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Private Equity
xenonpe.com

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Investments

3

Portfolio Exits

4

Funds

5

Service Providers

1

About Xenon Private Equity

Xenon Private Equity is a private equity firm specializing in leveraged buyouts, lower mid-market buyouts, add-on acquisitions, and replacement and growth capital investments. The firm focuses on the Italian lower/mid-market.

Xenon Private Equity Headquarter Location

Via Caradosso, 9

Milano, 20123,

Italy

+39 02 36519220

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Latest Xenon Private Equity News

Italy’s private equity and M&A weekly roundup

Aug 27, 2021

Eni Gas e Luce acquired Be Power, the owner of Be Charge, a network of recharging station for electric vehicles (see here a  previous post by BeBeez ). In May 2019, Be Power sold a 51% stake British private equity britannico Zouk Capital and 49% to Aretex Capital Partners. The company has sales of 62.4 million euros. Keensight Capital sold to Astorg its 23.98% stake in Demetra Holding, a producer of special resins which hired Rothschild as advisor (see here a  previous post by BeBeez ). In May 2016, Keensight Capital financed the foundation of Demetra Holding together with the FaccioliFamily who merged Tecres, an Italian biotech company, with the firm. Further owners of Demetra are Denis Faccioli (67.08%), and Massimo Grazioli. Lorenzo Zamboni, a partner of Astorg, said that the company’s shareholders will explore further M&A options. Benvic, a French producer of PVC that belongs to Investindustrial since 2018, acquired Chemres, an US-based chemical company, from Charter Oak Equity (see here a  previous post by BeBeez ). Luc Mertens is the ceo of Benvic while Paul Keimig is the founder and managing director of Chemres. WHP Global acquired the global branding right of Italian sportswear group Lotto Sport Italia (LSI) (see here a  previous post by BeBeez ). Mediobanca advised Lotto which fetched 50 million euros. The company has debt in the region of 100 million. F2i acquired 70% of ReLife, an Italian waste management company, from Xenon Private Equity and the Benfante, Ghigliotti and Malaspina Families who reinvested for a minority (See here a  previous post by BeBeez ). The asset attracted the interest of Antin Infrastructure Partners and Whitehelm. Xenon will keep 10% of ReLife, while the Families will hold 18% on the ground of an enterprise value of above 500 million euros. Public Investment Fund (PIF), the Saudi Arabia sovereign fund, acquired a 30% of PaganiAutomobili (see here a  previous post by BeBeez ). Nicola Volpi and Emilio Petrone are further minority owners of the company that the Pagani Family controls. The founder and ceo Horacio Pagani will keep his ceo role. UBS Investment Bank advised the vendors. Pagani Automobili has sales of 106.9 million euros, an ebitda of 42.2 million and net cash of 63.8 million. Stirling Square Capital Partners will reinvest in Itelyum, a waste management company, together with Deutsche Beteiligungs AG (DBAG), who will take a 30% (See here a  previous post by BeBeez ). In early 2020, Stirling Square hired Rotschild for selling a minority. Sources said to BeBeez that the asset also attracted the interest of Swiss Life, Space Capital and Blue Water among others. Itelyum has sales of 340 million euros and aims to generate a turnover of 420 million with an ebitda of 80 million, sources said to BeBeez. F2i acquired Ital Gas Storage (IGS) from Morgan Stanley Infrastructure Partners (See here a  previous post by BeBeez ). At the end of March, Macquarie Infrastructure Real Assets did not reach an agreement for acquiring the asset despite having obtained exclusivity talks in November 2020 with a bid of little above one billion euros. Morgan Stanley aimed to fetch 1.2 billion. Morgan Stanley Infrastructure Partners acquired 49% of IGS in August 2015 and increased its stake to 92.5% while Whysol kept 7.5%. Armònia and Azimut Libera Impresa acquired Induplast, an Italian packaging company that Europe Capital controls (See here a  previous post by BeBeez ). The asset’s value is of 140-150 million euros and attracted the interest of Fondo Italiano d’Investimento, Charterhouse and Ardian. Armònia and Azimut Libera Impresa will have 45% of Induplast each while the founders and the managers will hold 10%. Mario Musolino is the company’s ceo. Intesa Sanpaolo, Unicredit, Crèdit Agricole and Banco BPM financed the transaction. Induplast has sales of 40 million and an ebitda in the region of 14 million. Footballco, a football information platform that belongs to Integrated Media Company, a portfolio company of TPG Capital, acquired Italian website for football news Calciomercato.com from Carlo Pallavicino (80%) and Cosimo Baldini (20%)(See here a  previous post by BeBeez ). The transaction is worth 10 million US Dollars. Footballco could also acquire Ilbianconero.com, a website for the fans of Juventus. Calciomercato has sales of 2.09 million, an ebitda of little above 0.4 million and net cash of above one million. Alessandro Scala and Roberto Grattacaso founded The Wave, a Luxembourg-based private equity (See here a  previous post by BeBeez ). The fund will target Italian smes operating in the fields of mobility, technology, welfare, and insuretech. FSI is mulling for a sale of its 28.1% of Adler Group, an Italian producer of automotive components (See here a  previous post by BeBeez ). Rotshchild is sounding the interest of private equity funds and of Asian peers. FSI invested in Adler in April 2018 and acquired a minority of the company from the Scudieri Family. Adler has sales of 1.17 billion euros and an ebitda of 137.6 million. Joseph Tacopina and M Patrick Carroll led a pool of investors that acquired Italian football team Spal (See here a  previous post by BeBeez ). Earlier in August, the club sold a 49% to the newco Tacopina Italian Football Investment which will acquire the remaining 51% in January 2022. Vetroresina, a producer of glass for industrial use that belongs to the Colombarini Family, sold a 90% of Spal. Walter Mattioli sold his 10%. Spal has sales of 64.3 million euros, an ebitda of minus 40 million, losses of 1.6 million, and a net financial debt of 9.5 million. Intesa Sanpaolo acquired a 15.78% of private equity and venture capital Futura Invest through the subscription of a capital increase and cash payment on the ground of a pre-money value of 31.2 million (See here a  previous post by BeBeez ). Gianluigi Costanzo is the chairman of Futura Invest which belongs to Fondazione Cariplo (48.59%), Fondazione Enasarco (14.8%), Mediolanum Vita (1.68%), State Street (1.68%), and Finprog Italia (1.62%). Unigasket, a producer of industrial pipes of Palladio Holding (PFH – 75%) and Vittorio Calissi (25%), acquired a controlling stake of Polyfluor Plastics, a Dutch competitor from Eric Wetzel and Michael Laros (See here a  previous post by BeBeez ). Polyfluor Plastic has sales of 12 million euros. In 2018 PFH acquired its stake in Unigasket for 30 million. Unigasket has a turnover of above 50 million Telepass, an Italian provider of payment tools for motorways that belongs to Atlantia (51%) and Partners Group (49%), acquired Wise Emotions, a developer of mobile driven digital products (See here a  previous post by BeBeez ). Marco Cavone (ceo), Raffaele Bisogno and Federico Crisafulli founded Wise Emotions. Telepass will integrate the target for creating Telepass Digital. The acquisition of WIse Emotions increases the enterprise value of Telepass ahead of the IPO on Milan market by 2024.

