ATLANTE PRIVATE EQUITY AND FONDO ITALIANO DI INVESTIMENTO ACQUIRE STAKES OF GEICO-LENDER

 

The 9 million euro equity investment will be subscribed by Atlante Private Equity for 6 million and by Fondo Italiano di Investimento for 3 million

 

Milano, 3 May 2011 – The agreement involving the acquisition by Atlante Private Equity - private equity fund managed by IMI Fondi Chiusi SGR, company of the Intesa Sanpaolo Group - and Fondo Italiano di Investimento of stakes of Geico-Lender, company headquartered in Montesilvano (Pescara), has recently been signed.

 

The transaction involves a total investment of 9 million euro through capital increase, of which 6 million subscribed by Atlante Private Equity and 3 million by Fondo Italiano di Investimento, with the acquisition of a minority stake.

 

The company operates in the facility management sector and provides installation, management, specialised maintenance and integrated operation services for technological systems in residential and business properties. Established in 1989, it now boasts over 100 employees and turnover of approximately 17 million euro. In order to consolidate and increase its market share, the Abruzzo-based company has acquired, via introduction of the funds into its share capital, full control of Lender, a Padova-based company employing some 80 resources, with turnover of approximately 21 million euro in 2010.

 

The transaction aims at strengthening the activities of the pre-existing companies Geico and Lender in their respective markets by expanding activities to peripheral areas as well. The other goal is the access to major tenders and contracts thanks to the arger size and solidity in terms of potential customers. This has resulted in the creation of a unique entity in the sector of technological systems maintenance which, through its nationwide coverage, represents the best contact for those groups with real estate portfolios spread out throughout the entire country.

 

The intervention of Atlante Private Equity and Fondo Italiano di Investimento is aimed at encouraging the growth of Geico-Lender, which will have the opportunity to operate on a wider geographical scale and with greater negotiating power, as the two companies have a sufficiently diversified customer portfolio.

 

The Funds were assisted by KPMG TransactionServices and, as legal advisor, by Studio Ughi e Nunziante. Geico was assisted by the consulting firms Fredericks Michael & Co. Ltd., IntertaxCons and Radice, while Lender was assisted by Ethica Finance and Studio Balin e Associati.

 

For further information:

 

Intesa Sanpaolo

Media Relations - Corporate and Investment

Banking

Tel.: +39.02.87963531

stampa@intesasanpaolo.com

 

Fondo Italiano d’Investimento SGR SpA

Roberto Del Giudice

Tel. +39 02 63532.1

roberto.delgiudice@fondoitaliano.it