• EQUITA, THE LEADING INDEPENDENT INVESTMENT BANK IN ITALY, LISTED ON THE ITALIAN STOCK EXCHANGE AMONG THE COMPANIES IN THE “STAR” SEGMENT, SIGNS AN AGREEMENT TO ACQUIRE K FINANCE, AN INDEPENDENT CORPORATE FINANCE BOUTIQUE ACTIVE FOR MORE THAN 20 YEARS, THUS STRENGTHENING INVESTMENT BANKING ACTIVITIES AND ACCELERATING THE ACHIEVEMENT OF THE OBJECTIVES OF THE STRATEGIC PLAN
• BINDING AGREEMENT TO ACQUIRE 70% OF THE COMPANY WITH THE FOUNDING MEMBERS OF K FINANCE WHO WILL REMAIN CO-CEOs
• A TRANSACTION OF STRATEGIC IMPORTANCE DUE TO THE STRONG COMPLEMENTARITY OF K FINANCE ACTIVITY WITH THAT OF EQUITA IN TERMS OF CLIENT TYPE AND DEAL SIZE, AS WELL AS THE DEVELOPMENT OF POSSIBLE COMMERCIAL SYNERGIES
• WITH THE ACQUISITION OF K FINANCE, EQUITA CONSOLIDATES ITS POSITION AMONG THE TOP 10 M&A ADVISORS IN ITALY IN TERMS OF NUMBER OF DEALS, STRENGTHENS ITS MISSION TO SUPPORT ITALIAN ENTREPRENEURS AND TAKES A FUNDAMENTAL STEP TO ACHIEVE THE OBJECTIVES OF THE STRATEGIC PLAN TO 2022
K Finance, a company with more than twenty years of experience in Merger & Acquisition activities and founding partner of Clairfield International – a consolidated international M&A partnership present in 20 countries with 35 offices – boasts a solid track-record of M&A and corporate finance deals for Italian companies and private equity funds.
Giuseppe Renato Grasso and Filippo Guicciardi, founding partners of K Finance, commented: “Joining Equita is a source of great pride for us, an important step in the development of the company we created 21 years ago. We have spent our professional life explaining to our clients how important it is to grow to compete successfully in increasingly complex markets, so we have enthusiastically welcomed the proposal of our friends at Equita: together we will be stronger and able to meet all the extraordinary finance needs of our clients in Italy and abroad”.
Andrea Vismara, CEO of Equita, commented: “We are delighted to welcome Giuseppe, Filippo and all the colleagues from K Finance as partners who share our entrepreneurial vision and values. With this transaction, which represents a fundamental step towards achieving our 2020-2022 strategic plan objectives, we strengthen the Group’s position among the top 10 financial advisors in Italy in terms of number of M&A Advisory transactions, with the opportunity to develop interesting business synergies, supporting our clients and creating value for the Group’s shareholders”.
Equita was assisted by Dentons Studio Legale Tributario as legal advisor and by KPMG for the accounting and tax due diligence. Founding Partners of K Finance were assisted by Pedersoli Studio Legale for the legal matters and by Studio RDRA for the tax matters. Equita and K Finance were also assisted respectively by their internal M&A advisory teams to structure the transaction.
The transaction is expected to close by 30 July 2020.