Alcedo backs cybersecurity specialist NetHive

The GP invested in the company via a capital increase and the purchase of shares from NetHive's founders, Alessandro Bellato and Diego Rocco.

Following the deal, the two founders will retain a combined 47% stake in the company and continue to lead the business as co-CEOs.

NetHive is the 10th investment inked by the GP via Alcedo IV, which closed on €195m in May 2016. The firm recently launched a new vehicle, Alcedo V, with a €215m target.

Alcedo typically invests equity tickets of around €15-20m in Italian companies with high-growth potential and an export-orientated approach. 

With Alcedo's support, NetHive intends to boost its international expansion in new markets and geographies, further develop its proprietary software, and pursue a buy-and-build strategy with potential acquisitions of complementary businesses.

Company
Established in 2014, NetHive specialises in systems integration and cybersecurity, offering its tools and services directly and through a network of partners, across the telecommunications, public administration, banking, insurance, and industrial sectors.

NetHive is headquartered in Limena, with an additional R&D-dedicated facility located in Padua and a data centre based in Milan.

Employing 30 staff, the company expects to generate revenues of €8m in 2021, 70% up on 2020.

People
Alcedo – Marco Guidolin (partner).
NetHive – Alessandro Bellato, Diego Rocco (co-founders, co-CEOs).

Advisers
Equity – Deloitte (legal); Klecha & Co (commercial due diligence); Adacta Advisory (financial due diligence); Adacta Tax & Legal (tax); ERM (ESG due diligence).
Company – Belluzzo Mercanti Studio (legal, tax); Pheonix Capital (corporate finance).

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• Topics
• Expansion
• Southern Europe
• Technology
• Alcedo SGR
• Deloitte
• Italy