head(s):

Filippo Troisi; Bruno Bartocci; Alberto Giampieri; Giovanni Nardulli; Andrea Fedi; Piero Venturini; Marco Gubitosi; Federica Pomero

Testimonials

The practice is able to execute very complex financing structures (even across different jurisdictions) and this highly dedicated team is available on short notice.

It has a very pragmatic and professional approach.

Key clients

Advent International

Alpha Group

Apax Partners

Apollo Global Management

Ares Life Sciences

Bain Capital

Blackstone

Cabot Square Capital

Centerbridge

Change Capital Partners

Charme Capital Partners SGR

Charterhouse

Clessidra

CVC Capital Partners

DWS – Deutsche Bank infrastructure fund

F2i SGR

Fortress Investment Group

Green Arrow Capital SGR

Goldman Sachs

GreenOak

GTCR

JP Morgan Real Estate

Lone Star Funds

Mandarin Capital Partners

Neuberger Berman

Oaktree Capital

Permira

Waypoint Capital

Work highlights

  • Advised F2i and EI Towers on the acquisition of broadcasting unit, Persidera.
  • Acted for CVC on the acquisition of DOC Generici, one of Italy’s largest independent pharmaceutical companies.
  • Advised F2i SGR on an acquisition from Terra Firma of Italian photovoltaic assets, indirectly held by its Italian holdings RTR Capital and RTR Holdings VII.

Nctm Studio Legale

Nctm Studio Legale stands out for its deal experience in the automotive, retail, fashion, luxury and design sectors. Other active areas are financial services, TMT, pharmaceuticals, energy and food. Simone De Carli is a corporate and commercial law expert; Paolo Montironi advises significant private equity firms on major acquisitions; and Matteo Trapani is an M&A and private equity specialist. Pietro Zanoni recently led advice to Italy's Enoplastic on the sale of its majority stake to Cobepa, a Belgian private equity fund.

Practice head(s):

Simone De Carli

Testimonials

The team is rated for its competence, dedication and understanding of technical, business and soft issues. It has the ability to grasp the essence of deals and retain knowledge to provide effective follow-up after closing. The lawyers think ahead and are able to anticipate events and design the contractual framework in accordance with each deal’s specific requirements.

They always provide well-thought through advice.

Pietro Zanoni and his colleagues are extremely well prepared.

Pietro Zanoni is an outstanding lawyer. His wealth of experience ranges from standard to highly complex situations in a variety of industries. His depth of technical knowledge and his ability to simplify complexity are essential elements that help deals happen in a smooth way. His ability to connect personally with counterparts’ lawyers and with entrepreneurs help set constructive negotiations without compromising full and effective client protection.

Key clients

Intermediate Capital Group

Mediolanum Farmaceutici

Sellers of List

Manifattura Valcismon

Gear 1

Enoplastic

Chequers Capital

Calligaris Family

Ambienta SGR

Sellers of Nolangroup

Gradiente SGR

Monrif Group

Unieuro

Reekep

Doughty Hanson Private Equity

Work highlights

  • Assisted Manifattura Valcismon, which manufactures high-performance sportswear, with the sale of a 40% stake to private equity fund, Equinox.
  • Advised Italian company List on its sale to private equity fund, TA Associates.
  • Acted for Mediolanum Farmaceutici on the sale of Neopharmed Gentili to French private equity fund, Ardian.

Pedersoli Studio Legale

Pedersoli Studio Legale has specialist lawyers in areas that are key to private equity, including funds, financial services regulation, tax structuring, and acquisition finance. The team also handles the divestment of portfolio companies and fund formations, and has expertise in the retail, fashion, media, manufacturing, luxury goods and food sectors. Alessandro Marena advises significant Italian and international funds; Antonio Pedersoli assists with buy-outs and buy-ins; Carlo Pedersoli is particularly focused on banking-sector deals; and Ascanio Cibrario is 'reliable and a hard worker'. Turin-based Carlo Re is active in deals involving the financial services, automotive and publishing sectors, and M&A specialist Luca Saraceni is another key name.

Testimonials

The entire team gains the trust of clients’ top management. Its lawyers are responsive, accurate, and good negotiators and capable lawyers with excellent commercial skills. Clients always work as a well-integrated team when advised by them, they always do excellent work and the quality of services is exceptional.

The team is formed of a different professional for each area of competence requested. Besides its high professional capabilities, the team is capable of understanding clients’ needs and boundaries.

This is a great and knowledgeable firm with plenty of experience in complex matters and always at ease in international environments.

