NB and Apax buy stake in Engineering Ingegneria Informatica

NB Renaissance and Apax bought the stake at €66 per share, representing a 18.1% premium. Apax invested through its vehicle Apax VIII.

Once finalised, the purchase will lead to the launch of a mandatory takeover of the company. As part of the deal, the management team will be confirmed. After the mandatory takeover, Cinaglia will remain shareholder of the company and retain a 12.2% stake.

Company
Engineering Ingenieria Informatica is an Italian business focused on the technology sector, providing software and IT services, including business integration, outsourcing and consulting.

The company was founded in 1980 in Padua, Italy, and employs 7,800 people across Italy, Belgium, Serbia, Norway, South America and the US. In 2014 the company generated revenues for €853m.

People
Engineering Ingegneria Informatica – Michele Cinaglia (founder, chair); Paolo Pandozy (CEO); Armando Iorio (CFO).

Advisers
Equity – Banca Imi (Financial due diligence).
Equity (NB) – Gatti Pavesi Bianchi Studio Legale Associato (Legal).
Equity (Apax) – Clifford Chance (Legal).
Company –  Accini Cartolano e Associati (Legal); Legalitax (Tax).

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• Topics
• Expansion
• Technology
• Southern Europe
• Italy
• Apax Partners
• Internet