Clessidra buys Coefi from Archeide

The deal will be partially financed with a capital increase of up to €6m, Unquote understands.

Clessidra is currently investing via its third fund, Clessidra Capital Partners III, which held a final close on €607.3m in December 2016. The GP is also preparing the launch of its fourth buyout fund, which will have a target of around €600m and will start fundraising in the coming months.

Coefi is an exit for Archeide's first fund, a €10m vehicle that is now fully divested. The GP backed the company in 2012 and supported its growth across the credit management market. With this sale, which will close next week, Archeide has reaped a double return on the investment.

"This sale represents a great success for us, especially considering the hostile exit environment that has been created by the coronavirus pandemic," Alessandro Bruscagin told Unquote. "In the coming months, we will focus on our second fund's portfolio companies and on the fundraising of our new venture capital fund."

Archeide was founded by former Banca Generali consultant Alessandro Bruscagin in 2012. The firm is based in Luxembourg and has raised two funds so far, while a third vehicle is currently fundraising.

Company
Coefi is a factoring company that specialises in credit management. The business is headquartered in Castelfranco Veneto, with additional offices in Milan, Turin and Pescara.

Coefi generates turnover of around €55m, Unquote understands.

People
Archeide Lux – Alessandro Bruscagin (CEO).
Coefi – Mattia Serena (CEO).

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