The Saleri Family has subscribed € 8 million as its portion of the share capital increase remainin with 73,4% of SIL.
24 May 2018
Industrie Saleri Italo S.p.A. (SIL) is a European leader in the production of cooling systems for the automotive industry and reported consolidated revenues in 2017 of more than €160 million, over 90% of which generated abroad
The new funds will help to accelerate the Group’s growth plans and enable it to assess strategic acquisitions
SIL is aiming to list on the stock exchange within a period of two/three years
The Quaestio Italian Growth Fund, a closed-end fund managed by Quaestio Capital SGR (“Quaestio”) and focused on investing in mid-sized Italian companies listed or listing on the stock exchange, has completed its investment in Industrie Saleri Italo S.p.A. (“SIL”), a European leader in the design, development and production of cooling systems for combustion, hybrid and electric vehicle engines for the automotive industry.
The transaction took place through a capital increase of €23 million, of which €15 million was subscribed by the Quaestio Italian Growth Fund (which now holds 26.6% of the company’s share capital) and €8 million by the Saleri family, founder and leader of the Group, which holds 73.4% of the capital. The new resources will help to accelerate the Group’s growth plans and enable it to assess strategic acquisitions that can implement and consolidate its product range and strengthen its global geographical presence. SIL’s objective is to list on the stock exchange within a period of two/three years.
Industrie Saleri Italo S.p.A. is a European leader in the design, development and production of water pumps and cooling systems for the automotive industry. Founded in 1942 in Lumezzane (Brescia) it is a Tier 1 supplier of the main European and global automotive groups in the premium Original Equipment and Aftermarket segment. The Group employs more than 500 people throughout the world and reported consolidated revenues in 2017 of over €160 million, more than 90% of which generated abroad, with an EBITDA of over €20 million. In the last five years the Group has invested heavily to make its production activities increasingly efficient and automated (Industry 4.0). More than 15% of SIL’s staff are employed in the R&D department where they are involved in the design and manufacture of increasingly technologically advanced products, in line with the requests and evolution of the automotive industry. Investments in new products and processes have enabled SIL to triple its EBITDA over the past three years.
The Quaestio Italian Growth Fund, which is run by Alessandro Potestà, is one of the leading funds specifically focused on medium-sized listed Italian companies and has the possibility of investing up to 40% of its resources in unlisted companies which have ambitious growth plans and see the stock exchange as a decisive tool for medium- to long-term development. The Fund was set up because Quaestio believed that a number of mid-sized Italian companies, leaders in Europe or in the world in their respective sectors, represent excellent investment opportunities in the medium-long term. Quaestio Italian Growth Fund aims to be a partner, making a financial contribution but also assuming an active role in the creation of value, whose intention is to unlock the unexpressed potential of listed companies and support a new growth phase for as yet unlisted companies which set their sights on listing on the stock exchange in the medium term.
Quaestio Capital SGR is assisted by Pedersoli as legal advisor.
Industrie Saleri Italo S.p.A. was assisted by Matteo Cosmi, a partner of Fingiaco, as financial advisor and by Paolo Rusconi, a partner of RCC, as legal advisor.
Quaestio Capital SGR S.p.A. ufficializza l’adesione e l’impegno ad applicare e promuovere i Principi di Investimento Responsabile.
DeA Capital S.p.A. is entering the capital of Quaestio Holding with an interest of 44% to become its relative majority shareholder, alongside Fondazione Cariplo and the other “historic” institutional shareholders with the aim of strengthening the company and supporting its new phase of development.
New closing for the Quaestio Private Markets Funds – European Private Debt fund
Quaestio Capital Management SGR has today approved the signing of an agreement, on behalf of the Atlante II Fund, for the purchase of the portfolio of Euro 343 million of impaired loans held by Nuova Cassa di Risparmio di Ferrara S.p.A., the entity which arose following the resolution of the previous Cassa di Risparmio di Ferrara in November 2015.
The Fund’s intervention in purchasing the npls has been one of the decisive factors in arriving at a solution for MPS, as was also seen in the case of the good banks acquired by UBI and BPER.
Quaestio Holding SA (“Quaestio”) has signed an exclusivity undertaking with Cerved Information Solutions SpA (“Cerved”) for the negotiation of an agreement which contemplates an industrial partnership in special servicing activities.
The Board of Directors of Quaestio Capital Management SGR S.p.A. has calculated the value of the quota of the Atlante Fund and the Atlante II Fund at 30 June 2017.
The Fund is the largest investor in the non-performing loan market in Italy and among the biggest investors in the world, thus ensuring a strong Italian institutional presence in the industry.
The Fund’s involvement in the purchase of the non-performing loans is one of the determinant factors in the sale of the three banks to the Crédit Agricole Cariparma SpA.
The operation occurs through the Italian Recovery Fund and is one the key factors in the sale of the three banks to Crédit Agricole Cariparma SpA.
The operation was carried out through the Italian Recovery Fund and is one of the biggest ever performed in Europe.
Quaestio Capital SGR has further strengthened its management structure with the arrival of Ali Saad as analyst and Multi Asset manager in one of Quaestio’s main areas of activity.
Quaestio Capital SGR S.p.A. announces a new closing for its Quaestio Private Markets Funds – European Private Debt fund.
The information in this document is given for information purposes only and does not qualify as investment advice. Opinions and assessments contained in this document may change and reflect the point of view of Quaestio Capital SGR S.p.A. in the current economic environment and might change.
Copyright © 2019 Quaestio Capital SGR S.p.A. – All rights reserved. Copying or other reproduction of all or part of this document without the prior written consent of the copyright owner is prohibited.