A perfect mix of a professional and personal approach is certainly a quality clients cannot find in competitors.

The team always provides valuable and insightful support. Clients particularly appreciate the constant and direct involvement of senior team members in all phases of negotiations and in all the discussions regarding relationships with counterparts.

The firm assists clients very well at all levels from associates to partners.

Antonio Pedersoli, besides his absolute expertise, is always extremely objective and capable of suggesting the best and easiest solutions. He has an eye on the future, not only on the present matter.

Ascanio Cibrario has in-depth understanding of clients’ needs and – without missing the legal issues – a very good commercial and practical approach.

Ascanio Cibrario is reliable and a hard worker.

Luca Saraceni always demonstrates high levels of attention to clients’ needs and provides alternative solutions to problems.

Key clients

Quadrivio Group

Made in Italy Fund

Alpha Private Equity Fund 7

IDeA Taste of Italy

Fondo Italiano d’Investimento SGR

Star Capital SGR

Ambienta SGR

Alto Partners SGR

Work highlights

  • Advised Made in Italy Fund, a private equity fund incorporated by Q Group & Pambianco, on the acquisition of a majority stake in Palladium Moda, which owns the 120% Lino trade mark.
  • Acted for Alpha Private Equity Fund 7 on the acquisition of a metal and non-metal accessories manufacturer’s corporate capital.
  • Advised Fimei’s shareholders on the sale of their shareholding to a consortium of investment funds, controlled by CVC Capital Partners.

White & Case (Europe) LLP

White & Case LLP Italy regularly works with global players in the pharmaceutical and healthcare sectors. The private equity team works alongside the Milan office's private and public M&A practice. It is also backed up by robust debt and equity capital markets practices and a leveraged finance group covering bank debt and bond product offerings. Leonardo GraffiFerigo FoscariMichael Immordino, who works out of the London and Milan offices, and Tommaso Tosi handle private equity-related deals. The firm hired M&A partner Maria Cristina Storchi from Latham & Watkins LLP. Transactions specialist Alessandro Seganfreddo is also noted.

Practice head(s):

Ferigo Foscari; Leonardo Graffi; Michael Immordino; Alessandro Seganfreddo; Maria Cristina Storchi; Tommaso Tosi

Testimonials

The dedicated and focused team has exceptional partners, all of them of very high standing. They work well together and are capable of addressing complex situations.

Ferigo Foscari is one of the best lawyers to work with. He is smart, commercially sensitive and always to the point.

Key clients

21 Investimenti

BC Partners

Blackstone Tactical Opportunities Advisors

CEE Equity Partners

Cerved Group

Cobepa

CVC Capital Partners

Elliott Capital

First State Investments

FSI SGR

Goldman Sachs International

Infracapital

InfraVia Capital Partners

Muzinich

PFH Palladio Holding

Summit Partners

Tengram Capital Partners

Trilantic Capital Partners

Work highlights

  • Advised an investment consortium, led by CVC Capital Partners and including PSP Investments and StepStone, on the acquisition from the Recordati family of the holding company that owns a 51.8% stake in Italian pharmaceutical group, Recordati.
  • Advised Goldman Sachs International and Blackstone Tactical Opportunities Advisors on the acquisition of a strategic minority stake (with joint control rights) in Prima Assicurazioni, an online insurance broker.
  • Assisted Muzinich & Co with the purchase of the share capital of Springrowth SGR, an independent Italian alternative investment fund manager, from its current shareholders.

Dentons

Dentons regularly provides private equity clients with full-service assistance; the team is able to draw upon resources from the colleagues in banking and finance, tax, competition and antitrust, public law and regulatory law. Clients also benefit from the local team's global network in relation to cross-regional advice. Alessandro Dubini is regularly involved in private equity transactions; and Luca Pocobelli's clients include Italian and pan-European investment funds, financial institutions and national and multinational industrial groups.

Practice head(s):

Alessandro Dubini

Key clients

Equita Private Debt Fund

Pitney Bowes

ArchiMed

Lifebrain

Latour Industries

Ortho-Clinical Diagnostic Italy

Work highlights

  • Advised Archimed, which specialises in growth and buyout transactions in healthcare, on the acquisition of Diesse Diagnostica Senese from Orphée.
  • Assisted a pool of banks with the financing granted to Xenon Private Equity for the acquisition of Emmeti Group.
  • Advised Equita Private Debt Fund on the acquisition by its private debt fund, Eos Investment Management, of Neronobile, which is known for the marketing of coffee beans, ground coffee and coffee.

