DBAG opens Milan office, hires Revoltella

Revoltella was partner and the co-head of industrial technology at Switzerland-headquartered Capvis prior to joining DBAG's Italian subsidiary. He also has prior experience with Argan Capital.

In his new role, Revoltella will work with DBAG senior adviser Antonio Corbani, who will continue to assist the GP with the evaluation of investment opportunities in Italy.

The GP intends to provide growth equity for family-owned businesses, focusing on B2B models and supporting companies with international and national expansion via buy-and-build strategies. DBAG said in a statement that its ability to make longer-term investments via its listed structure means that it can offer more options for such businesses.

DBAG announced the final close for DBAG Fund VIII in May 2020 on EUR 1.1bn. The fund continues the GP's strategy of investing in mid-market companies, generally deploying equity tickets of EUR 40m-100m for deals with an enterprise value of EUR 75m-250m.

Although the vehicle predominantly invests in the DACH region, up to a third of the fund's capital can be invested in Italy, corresponding to up to EUR 300m in equity, the GP said in a statement.

DBAG has made two platform investments in Italy to date. The GP acquired PM Plastic Materials in August 2020, investing via its 2016-vintage DBAG VII vehicle. The GP invested in Stirling Square Capital Partners' Itelyum in August 2021, as reported, deploying equity via DBAG VIII.

The news comes shortly after special situations and carve-outs specialist Aurelius announced the opening of an office in Milan, hiring Alvarez & Marsal's Ludovico Denza as managing director, as reported.

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