Cube Cold Expands with Sottozero Acquisition
Deal News | Dec 04, 2024 | Legal Community Italy
I Squared Capital's subsidiary, Cube Cold, an industry leader in refrigerated warehouse management, has successfully acquired Sottozero, a company specializing in refrigerated and controlled temperature storage located in Cremosano, Italy, from Azzurra Holding. This acquisition marks Cube Cold's third foray into the Italian market. Legal expertise for this transaction was provided by Chiomenti, representing I Squared Capital and Cube Cold, and Grimaldi Alliance, representing the seller Azzurra Holding. Chiomenti's multidisciplinary team was led by Elena Busson and Francesco Rigo, while Mainini & Associati, with partner Mennato Fusco, provided strategic support in the preliminary stages for Cube Cold. Arcadia Financial Advisors served as the financial advisor for Azzurra Holding in the deal, showcasing a cohesive execution of corporate and financial advisory roles in this acquisition.
Sectors
- Refrigerated Warehousing
- Legal Advisory
- Financial Advisory
Geography
- Italy – The acquisition takes place in Italy, specifically involving the Italian companies Cube Cold and Sottozero.
Industry
- Refrigerated Warehousing – The acquisition involves companies operating in the refrigerated warehousing sector, indicating growth and consolidation in this industry.
- Legal Advisory – Significant legal advisory roles were played by Chiomenti, Mainini & Associati, and Grimaldi Alliance, making it a pertinent sector.
- Financial Advisory – Arcadia Financial Advisors' involvement as the financial advisor highlights the sector's relevance in M&A transactions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cube Cold | Acquirer | Company | A company active in the refrigerated warehousing sector, controlled by I Squared Capital. |
| Sottozero | Target | Company | An Italian company that manages refrigerated and controlled temperature warehouses. |
| I Squared Capital | Parent Company of Acquirer | Company | A global infrastructure investment manager. |
| Azzurra Holding | Vendor | Company | The selling company of Sottozero. |
| Chiomenti | Legal Advisor to Cube Cold | Company | Provided legal support to Cube Cold in the acquisition process. |
| Grimaldi Alliance | Legal Advisor to Azzurra Holding | Company | Provided legal support to Azzurra Holding in the deal. |
| Mainini & Associati | Strategic Consultant to Cube Cold | Company | Provided strategic consulting in the preliminary stages of the acquisition for Cube Cold. |
| Arcadia Financial Advisors | Financial Advisor to Azzurra Holding | Company | Advised Azzurra Holding on the financial aspects of the sale. |