21 Invest Acquires The Nice Kitchen
Deal News | Nov 18, 2024 | Legal Community Italy
In a strategic move, 21 Invest, an investment group led by Alessandro Benetton, has successfully acquired The Nice Kitchen, a prominent manufacturer of professional kitchen equipment including cooking, refrigeration, and dishwashing systems. This acquisition occurred in October, with the legal expertise of Simmons & Simmons and Hogan Lovells facilitating the transaction. The financing was structured with Crédit Agricole serving as the agent bank, alongside BNL, BPER, and Banca Sella providing senior financing, and Merito sgr contributing through a subordinated loan from its Merito Private Debt fund. The legal counsel for the financiers was provided by Simmons & Simmons, with a team including partner Davide D'Affronto and managing associate Maria Ilaria Griffo among others. Hogan Lovells offered legal assistance to 21 Invest, spearheaded by partner Mauro Saccani.
Sectors
- Private Equity
- Manufacturing
- Legal Services
Geography
- Italy – 21 Invest is based in Italy, and the acquisition of The Nice Kitchen took place within this geographical context.
Industry
- Private Equity – 21 Invest is a private equity firm that invests in companies to enhance their value.
- Manufacturing – The Nice Kitchen operates in the manufacturing sector, producing professional kitchen equipment.
- Legal Services – Legal services were provided by the law firms Simmons & Simmons and Hogan Lovells for the acquisition deal.
Financials
- Not specified – The financial details such as the acquisition cost or valuation were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 21 Invest | Buyer | Company | An investment group founded and led by Alessandro Benetton. |
| The Nice Kitchen | Target Company | Company | A manufacturer of professional kitchen equipment including systems for cooking, refrigeration, and dishwashing. |
| Crédit Agricole | Financier | Company | Served as the agent bank for the senior financing of the acquisition. |
| BNL | Financier | Company | Participated in the senior financing. |
| BPER | Financier | Company | Participated in the senior financing. |
| Banca Sella | Financier | Company | Participated in the senior financing. |
| Merito sgr | Financier | Company | Provided subordinated financing through its Merito Private Debt fund. |
| Simmons & Simmons | Legal Advisor to Financiers | Company | Provided legal support to the financiers during the acquisition. |
| Hogan Lovells | Legal Advisor to 21 Invest | Company | Provided legal support to 21 Invest for the acquisition. |