Banca Ifis continues its commitment to support local SMEs, which in the last three years have received a total of 800 million euros in disbursements from the Veneto bank, through structured finance and private equity transactions in order to support the path of growth and innovation . The last operation concerns the purchase of 70% of Pietribiasi Michelangelo, a Vicenza-based company active in the production of plant and machinery for the agri-food industry: it was completed by Deal Source Italia, an advisory company in which Banca Ifis is the main institutional investor.
The investment objective of the club deal (in addition to Banca Ifis as anchor investor, Banca Patrimoni and the entrepreneurs Domenico Catanese, Germano Fanelli, Samuele Mazzini, Rossella Po, as well as the Turin Investor Club are participating) is to support the current management in the growth project both organically and through the aggregation of other complementary realities, through the financial and industrial skills of Deal Source Italia and its network.
Founded in the 60s, Pietribiasi Michelangelo, based in Marano Vicentino, is a small Italian excellence active in the production of plant and machinery for the dairy sector (milk and cheese, butter, yoghurt and fermented products), for the production of juices and soft drinks, ice cream and beer. Mario Pietribiasi, already a shareholder together with his brother Antonio of the company, has reinvested 30% in the operation and will continue to lead the company whose board of directors includes Sergio Buonanno, Daniela Ingrosso and Samuele Mazzini to give their contribution in the strategic choices and in business development activities.
In 2019 the company achieved a turnover of approximately 11 million euros, almost 90% achieved outside Italy, with an EBITDA margin above 20% and positive cash flow generation. “The decision to have a new financial partner join us – commented Mario Pietribiasi – was born from the need to have further support to continue the growth process that began a few years ago. In Deal Source we found a team of people who immediately shared our philosophy and long-term vision".
“Pietribiasi Michelangelo – he added Sergio Buonanno, President of Deal Source Italy – represents the first investment in a club deal organized by Deal Source Italia. Our aim is to make another 4-5 investments in the next three years, in order to prepare the target companies within 3-4 years for a subsequent development phase to which larger private equity players, interested in acquire realities that are more structured and managerial than those we acquire initially. In between is our work and our creation of value”.
