Cassiopea Partners acted as sole financial advisor to Eurizon ITEᴙ (“Eurizon”) infrastructure funds advised by ITEᴙ Capital Partners (“ITEᴙ”), in the acquisition of a majority stake in Trasporti Romagna S.p.A. (“Trasporti Romagna” or the “Group”), a leading T&L Italian group providing integrated transport and logistic services specialized in food (dry, fresh and frozen) and zootechnical products.
Founded in 1925 by Filiberto Romagna in Malo (VI), the Group is particularly active in the North-East of Italy, where it provides its services mainly to LSD and food players, especially for temperature-controlled products (fresh and frozen food chain). Trasporti Romagna operates through a fleet of approximately 1.000 trucks, of which over 60% owned, and a network of 30 logistics centres spread across the territory.
The transaction envisages the re-investment by the current CEO, also member of the founding family, Simone Romagna (app. 30%), and by Intesa Sanpaolo (app. 8%). Eurizon will retain a majority stake of app. 62%.
The new shareholder will continue to pursue a buy-and-build growth strategy, already successfully launched by Trasporti Romagna in recent years, combined with the organic development of its customer portfolio which sees the consolidated presence of important LSD brands as well as fruit and vegetable producers.
With this transaction, Cassiopea Partners further reinforces its experience in the infrastructure sector and ability to identify infra-light assets for its clients.
Alongside Cassiopea Partners, Eurizon was assisted by Studio Gattai Minoli Partners for the legal matters, by BCG for the business due diligence, by PwC for the financial due diligence, Studio Di Tanno for the tax due diligence, Marsh for insurance matters and by Protiviti for the ESG due diligence.