Apax opens Milan office, appoints Revel-Sillamoni as head

The office will be located in Piazza del Liberty in Milan and led by Francesco Revel-Sillamoni, who joined Apax Partners in 2012.

In his new role, Revel-Sillamoni will be supported by Francesco Panfilo, who has been appointed senior adviser. Panfilo is currently member of the executive boards of Benetton, Olimpias, Coster Tecnologie Speciali and Elemaster, and chair of Panakes Partners. He will continue to hold these positions alongside his new role at Apax.

Unquote understands that the Italian office will be focusing on closing new deals primarily in the consumer and financial sectors, targeting companies with annual revenues between €60-70m, which is slightly smaller than the firm's usual target in the more developed French market.

According to Apax, Italy represents a core market for the GP, which has already closed a number of acquisitions in the country in recent months.

In March, the firm made its first direct investment in Italy by buying consulting company Business Integration Partners from Argos Soditic, in a deal that valued the business at €200m. Prior to this, the firm made two bolt-ons in Italy in 2016: the acquisition of telecommunications and navigation systems specialist Telemar by Marlink, and the add-on of jewellery retailer Stroili Oro, bought by Thom Europe.

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