TPG – SCOUTING CAPITAL ADVISORS IS THE EXCLUSIVE ADVISOR IN THE TRANSACTION WHICH SEES THE ENTRY OF SMART CAPITAL S.p.A AND VSL CLUB S.p.A. IN MIDOLINI F.LLI S.p.A
- Milan, 15 September 2022 – Smart Capital S.p.A (Smart Capital), an industrial holding company with permanent capital specialised in Private Equity and Private Investments in Public Equity and VSL Club S.p.A. (VSL Club), an investment and advisory company specialised in club deals in the maritime logistics sector, announce that they have signed a binding commitment relating to the acquisition of 43.66% of the share capital of Midolini F.lli S.p.A. (Midolini), excellence in North East Italy active since 1950 in special lifting, handling, loading and unloading services in port activities and in integrated logistics. Based in Udine, Midolini operates mainly in the ports of Trieste, San Giorgio di Nogaro, Monfalcone and Porto Marghera.
- The transaction has been carried out through the organisation of a “club deal” led by Smart Capital and is an expression of Midolini’s willingness to support over time the implementation of an ambitious growth plan, both organically and through a number of targeted acquisition transactions, which could lead in the future, if the conditions are met, to its listing on the Euronext Milan market. VSL Club, co-investor in the transaction alongside Smart Capital, will also provide strategic and business support thanks to its specialised know-how in the reference sector, with unique vertical skills in the Italian panorama.
- In 2021, Midolini generated an aggregate turnover of about EUR 26 million with a normalised Ebitda of about EUR 5.7 million. Based in Udine, the Group operates mainly in the ports of Trieste, San Giorgio di Nogaro, Monfalcone and Porto Marghera, representing one of the main port operators in the North-East Italian area thanks to the offer of its logistics and lifting services to the main steel, manufacturing, chemical and shipbuilding industries both inside and outside the ports.
- The transaction saw STPG, through STPG – Scouting Capital Advisors, play the role of joint financial advisor with the involvement of a team leaded by Managing Director Roberto Francani, Senior Associate Elena Dal Pozzo and Analyst Eleonora Preto, with the supervision of Managing Partner Marco Musiani,.
- LMCR Law Firm, with Partner Elmar Zwick and Senior Associate Elisabetta Pero, handled all legal aspects of the transaction, including due diligence, on behalf of the purchasers.
- VSL Club handled the business due diligence aspects with a team composed of Managing Director Fabrizio Vettosi, Partner Ciro Russo and Analysts Maria Laura Mattioli and Angelo Torchio.
- The financial and tax due diligence was carried out by Crowe Bompani S.p.A. with a team composed of Executive Managing Partner Giovanni Santoro, Associate Partner Giorgio Solbiati, Manager Fabio Sala and tax expert Paolo Comuzzi. Greco Vitali Associati Studio Legale, with Partner Matteo Vitali and Senior Associate Matteo Miramondi, handled all legal aspects of the transaction on behalf of the sellers. Finally, the tax and structuring aspects of the transaction were handled by Studio Palumbo & Partners, under the guidance of Partner Ugo Palumbo together with lawyer Francesco Arlati.