EQUITA finalizes acquisition of 70% of CAP Advisory
Deal News | May 07, 2025 | Finance Community IT - 1 Corporate M&A
EQUITA has completed the acquisition of a 70% stake in CAP Invest, the sole owner of CAP Advisory, a leading financial boutique founded by Fabrizio Viola, Fabio Cassi, and Matteo Pattavina. This strategic transaction aims to bolster EQUITA's investment banking activities and solidify its position as an independent financial advisor. The acquisition price was determined based on a price-to-earnings ratio of 9x applied to the average adjusted net profit for the period of 2022-2024, amounting to 6 million euros. The payment will be made with a combination of cash and EQUITA's own shares. The remaining 30% stake is subject to put and call options exercisable from June 2028. Following the closing of the deal, CAP Advisory will operate under the name EQUITA Debt Advisory, continuing to offer a wide range of corporate finance solutions. The leadership team will remain unchanged, with Fabrizio Viola serving as president and Fabio Cassi as managing director and senior advisor, focusing on cross-selling initiatives. The transaction marks the entrance of Fabio Cassi and Matteo Pattavina into the EQUITA Group's partnership among managers.
Sectors
- Corporate Finance
- Investment Banking
Geography
- Italy – Both EQUITA and CAP Advisory are Italian companies, and the transaction focuses on strengthening their market presence in Italy.
Industry
- Corporate Finance – The acquisition enhances EQUITA's position in the corporate finance and debt advisory sector, providing a broad spectrum of financial services.
- Investment Banking – EQUITA's acquisition of CAP Advisory is a strategic move to reinforce its investment banking capabilities, particularly in advising entrepreneurs, companies, and institutions.
Financials
- 6 million euros – Average adjusted net profit for 2022-2024, basis for acquisition price calculation.
- 9x – Price-to-earnings ratio used to determine the acquisition price.
- Combination of cash and EQUITA shares – Method of payment for the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EQUITA | Bidding Company | Company | An independent financial advisory group seeking to strengthen its investment banking operations. |
| CAP Advisory | Target Company | Company | A leading financial boutique specializing in corporate finance and debt advisory. |
| Fabrizio Viola | President, Senior Advisor | Person | Co-founder of CAP Advisory who continues to lead the team post-acquisition. |
| Fabio Cassi | Managing Director, Senior Advisor | Person | Co-founder of CAP Advisory who will take an active role in cross-selling initiatives for EQUITA. |
| Matteo Pattavina | Co-founder | Person | Co-founder of CAP Advisory involved in transitioning to EQUITA's management. |
| CAP Invest | Parent Company of Target | Company | Sole owner of CAP Advisory prior to acquisition by EQUITA. |