Gyrus carves out PwC Italia's consulting business

Alessia Argentieri
04 June 2021

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Gyrus Capital has carved out the consulting business of PwC Italia.

The business, which will be rebranded, will continue to be led by its current management team, who will participate alongside Gyrus in the buyout.

Gyrus intends to expand the company's team and further broaden its product offering in Italy and internationally.

Based in Geneva, Switzerland, Gyrus is a private equity firm focused on transformational investments in businesses operating across the healthcare and sustainability sectors, with long-term, sustainable growth potential. Gyrus has a focus on complex transactions, with particular focus on corporate carve-outs and turnarounds.

The carve-out of PwC Italia's consultancy business follows the 2019 carve-out of occupational health, risk and safety consultancy DuPont Sustainable Solutions from EI DuPont de Nemours.

Gyrus recently also completed the carve-out of Corcym – a medical device company dedicated to addressing structural heart disease – from Nasdaq-listed LivaNova.

Company
PwC Italia's consulting business provides advice on transformation, technology, digitalisation and project management to the Italian public administration and public healthcare sectors.

The business employs 700 staff.

People
Gyrus Capital – Guy Semmens (managing partner).
PwC Italia – Giovanni Andrea Toselli (president, CEO).

Advisers
Equity – Arthur D Little (commercial due diligence); KPMG (financial due diligence); Pedersoli Studio Legale (legal); Studio Chiaravalli & Reali (tax); Fineurop Soditic (corporate finance); Insubriass (insurance due diligence).
Company – PwC Deals (financial due diligence); PwC TLS Avvocati e Commercialisti (legal, tax).