(Tiper Stock Exchange) – San Quirico (historic holding company owned by the Garrone and Mondini families), Xenon Private EquityAmbria Holding and the current minority shareholders have subscribed a investment contract for the purchase of MinervaHub, an Italian group active in the sector of finishes and materials for luxury accessories. Upon completion of the transaction, San Quirico will hold approximately 75% of the capital, while the remaining approximately 25% will be held by Xenon jointly with other co-investors.
Matthew Marzotto he will maintain his position as president of MinervaHub, which has revenues of over 170 million euros, a portfolio that includes over 1000 customers including 20 of the top luxury brands, and over 700 direct employees.
The operation – reads a note – intends to allow MinervaHub to continue to grow also through new acquisitionsaimed at strengthening production capacity and expanding the portfolio of products and services offered, with the ultimate goal of implementing a productive and creative Made in Italy industrial reality at the service of the main Italian and international luxury brands.
“I am happy and proud that an investor of the caliber of San Quirico, with its entrepreneurial and industrial history, is seizing the potential of MinervaHub as a primary, unprecedented supply platform for top-of-the-range accessorieswith its formidable artisan-industrial skills”, commented Marzotto.
Xenon Private Equity, alongside MinervaHub since 2019, continues “to strongly believe in the further growth of MinervaHub and for this reason we are very happy to be able to continue to be an active part of the company structureand give our contribution mainly in the area of M&A”, said CEO Franco Prestigiacomo.
Advisors of the transaction were Rothschild & Co, Deloitte, Pavia e Ansaldo, Gelmetti e Associati for the selling shareholders. BNP Paribas, KPMG, LEGANCE Avvocati Associati, LTP/OC&C, PwC and Rina Services for SQ. A pool of banks consisting of Unicredit, BNP Paribas, BPM desk, Banca Intesa, Credit Agricole will finance the acquisition operation, also making financing lines available for future acquisitions.