Bregal Milestone backs Italian gift cards provider Epipoli

The GP acquired a 30% stake in the company by deploying capital from its Bregal Milestone Fund, a €400m vehicle that was closed in July 2018.

The fund targets non-controlling positions in European companies primarily operating in the technology, healthcare, consumer and business services sectors. It invests between €20-60m per company structured as growth capital, debt or equity. This is the fourth investment made by the fund and the first acquisition inked in Italy.

The GP will partner with Epipoli CEO and founder Gaetano Giannetto and his team to consolidate the company's market position, further accelerate its growth and support its international expansion.

Company
Established in 2000, Milan-headquartered Epipoli is a gift cards and prepaid cards provider and customer engagement specialist. The company serves 250 corporate clients, has 50,000 points of sale, including 5,000 large retailers, and claims that around 4 million consumers use its services. Epipoli generates revenues of around €50m.

People
Epipoli – Gaetano Giannetto (founder, CEO).
Bregal Milestone – Philippe Lautenberg (managing partner).

Advisers
Company – Inside Partners (corporate finance); Baker McKenzie (legal).
Equity – DLA Piper (legal); McKinsey & Co (financial due diligence); KPMG (corporate finance); Kirkland & Ellis (legal).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Bregal Investments
• Italy
• DLA Piper
• KPMG