Wise acquires Tatuus Racing

The company's founders, Gianfranco De Bellis and Artico Sandonà, have retained a minority stake in the business following the deal.

Financial details of the transaction are undisclosed, though Wise typically makes equity investments in the €5-20m range for companies with enterprise values ranging from €20-200m.

Capital for the transaction was drawn from Wisequity IV, a 2015-vintage vehicle that held a final close on its €215m hard-cap in March 2016 after six months on the road. The Tatuus deal is the fourth transaction made from the fund and comes shortly after it acquired bottle top producer Tapì from Gradiente.

Under its new ownership model, Tatuus will undertake an international acquisitive growth strategy. It will also look to develop additional relationships as preferred partner for motor-racing federations and promoters in the junior categories.

Company
Founded in 1980 and headquartered in Concorezzo, near Milan, Tatuus manufactures cars for the British Formula 3 Championship, USF 2000 Championship, Pro Mazda Championship, Road to Indy and various FIA Formula 4 championships worldwide. Its clients include Renault, Toyota, Honda, Abarth, Cosworth, Ford, Volkswagen and Mazda.

People
Wise – Fabrizio Medea (partner); Marco Mancuso (investment manager).
Tatuus Racing – Gianfranco De Bellis, Artico Sandonà (founders).

Advisers
Equity – DVR Capital, Nicola Gualmini, Stefano Baiardo, Matteo Dreon (corporate finance); Simmons & Simmons, Andrea Accornero, Moira Gamba, Nicolangelo del Rosario (legal); Spada Partners, Luca Guarna, Paolo Mandelli, Andrea Moretta (financial due diligence, tax).
Company – LCA Studio Legale (legal, tax).

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