Cube Cold Acquires Sottozero from Azzurra Holding
Deal News | Dec 04, 2024 | Finance Community IT - 3 Private Equity
Cube Cold, a leading pan-European platform in refrigerated warehousing controlled by I Squared Capital, has acquired Sottozero, a refrigerated and temperature-controlled warehouse manager based in Cremosano, from Azzurra Holding. The acquisition was advised by several key players. Arcadia Financial Advisors acted as the financial advisor for the seller, Azzurra Holding, with a team consisting of Piercesare Villa, Riccardo Barbera, and Stefano Morelli. Chiomenti provided legal assistance to I Squared Capital and Cube Cold, covering corporate aspects, administrative and urban law profiles, labor law aspects, financial documentation, compliance, real estate, privacy, and IP/IT law profiles. Mainini & Associati supported Cube Cold in the preliminary phase, offering strategic support in identifying the target and initial discussions with Sottozero's management. Additionally, Grimaldi Alliance advised the seller on the legal aspects of the operation.
Sectors
- Infrastructure
- Logistics & Warehousing
- Legal Advisory
Geography
- Italy – Sottozero, the target company, is based in Cremosano, Italy, and several advisory firms are Italian, indicating the geographic focus of the deal.
- Europe – Cube Cold is described as a pan-European platform and I Squared Capital as a global player in infrastructure, suggesting a broader European focus.
Industry
- Infrastructure – I Squared Capital is noted as an independent global investor in the infrastructure sector, which is relevant as Cube Cold operates refrigerated warehouses.
- Logistics & Warehousing – Both Cube Cold and Sottozero are involved in refrigerated warehousing, making this industry classification pertinent.
- Legal Advisory – The involvement of legal advisors Chiomenti, Mainini & Associati, and Grimaldi Alliance underscores the legal advisory industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cube Cold | Bidding Company | Company | A leading pan-European platform in the refrigerated warehousing sector, controlled by I Squared Capital. |
| Sottozero | Target Company | Company | A manager of refrigerated and temperature-controlled warehouses based in Cremosano, Italy. |
| Azzurra Holding | Selling Company | Company | The company that sold Sottozero to Cube Cold. |
| I Squared Capital | Investor | Company | An independent global investor in the infrastructure sector, controlling Cube Cold. |
| Arcadia Financial Advisors | Financial Advisor | Company | Provided financial advisory services to Azzurra Holding in this transaction. |
| Chiomenti | Legal Advisor | Company | Advised I Squared Capital and Cube Cold on corporate, administrative, labor, compliance, and other legal aspects. |
| Mainini & Associati | Strategic Advisor | Company | Supported Cube Cold in the preliminary phase of the operation, including target identification and initial discussions. |
| Grimaldi Alliance | Legal Advisor | Company | Assisted the seller with the legal aspects of the transaction. |