Ambienta buys software provider Namirial

Unquote understands that the deal values the company at around €140m, which equates to approximately 10x its 2019 EBITDA.

The vendors are Namirial founders Enrico Giacomelli and Claudio Gabellini, who retain a combined 30% stake.

According to press reports, Namirial appointed financial adviser Klecha in 2018 to start the sale process, which attracted several investors, including Marlin Equity Partners and Clessidra. The sale did not go through and was subsequently put on hold for a few months. Ambienta entered into exclusive negotiations for the acquisition of the company earlier this year.

The GP invested in Namirial via its Ambienta III fund, which held a first and final close on €635m in May 2018, hitting its hard-cap and exceeding its original €500m target. 

Company
Established in 2000 and headquartered in Senigallia, Namirial specialises in developing software and providing IT services for e-signature, registered e-mail, e-invoicing and long-term digital archiving.

The company employs 430 staff and generates EBITDA of approximately €14m from revenues of around €47m.

People
Namirial – Enrico Giacomelli, Claudio Gabellini (co-founders).

Advisers
Equity – Gattai Minoli Agostinelli e Partners (legal); Bain (corporate finance); KPMG (operational due diligence); EY (financial due diligence).
Company – Studio Legale Ceccarelli e Silvestri (legal).

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