J Hirsch sells Clouditalia to F2i and Marguerite's Irideos

The GP carved out Clouditalia from Italian company Eutelia, which went into administration at the time, in a €15m deal closed in June 2012. J Hirsch invested in the business via its €270m ILP III fund.

Irideos, which is 78.3% controlled by F2i, 19.6% by Marguerite and 2.1% by minority shareholders, was established in August 2018 by merging four companies operating in the telecommunication business: MC-link, Big TLC, KPNQWest Italia and Enter.

Company
Established in 2012 and headquartered in Arezzo, Clouditalia Telecomunicazioni specialises in providing telecommunication and cloud computing services to SMEs. The company owns a 15,000-km optic fibre network and three data centres located in Rome, Milan and Arezzo. It employs around 250 staff. According to press reports, the company generated revenues of €115m in 2017.

People
Clouditalia – Marco Iannucci (CEO).

Advisers
Acquirer - Studio Giliberti Triscornia e Associati (legal); Lyra Partners (corporate finance); EY (tax).
Vendor - Studio Molinari e Associati (legal); Banca Akros (corporate finance); Studio BC& (tax).

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• Southern Europe
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• Italy
• EY (Ernst & Young)