Sisal changes hands. The British financial company CVC Capital Partners has bought 100% of the Italian gaming group from the funds managed by Apax Partners, Permira and Clessidra. The transaction, which is expected to be finalized by the end of September, has an enterprise value of one billion euro. Morgan Stanley, Credit Suisse and Unicredit have provided debt financing in support of the transaction.
For CVC, led in Italy by Giampiero Mazza, this is the third major acquisition after Cerved, worth 1,13 billion, and Doc Generici, worth 650 million euros. CVC is already present in the gaming sector with strategic investments in Sky Bet (UK), Tipico (Germany) and William Hill.
“We are very happy to have the opportunity to invest in Sisal – commented Giampiero Mazza, partner and manager for CVC in Italy -. It is a well diversified company, with a historic brand in Italy and strong market positions in gaming, lotteries, betting and payment services. Thanks to the support of previous shareholders and under the guidance of Emilio Petrone and his management team, Sisal has been able to grow and reshape its business perimeter through a period of difficult macroeconomic conditions and regulatory uncertainty. Today Sisal is ideally positioned to pursue its growth in various areas. We will support Emilio and his team to consolidate leadership in the payments sector, to continue the development in its online platforms, and to further innovate its offer in neighborhood retail ”.
Founded in 1946, Sisal was the first Italian company active in the gaming sector as a state concessionaire. Through its network, made up of 45 points of sale, the company offers the public over 500 payment services and employs around 2 people.
“I would like to congratulate the entire CVC team in Milan for concluding an important acquisition – said Emilio Petrone, CEO of Sisal -. Sisal, which celebrates its seventieth anniversary this year, is a large Italian company experiencing a period of very strong growth and excellent results. I am sure that, with CVC, we will build a formidable team that will give Sisal the possibility of maximizing its potential, becoming even stronger and more competitive. Personally, I am thrilled to be leading this exciting new phase in the company's history. I want to thank Apax, Permira and Clessidra for the invaluable and constant support they have provided to me and to the company over the last few years”.