DLA Piper

DLA Piper advises ​private equity funds, management teams and acquisition finance providers on all aspects of private equity investments. The team also assists with fund formation and fundraising processes. Clients particularly appreciate the firm's integrated domestic and cross-border capabilities. Goffredo Guerra has substantial experience of private equity mandates; Fabio del Bene assists Italian and international private equity houses with acquisitions and divestitures; and Alessandro Piermanni's sector expertise includes fashion, luxury goods, white goods, food and life sciences.

Practice head(s):

Wolf Michael Kühne; Giulio Maroncelli

Key clients

Arsenal Capital Partners

CDP Equity

DeA Capital

Fondo Italiano di Investimento

Hesira Group

HG Capital

Idea Cinquanta

NEIP III

Oakley Capital

Orange Capital Development

Pragma Invest

Recomec

Värde Partners

Vision Capital

Work highlights

  • Advised 2 Ride Holding, a portfolio company of Eurazeo and Natixis, on the acquisition of Helmet Invest, which manufactures motorcycle helmets and accessories.
  • Acted for Värde Partners on an investment in a 20% stake in Borio Mangiarotti.
  • Advsied Hg Capital on the partial acquisition of Register Group.

Giovannelli e Associati Studio Legale

Giovannelli e Associati Studio Legale advises private equity funds, investment companies, multinational groups and entrepreneurs on complex corporate transactions. The team assists with all stages of deals, from early structuring to closing. Alessandro Giovannelli and Fabrizio Scaparro  acted for French private equity fund Ardian on the acquisition of a majority stake in Neopharmerd Gentili group, a pharmaceutical company, from Mediolanum Farmaceutici. Matteo Delucchi also has significant private equity experience.

Key clients

Ardian

Argos

Azelis

Cargotec Corporation

Dedalus

GKN Wheels & Structures Group

Gruppo Illy

Investindustrial

Italmatch Chemicals Group

Melrose Industries

MS Growth Ventures

Nutrilinea

Objectway

Orphée SA

Trafigura Beheer BV

White Bridge Investments

Work highlights

  • Advised IDeA CCR II on its investment in Snaidero Rino, which produces and distributes fitted kitchens.
  • Acted for Ardian on the sale of Italmatch Chemicals to Bain Capital Private Equity.
  • Advised Ardian on the acquisition of the share capital of Celli, an Italian beverage-dispensing solutions company.

Molinari e Associati

Molinari e Associati regularly advises Italian and foreign private equity funds on transactions and corporate matters. Its assistance includes corporate governance issues, devising structures for complex transactions, corporate reorganisations and international expansion plans. Ugo Molinari acts for private equity clients on sales and acquisitions (including real estate transactions), restructurings and disputes. Margherita Santoiemma has pharmaceutical sector experience. Also key to the group is salary partner Marco Laviano, who advises on large business acquisitions and disposals.

Practice head(s):

Ugo Molinari; Margherita Santoiemma

Testimonials

This strong private equity practice stands out for its dedication, attention to detail and responsiveness. The contribution of the team is often crucial to the success of the deal.

Key clients

Patron Capital

Attestor Capital

York Capital Management

Alto Partners

Progressio

J Hirsch

JC Flowers

Work highlights

  • Advised Alto Partners SGR, an Italian private equity fund, on the acquisition of a stake in Olimpia Splendid, which is active in the electronics sector.
  • Acted for Minacom, which is managed by private equity fund ILP III, on the disposal of Clouditalia’s share capital.
  • Advised Wise SGR and ILP III SCA Sicar on a complex transaction involving the re-organisation of the ownership structure of Alpitour.

Simmons & Simmons

Simmons & Simmons advises private equity funds on investments, disinvestments, corporate governance, tax structures, financing, restructuring, and related disputes. The client base also includes venture capital and turnaround funds. Andrea Accornero handles private equity transactions for Italian and international players, and Dario Spinella has extensive Asian market experience. Managing associate Bernadetta Troisi specialises in corporate issues for private equity, venture capital institutions and investment funds.

Practice head(s):

Andrea Accornero

Key clients

Charterhouse Capital Partners

Chequers Capital

Rollon

Tapì

Tatuus Racing

Wise SGR

Work highlights

  • Advised Tatuus Racing, which is controlled by private equity fund Wisequity IV, on the acquisition of 75% of Breda Racing’s share capital.
  • Acted for Tapi on the acquisition of Les Bouchages Delage’s share capital.
  • Advised Chequers Capital, IGI SGR, and the management of Rollon, on the disposal of Rollon.

