Vam, Adon buy Sicurezza e Ambiente

Banco BPM and Illimity provided a debt package to support the transaction.

Following the deal, Carlo di Biagio, former CEO of Ducati and Fiorucci and former Europe chief financial officer of Procter & Gamble, was appointed as president to support CEO Giovanni Scognamiglio, who will continue to lead the company.

Vam and Adon intend to boost the company's growth and its expansion in the road maintenance sector across Italy.

Vam is a private equity firm dedicated to buyout and growth capital investments, with a focus on the consumer, retail, industrial and luxury fashion sectors. It targets businesses generating EBITDA of €4-25m, primarily based in Italy. It usually invests on a deal-by-deal basis, providing tickets of €10-100m. 

Vam is led by CEO Marco Piana, controlled by chair and shareholder Francesco Trapani, and participated by asset management firm Tages.

The investment in Sicurezza e Ambiente follows another deal closed by Vam this week, the acquisition of three Italian clothing companies, Giuntini, Ciemmeci Fashion and Mely's Maglieria, which were merged into a new entity named Florence.

Adon Capital specialises in club deal investments across several asset classes, including private equity, real estate and special situations. The firm was established in 2016 by Kamal Tabet and RiverRock.

Company
Established in 2006 and headquartered in Rome, Sicurezza e Ambiente is a road maintenance and safety company, specialising in cleaning, repairing and preserving roads after car accidents.

The company currently offers its services in 35% of the Italian highway network, working on road maintenance in numerous cities across the entire country, including Milan, Turin, Naples, Bari and Catania.

Sicurezza e Ambiente generated EBITDA of around €6m from revenues of €18m in 2019.

People
Vam Investments – Marco Piana (CEO); Francesco Trapani (chair).
Adon Capital – Luca Liberali (partner).
Sicurezza e Ambiente – Carlo di Biagio (president); Giovanni Scognamiglio (CEO).

Advisers
Equity – Banca Akros (corporate finance); EY (financial due diligence); Oliver Wyman (commercial due diligence); Grimaldi Studio Legale (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Southern Europe
• Industrials
• Infrastructure
• Italy
• EY (Ernst & Young)