NB Aurora, which holds 44,55% of Fondo Italiano di Investimento "FII" and PM & Partners have reached a binding agreement which provides for the sale to a company controlled by funds managed by A&M Capital Partners Europe of the entire share capital of La Patria, a company active in technological surveillance services which employs 270 people and has over 13 customers.
“FII and PM & Partners had co-invested in La Patria in 2012 by acquiring the majority of the share capital. In detail, the stake sold equal to 100% of La Patria, includes that held by FII equal to 32,4% (of which 14,4% pertaining to NB Aurora), that held by funds managed by PM&Partners SGR (equal also at 32,4%) and the remaining stake in the hands of the original industrial investors and the Chief Executive Officer Andrea Monti”, reads the company's note.
Going into the details of the operation, NB AUra will receive 6,1 million from the FII against an entry value (in transparency) in the financial statements of NB Aurora of 4,9 million for a capital gain estimated at 1,2 million. The total fair market value as at 31 December 2018 of the seven remaining equity investments in NB Aurora's portfolio (excluding Forgital for which a binding contract was signed) is equal to 58 million, of which 33 million relating to the investment made in Club del Sun and 25 million pertaining to the shares held through the investment in FII. The closing of the transaction is expected by the end of September.
“In 2012, we decided to join the historical shareholders of La Patria seeing great opportunities for consolidation in the private security sector in Italy where there is a high level of fragmentation with over 1.300 active companies. Thanks also to the inclusion of new managerial figures such as the Chief Executive Officer and the CFO, supported by the original shareholders led by Roberto Colli, La Patria is an excellent example of value creation through build-up by entering new unmanned geographical areas that have made it possible to increase its market share”, stated Stefano Tatarella of Neuberger Berman and Andrea Mugnai of PM&Partners.