Allen & Overy - Studio Legale Associato

Allen & Overy - Studio Legale Associato advises on private equity matters across the TMT, food and beverage, energy, real estate and financial services sectors. The group fields corporate, leveraged finance, securitisation and investment fund experts, who regularly work alongside the firm's tax, employment, real estate and public law specialists. Giovanni Gazzaniga has considerable private equity and M&A experience; and Paolo Ghiglione advises Italian and international funds on acquisitions, disposals, reorganisations and corporate governance. Recently promoted partner Paolo Nastasi assists private equity funds with corporate and M&A deals.

Practice head(s):

Giovanni Gazzaniga; Paolo Ghiglione

Testimonials

A&O provides integrated advice, drawing on all the firm’s relevant practice groups and global offices, so as to offer its clients comprehensive guidance and innovative solutions on local, cross-border and global matters.

Giovanni Gazzaniga provides excellent client service.

Paolo Nastasi is very proactive and committed.

Work highlights

  • Advised MIR Capital, a private equity fund established by Gazprombank and Intesa Sanpaolo, on the acquisition of share capital in Cotril.
  • Advised 21 Investimenti, on behalf of its fund 21 Investimenti III, on the acquisition of a majority stake in Bodino.
  • Acted for The Riverside Company, a global private equity firm, on its acquisition of La Galvanina, an Italian producer of mineral water and soft drinks.

CMS

CMS' private equity lawyers leverage their corporate skills on investment deals; they also assist with the incorporation, structure and formation of new entities, taxation, compliance and regulatory issues. In addition, the group works closely with the firm's finance, capital markets and competition law departments. Paolo Bonolis is regularly involved in private equity and venture capital transactions, and Massimo Trentino advises private equity funds on high-profile deals. Paolo Scarduelli focuses on private equity transactions of all types and sizes, and Pietro Cavasola is a corporate and M&A expert.

Practice head(s):

Pietro Cavasola; Paolo Bonolis; Massimo Trentino

Testimonials

CMS is a great international law firm with exceptional lawyers. The private equity practice can be defined as particularly excellent and is fully dedicated to its clients’ needs.

The firm has an incredibly developed network, expertise and reputation, which makes all business developments much easier. The lawyers have the ability to grasp the essence of problems and quickly fix them or even prevent them, thanks to their strategic thinking and huge experience.

Massimo Trentino deserves special mention – an outstanding lawyer with spectacular juridical skills and constant reliability.

Paolo Bonolis has a huge network and a strong reputation; he is well respected by all major finance players and devoted to his clients‘.

Key clients

Abris Capital Partners

K. Invest Holding SAL

Lemanik Asset Management

Cornelia Capital

AON Investment

4AIM Sicaf

Star Capital SGR

Jupiter

JCI Capital

Mafco Investments

Optimum Asset Management

Columna Capital

STEP

Hedge Invest SGR

Work highlights

  • Assisted the shareholders of Multimedia Network and La BiBi.it with the sales of the companies to a Swedish fund.
  • Assisted K Invest Holding, a Lebanese investment company that specialises in real estate and private equity, with the acquisition of 49% of the share capital of Nuove Distillerie Vincenzi, which produces and sells liqueurs, syrups and chocolate.
  • Advised Abris CEE Mid-Market III on the acquisition, through its subsidiary NEPT Holdings, of a strategic shareholding in biomedical company, ITP.

Hogan Lovells International LLP

Hogan Lovells International LLP's scope of work covers fund formation,  acquisitions, portfolio companies and exits. The team also advises on banking, regulatory, employment, capital markets. A key feature is its ability to work with colleagues in over 40 offices worldwide. Luca Picone's sector experience includes telecoms, luxury, energy, food and infrastructure. Francesco Stella, Leah Dunlop and Antonio Di Pasquale are M&A specialists.

Practice head(s):

Luca Picone

Key clients

21 Invest

JAB Luxury Group

Fondo Charme

Helsinn Investment Fund

Trilantic Capital Partners Europe

IDI

BC Partners

Work highlights

  • Advsied Orca Devéloppement, an IDI portfolio company, on the acquisition of Industria Tessuti Tecnici’s corporate capital.
  • Acted for Forno d’Asolo, a BC Partners portfolio company, on the acquisition of Forno della Rotonda’s corporate capital.
  • Assisted the managing director of leather accessory brand, Il Bisonte, with the sale (by Palamon Capital Partners) of its holding company to Japanese fashion brand distributor, Look Holdings.

