Mediobanca acquires Arma Partners

Mediobanca said in a press release that adding the technology practice will reinforce its advisory capabilities for its investment bank and wealth management clients and increase its reach in Europe and the US. 

Arma will continue to be independently managed, led by managing partner Paul-Noël Guély and in close coordination with Francisco Bachiller and Giuseppe Baldelli, co-heads of global CIB for Mediobanca. 

The deal is consistent with the buyer's goal to achieve a capital-lighter investment arm and add around USD 100m in revenues, increasing the iinvestment banking fee pool by 30% and the overall fee pool by more than 10%. 

It comes at a time when investment banking fees have fallen sharply alongside a fall in dealflow and private equity fundraising. However, Arma said in a statement that it saw a third consecutive record financial year in 2022. 

Arma said it was able to achieve this against the "challenging market backdrop" due to its "granular domain knowledge" across the digital economy. In the past year, it also grew from 80 to more than 100 people. 

Larger investment banks, including Nomura and Goldman Sachs, have been making layoffs to contend with the fall in fees, according to media reports. 

Arma Partners is particularly active in software, cloud services, data, internet and fintech. Some of its current mandates include Warburg Pincus' supply-chain software company Once For All and Accel-KKR's enterprise resource planning group Kerridge Commercial Systems. 

Founded in 2003, Arma Partners is headquartered in London and has a presence in Germany and the US, as well as affiliate relationships with specialist advisory firms in Japan, Australia, Israel, Turkey and Brazil.

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