Italmobiliare offers to buy majority stake in Clessidra for €16m

According to a statement, the negotiations are for 100% of the business. The founding Sposito family owns a 79% stake in the business, while the remaining 21% is in the hands of the management team. According to press reports, the deal would be valued at more than €16m.

Rothschild is acting as a placement agent, while Studio Lombardi Molinari Segni is legal adviser.

Italmobiliare is controlled by the Pesenti family, which owns a 47% stake in the business, alongside the Stazzera family with a 10.3% stake and Mediobanca with 9.5%. The holding company currently manages €2bn of assets in the industrial, financial and debt sectors.

Italmobiliare's bid for Clessidra is part of its intent to diversify its portfolio by increasing its investment in the private equity industry. The bid follows the group's sale of a 45% stake in Italian concrete producer Italcementi to Heidelberg Cement, which according to press reports provided the holding company with high liquidity.

Clessidra entered a period of uncertainty after the untimely death of founder and CEO Claudio Sposito in January 2016. In March 2016, negotiations failed between the Sposito family and Clessidra chair Francesco Trapani for the acquisition of a majority stake in the company.

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• Topics
• GPs
• Southern Europe
• Clessidra Capital Partners
• Italy