Costa Edutainment Strengthens Partnership with DeA Capital through €105 Million Loan
Deal News | Mar 21, 2025 | Finance Community IT - 3 Private Equity
Costa Edutainment has implemented a new corporate structure, enhancing its synergy with DeA Capital Alternative Funds SGR through a capital increase of €20 million. The operation was financed by a pool of banks, including BPM as the leader. The total loan value reaches €105 million, with €85 million allocated to repaying a convertible bond and acquiring a stake from the CCR II fund managed by DeA Capital Alternative Funds. As a result, Costa Edutainment's ownership structure now comprises a 70% stake held by the Costa family and a 30% stake by Flexible Capital. An additional €25 million will replace existing gross debt lines, and €15 million is earmarked for new investments and acquisitions. The operation underscores the strong relationship between DeA Capital and Costa Edutainment and signifies plans for further growth and acquisitions in the theme park sector.
Sectors
- Private Equity
- Theme Parks & Entertainment
- Banking & Finance
Geography
- Italy – Both Costa Edutainment and DeA Capital are based in Italy, and the transaction primarily impacts the Italian market.
Industry
- Private Equity – Involves DeA Capital Alternative Funds SGR investing in Costa Edutainment.
- Theme Parks & Entertainment – Costa Edutainment operates in the theme park sector, specifically aquariums and attraction sites.
- Banking & Finance – The transaction involves financial arrangements facilitated by a consortium of banks led by BPM.
Financials
- €105 million – Total value of the financial arrangement facilitated by various banks.
- €20 million – Capital increase realized by the Flexible Capital Fund.
- €85 million – Used to repay convertible bond and acquire stake from CCR II fund.
- €25 million – Allocated for replacing existing debt lines.
- €15 million – Earmarked for new investments and acquisitions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Costa Edutainment | Target Company | Company | A leading entity in the Italian theme park and aquarium industry. |
| DeA Capital Alternative Funds SGR | Investor | Company | Part of DeA Capital Group, involved in flexible capital investments. |
| Flexible Capital | Investor | Fund | A fund managed by DeA Capital investing in Costa Edutainment. |
| BPM | Lead Bank | Company | The lead bank in the consortium facilitating the financial operation. |
| Banca Monte dei Paschi di Siena | Bank | Company | Part of the financial consortium. |
| Banca Passadore | Bank | Company | Part of the financial consortium. |
| Cassa Depositi e Prestiti | Bank | Company | Part of the financial consortium. |
| Crédit Agricole Italia | Bank | Company | Part of the financial consortium. |
| BPER Banca | Bank | Company | Part of the financial consortium. |
| Pirola Corporate Finance | Financial Advisor | Company | Advised Costa Edutainment on financial and commercial aspects. |
| Molinari Studio Legale | Legal Advisor | Company | Provided legal advisory services for the transaction. |
| Legance | Legal Advisor | Company | Provided legal advisory services for the transaction. |
| Carbone D'Angelo Portale Purpura | Legal Advisor | Company | Provided legal advisory services for the transaction. |
| Pongiglione & Associati | Tax Advisor | Company | Handled tax-related matters for Costa Edutainment. |
| Giuseppe Costa | CEO & President | Person | The CEO and President of Costa Edutainment. |
| Federico Giribaldi | Managing Director | Person | Managing Director of the Flexible Capital Fund. |