Xenon Private Equity Investments

3 Investments

Xenon Private Equity has made 3 investments. Their latest investment was in Koverlux as part of their Secondary Market on December 12, 2019.

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Xenon Private Equity Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/12/2019

Secondary Market

Koverlux

Yes

1

12/17/2012

Private Equity - II

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$99M

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10

1/1/2011

Private Equity

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$99M

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10

Date

12/12/2019

12/17/2012

1/1/2011

Round

Secondary Market

Private Equity - II

Private Equity

Company

Koverlux

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Amount

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

Xenon Private Equity Portfolio Exits

4 Portfolio Exits

Xenon Private Equity has 4 portfolio exits. Their latest portfolio exit was De Wave Group on October 30, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/30/2019

Acq - Fin - II

1

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

Date

10/30/2019

00/00/0000

00/00/0000

00/00/0000

Exit

Acq - Fin - II

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Companies

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Valuation

Acquirer

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Sources

1

10

10

10

Xenon Private Equity Acquisitions

14 Acquisitions

Xenon Private Equity acquired 14 companies. Their latest acquisition was GN Techonomy on June 25, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/25/2021

Acq - Fin

1

5/18/2021

Acq - Fin

2

12/2/2019

Acq - Fin

1

11/26/2019

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$99M

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10

11/8/2019

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$99M

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10

Date

6/25/2021

5/18/2021

12/2/2019

11/26/2019

11/8/2019

Investment Stage

Companies

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Valuation

Total Funding

$99M

$99M

Note

Acq - Fin

Acq - Fin

Acq - Fin

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Sources

1

2

1

10

10

Xenon Private Equity Fund History

5 Fund Histories

Xenon Private Equity has 5 funds, including Xenon Private Equity Small-Cap Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/5/2021

Xenon Private Equity Small-Cap Fund

$103.28M

2

5/1/2019

Xenon Private Equity VII

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$99M

10

7/18/2014

Xenon Private Equity VI

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$99M

10

7/18/2014

Xenon Private Equity VI

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$99M

10

10/6/2009

Xenon Private Equity V

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$99M

10

Closing Date

5/5/2021

5/1/2019

7/18/2014

7/18/2014

10/6/2009

Fund

Xenon Private Equity Small-Cap Fund

Xenon Private Equity VII

Xenon Private Equity VI

Xenon Private Equity VI

Xenon Private Equity V

Fund Type

Subscribe to see more

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Subscribe to see more

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Status

Amount

$103.28M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

Xenon Private Equity Service Providers

1 Service Provider

Xenon Private Equity has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Acq - Fin

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Acq - Fin

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

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