Aksìa's Covisian buys CSS

As part of the deal, the CSS management team will continue to lead the business. Through the acquisition, Covisian aims to boost its position in the credit collection market. According to a statement, the transaction is part of Covisian's expansion strategy across the Italian market.

Previous funding
In January 2016, Aksìa acquired and merged contact centre companies Contacta and Visiant Contact through simultaneous management buyouts and subsequently renamed the group Covisian. As part of the transaction, the GP retained a 55% stake in the merged business, while existing shareholders of the two target companies acquired the remaining 45% stake.

Company
Founded in 1993 and headquartered in Beinette, near Cuneo, CSS operates in the credit collection and litigation management markets. The company employs 260 people and in 2015 posted €10m in revenues with a 16% EBITDA margin, according to a statement.

People
Covisian – Ruggero Maria Verazzo (CEO).
CSS – Gianni Ampirino (founder).

Advisers
Acquirer – EY (financial due diligence); Fineurop Soditic (corporate finance); Studio Accinni Cartolano e Associati (legal); Studio De Luca & Partners (other due diligence); Studio Russo De Rosa e Associati (tax).
Company – Studio Benessia Maccagno e Bassilana (legal).

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