Orrick, Herrington & Sutcliffe

Orrick, Herrington & Sutcliffe's private equity team has significant experience of strategic combinations and investment transactions, particularly in the mid-market and cross-border space. It includes experts in the industrial and technology sectors, but is also strongly focused on real estate and energy and infrastructure. Guido Testa has a significant track record in high-value private equity transactions and Attilio Mazzili is experienced in strategic business arrangements within the technology, telematics and automotive industries. Technology sector specialist Alessandro Vittoria was promoted to of counsel in 2019.

Practice head(s):

Guido Testa; Attilio Mazzilli; Marco Nicolini; Alessandro De Nicola

Testimonials

In addition to its complete legal competence, the practice’s excellent features include the ability to propose ideas and solutions that aim to solve potential problems.

The lawyers reach negotiation targets beyond clients’ expectations, providing best-in-class advice during every step of a deal.

It provides appropriate solutions and is highly supportive of clients.

Key clients

Mittel

Safety21

Consilium SGR

Calvi Holding

Green Arrow Capital

Capital Dynamics

AVM Gestioni SGR

Banca Monte dei Paschi di Siena

Style Capital SGR

Supermercato24

Brumbrum

Healthware

Sweetguest

United Venture SGR

Together Price

Prima Assicurazioni

Buzzoole

HAT Orizzonte SGR

Work highlights

  • Assisted Banca Monte dei Paschi di Siena with the sale of its Belgian subsidiary to Warburg Pincus-managed funds.
  • Advised Green Arrow Capital, an Italian private equity firm, on the acquisition of a majority stake in Labware, which is active in the restaurant point of sale market.
  • Acted for private equity company Consilium SGR, and the Celli family, on the sale to Ardian of beverage company Celli.

Pavia e Ansaldo

Pavia e Ansaldo is a natural choice for Italian private equity funds that frequently invest in established Italian companies, which operate in sectors including luxury goods, manufacturing and food. Stefano Bianchi leads the firm’s longstanding client relationship with City-based private equity firm Stirling Square Capital Partners and Giuseppe Besozzi is an experienced private equity lawyer. Private equity is also a major part of Alberto Bianco's corporate practice.

Practice head(s):

Stefano Bianchi

Testimonials

The practice is competent, available and quick to react.

A strong and quick team that always delivers and at a reasonable cost.

Giuseppe Besozzi is analytical, trustworthy and deals with problems speedily.

Alberto Bianco is a great dealmaker.

Key clients

Alcedo SGR

Arcadia SGR

Astorg Partners

Dea Capital Funds SGR

Devi Kroell

Equilybra

Ethica Global Investments

F2i Fondi italiani per le infrastrutture SGR

HIG Capital

Itago Partners

Italglobal Partners

Itelyum Regeneration

Litorina Capital Advisors

Orienta Partners

Quadriga Capital Beteiligungsberatung

Stirling Square Capital Partners

Surfaces Technological Abrasives

Synergo SGR

Tecno Pool

Xenon Private Equity

Work highlights

  • Assisted SM TopCo with its sale of Oleodinamica Marchesini to German private equity fund, Auctus.  
  • Advised Xenon Private Equity on its first-ever investment in the food sector.
  • Advised the European arm of US-based private equity and alternative investment firm, H.I.G. Capital, on its acquisition of three major Italian suppliers to the luxury fashion sector.

Carnelutti Studio Legale Associato

Focusing on cross-border M&A work for large investment funds, Carnelutti Studio Legale Associato's recent growth is evidenced by the promotion of Alessandro Asti to partner. Practice leads Carlo Pappalettera and Luca Arnaboldi specialise in structured finance transactions and M&A.

Practice head(s):

Carlo Pappalettera; Luca Arnaboldi

Testimonials

The Carneulutti law firm is made up of highly specialized professionals in various fields of law and this makes it a point of reference for various legal issues for international companies operating or having legal issues in Italy.

The professionals I have worked with have proven to be highly competent in the media sector, have proposed solutions and options on very complicated and unprecedented legal issues.

Francesco Francica is a great expert an exquisite person and a pragmatic professional.

Key clients

Progressio SGR

Snow Phipps Group LLC

FSI SGR SpA

F2i Sgr SpA

Hayrish Group

BF & F

Work highlights

  • Advised an asset management company on the purchase of 62% of the Farmacrimi group.
  • Acted for KOS on the acquisition of Charleston Holding.
  • Advised the Missoni family and Missoni S.p.A on the acquisition of an interest in Missoni S.p.A. by FSI.

