Ardian backs FiloBlu

Alessia Argentieri
10 July 2018

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Ardian has acquired a minority stake in Italian digital consulting business FiloBlu from the company's founder and CEO Christian Nucibella, who retained the remaining majority holding.

Unquote understands that Ardian acquired a 23.8% stake via a capital increase and that it will appoint a member of the company's board to support the business in this new phase of expansion.

The company will use the fresh capital to increase its investments in research and innovation, and to expand its international presence and consolidate its market position abroad, especially in Asia, Russia and the US.

The GP deployed capital from its Ardian Growth Fund II, which held a final close on €230m in April, surpassing its €200m target. The fund provides equity tickets in the €5-25m range to digital businesses with a turnover of €5-100m.

Company
Founded in 2009 and headquartered in Venice, FiloBlu provides international companies and brands with digital consulting, marketing, communication and sales assistance, and technology integration. It has offices in Milan, Naples, Lugano, Prague, New York, Shanghai and Hong Kong, and a presence in 100 countries worldwide.

FiloBlu employs 120 staff and in 2017 generated revenues of €21m. The company expects to reach a turnover of €32m in 2018.

People
FiloBlu – Christian Nucibella (CEO, founder).
Ardian Growth – Laurent Foata (managing director); Bertrand Schapiro (senior investment manager).

Advisers
Equity – KPMG (financial due diligence); Studio Giovannelli e Associati (legal).
Company – Buttignon Zotti Milan & Co (financial due diligence); Studio Laghi Leo Spangaro (legal).