we receive e we publish the following press release issued by N.B. Aurora.
NB Aurora SA SICAF-RAIF ( "Aurora“), a permanent capital vehicle listed on the Euronext MIV professional segment of Borsa Italiana, has signed a binding agreement for the transfer to Ca' Zampa Srl ( "Home Zampa"Or the"Group”) of his full shareholding in BluVet SpA ( "BlueVet”) as part of a comprehensive transaction for the sale of 100% of the share capital of BluVet, an Italian platform promoted by Aurora together with other co-investors and operating in the consolidation of veterinary clinics present on the Italian market. The share held by Aurora through the controlled vehicle Blu Club Srl and subject to the sale is equal to approximately 68,5% of the share capital of BluVet.
Ca' Zampa is a integrated veterinary clinic platform, promoted by some national investors and by the English fund G Square, and is among the main players in the sector in the Italian market.
The Group, resulting from the merger of the two companies, will have 48 veterinary clinics and hospitals.
The overall value of the sale transaction for Aurora and its co-investment funds is approximately 39,3 million euros, of which approximately 15,8 million euros pertaining to Aurora.
Aurora will reinvest, alongside other investors, in Ca' Zampa as part of a broader capital increase operation, at the end of which it will hold a minority stake. The operation, with this reinvestment, aims to support the future development of the Group, providing the resources necessary to continue the consolidation process in the reference market, aiming to become the leader in the Italian veterinary sector. The agreement provides for a reinvestment in Ca' Zampa by Aurora - together with its co-investment funds - for a total amount of approximately 9,3 million euros (of which approximately 5,2 million euros pertaining to Aurora).
Il closing of the transaction, subject to the fulfillment of the usual conditions precedent for similar transactions, is expected by January 2025.
Aurora was assisted by Vitale&Co (financial advisor) and ADVANT Nctm (legal advisor).
Founded in 2019, BluVet is a Italian platform for consolidation, through M&A, of the domestic market of veterinary clinics medium-large size. The initiative was sponsored by Aurora, together with established managers with many years of experience in the industry and a strong network in the Italian veterinary sector. Since its creation, the company has completed over 25 acquisitions of veterinary clinics, reaching a total turnover of approximately 2023 million euros in 33.
Ca' Zampa is an Italian hub of approximately 20 veterinary facilities which has developed both through the opening of greenfield structures and through the acquisition of clinics already present on the market, working on a project of strong integration of its network. The Ca' Zampa Group is promoted by Italian entrepreneurs and investors as well as by the G Square Capital fund.
“With BluVet – he underlines Patricia Micucci, Co-founder and Senior Partner of Aurora – we have built a group from scratch, created a management team, led a dizzying growth through acquisitions that in just four years has brought the number of veterinary clinics from 4 to 28 and the turnover to approximately 33 million euros. Among the projects completed, we are proud of the agreement to host the Teaching Hospital of the newly founded Faculty of Veterinary Medicine of the University of Rome Tor Vergata in the new headquarters of the Policlinico Veterinario Gregorio VII in Rome, a BluVet facility, one of the most important institutions at a national level”.
“In 2019 we invested in the so-called pet humanization, the growing trend – explains Mauro Facchini, Vice President of Aurora – to consider animals more and more part of the family, to have for them attention and care at a higher level than traditional pets. Now, with this operation, we will continue to carry forward our commitment to the further growth of the group”.
Aurora
Aurora is the first permanent capital vehicle listed in Italy on the Euronext MIV Milan – Professional Segment segment, created with the aim of making growth capital investments in unlisted Italian SMEs, channeling financial resources to support their growth and internationalization. Aurora's investment target is represented by excellent SMEs, leaders in market niches with high added value and growth potential, with a turnover between 30 and 300 million euros and a strong propensity for export. The Aurora team operates in a partnership perspective with entrepreneurs, supporting them in the realization of their medium-long term growth plans. The investment strategy is focused on five verticals: made in Italy, healthcare, environmental & sustainability, tech growth & digital transformation, specialized industrial manufacturing & business services. Aurora is invested in 13 companies with an aggregate turnover of Euro 2,6 billion and over 18.000 employees.