CBA Studio Legale e Tributario

CBA Studio Legale e Tributario is most recognisable for the tax assistance it provides to private equity clients in relation to sales and acquisitions. The team is jointly headed by Luca Fabbrini and Nicola Canessa.

Practice head(s):

Luca Fabbrini; Nicola Canessa

Key clients

DEA Capital Alternative Funds SGR SPA 1

Overseas Industries S.p.A.

Fondazione Cassa di Risparmio della Spezia

Forniture Nautiche S.r.l.

Sicame SAS

RBS Retail Banking Services S.r.l.

Work highlights

  • Advised DEA on the agreement concerning a sale and transfer to Banca Interprovinciale SPA.
  • Advised Cassa di Risparmio della Spezia on the sale of 6% of the share capital of Dea Capital Real Estate SGR to DEA Capital S.p.A.
  • Carried out tax due diligence in relation to the acquisition of a minority participation in a group of companies operating in the digital health sector.

DWF

The team at DWF advises a range of corporate clients, private equity funds and commercial banks on all aspects of structuring sophisticated transactions. Practice leads Luca Cuomo and Michele Cicchetti specialise in M&A and corporate transactions.

Practice head(s):

Luca Cuomo; Michele Cicchetti

Testimonials

The trustworthy partners are very balanced and to the point.

A lot of good professionals with a high level of expertise.’

Key clients

Park Square Capital LLP

Headway Capital Partners LLP

Dr. Rothenberger Holding GmbH

VAM Investments Group S.p.A.

Astraco S.r.l.

Banca Imi S.p.A.

Finanziaria Internazionale SGR

Opera SGR S.p.A.

Eisvogel Group AG

Work highlights

  • Advised Astraco S.r.l. on the acquisition of the food retail operator Panini Durini.
  • Acted for VAM investments on a strategic partnership with The Tages Group.
  • Advised the shareholders of Giglio.com on the legal aspects of a minority investment by Equilybra S.p.A.

Freshfields Bruckhaus Deringer

La Torre Morgese Cesàro Rio

La Torre Morgese Cesàro Rio advises on leveraged buy-out and buy-in transactions, as well as investment transactions involving both majority and minority stakes.  Massimo La Torre and Roberto Rio jointly head the practice.

Practice head(s):

Roberto Rio; Massimo La Torre

Key clients

Freemont Management

Mandarin Capital Partners

Trilantic Europe

Waterland Private Equity N.V.

Work highlights

  • Advised Nidec Corporation on the divestment of the Secop Group to German private equity fund Orlando.
  • Acted for La Bottega Asia Ltd and La Bottega Trading (Shanghai) Co. on the acquisition by new investors of a stake in La Bottega Group.
  • Advised Holding Proterm on the investment in Proterm and Società Generale Servizi.

LCA Studio Legale

Active in the venture capital market, the team at LCA Studio Legale advises on every stage of setting up investment and financing structures, as well as assisting with LBOs and MLBOs. The team is jointly headed by Andrea Messuti, Vittorio Turinetti di Priero and recent addition Roberto de Bonis, who joined from DB & Partners in 2019. The trio have extensive experience of advising on cross-border M&A transactions in the private equity space.

Practice head(s):

Andrea Messut; Roberto de Bonis; Vittorio Turinetti di Priero

Key clients

Ethica Global Investments S.p.A.

Equilybra S.p.A.

Fondo Italiano d’Investimento SGR S.p.A.

Indaco Venture Partners Società di Gestione del Risparmio S.p.A.

Mansutti S.p.A.

H-Farm S.p.A.

Agrifarma S.p.A.,

AVM Gestioni SGR S.p.A.

Marcegaglia Grou

Work highlights

  • Advised Creative Ventures Srl on an investment agreement with the Elkann family related to Italia Independent Group.
  • Acted for Equilybra S.p.A. on a minority investment in Giglio.com S.r.l.
  • Advised Fondo Italiano d’Investimento SGR S.p.A on an investment in  Healthware Group.

McDermott Will & Emery Studio Legale Associato

McDermott Will & Emery Studio Legale Associato advises Italian and international clients active in a variety of industry sectors on cross-border and domestic transactions. Giancario Castorino leads the practice and counts some of the region's largest banks as clients. Enrico Raso handles matters from project structuring to the drafting and negotiation of the relevant agreements.

Practice head(s):

Giancarlo Castorino