Hat Orizzonte invests €3m in Advice Group

The GP intends to support the company in its consolidation strategy within the Italian market, boost its expansion abroad and pursue a buy-and-build strategy. In addition, the fresh capital will be used to add new business units – sport, fashion and retail – to the three units already operational: consumer goods, insurance and finance.

Following the deal, Carlo Gotta, investment director at HAT Orizzonte, will take a seat on the company's board to support the management, which will continue to be led by CEO Fulvio Furbatto.

This is the second investment made by the GP via its Technology & Innovation fund, following the acquisition of Marval in October 2018. The vehicle was launched in July 2017 with a €100m target and held a first close on €32m in October 2017. Unquote understands that the GP expects to hit its target in a final close by June 2019.

Company
Established in 2006, Advice Group specialises in digital promotion, behavioural loyalty and community marketing. The company is headquartered in Turin with additional offices located in Lima, Peru, and Bogotá, Colombia, and employs 40 people. It expects to generate a 20% EBITDA margin from revenues of €8m in 2019.

People
Hat Orizzonte - Ignazio Castiglioni (CEO); Nino Attanasio (president); Carlo Gotta (investment director).
Advice Group - Fulvio Furbatto (CEO).

Advisers
Equity - Orrick (legal); KPMG (financial due diligence).
Company - Chiomenti Studio Legale (legal).

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• Topics
• Expansion
• Southern Europe
• Media
• Italy
• KPMG
• Orrick