Fulgard: Full Acquisition Completed by Seven2
Deal News | Jan 16, 2025 | Legal Community Italy
Private equity firm Seven2, formerly known as Apax Partners, has successfully acquired the entire share capital of Fulgard, a company specializing in fire safety services, from Argos Wityu and other minority shareholders, including some Fulgard’s management team. The transaction was supported by A&O Shearman who provided legal advice on the M&A aspects. Foglia & Partners managed the tax implications of the deal. The acquisition was financed through a senior secured bond issued by a vehicle company controlled by Seven2. The bond was subscribed by funds managed by Partners Group and LGT Capital Partners, who were advised by PedersoliGattai. Banca Finint facilitated the issuance process, supported by PedersoliGattai as issuing agent, paying agent, and security agent, while White & Case facilitated the exit of Blackrock Investment Management as the previous financer. Giovannelli e Associati advised Argos Wityu on corporate matters, and Giliberti Triscornia e Associati assisted Fulgard’s management. This acquisition, followed by a refinancing plan, illustrates a major strategic maneuvering in the fire safety industry finance landscape.
Sectors
- Private Equity
- Fire Safety
- Legal Services
Geography
- Italy – The transaction involved several Italian legal firms and participants, indicating the geographical focus of the business deal.
Industry
- Private Equity – The transaction involved private equity firm Seven2 acquiring Fulgard from Argos Wityu, demonstrating typical M&A activity in the private equity sector.
- Fire Safety – Fulgard, the target company in the acquisition, operates in the fire safety industry, emphasizing the industry-specific focus of the acquisition.
- Legal Services – A multitude of legal firms were involved in the transaction, highlighting the role of legal services in facilitating complex mergers and acquisitions.
Financials
- Not Specified – Financial details about the deal price or bond value were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Seven2 | Bidding Company / Buyer | Company | A midcap private equity firm formerly known as Apax Partners, acquiring Fulgard. |
| Fulgard | Target Company | Company | A company active in the fire safety industry, acquired entirely by Seven2. |
| Argos Wityu | Selling Company / Vendor | Company | A fund from which Seven2 acquired Fulgard. |
| A&O Shearman | Legal Advisor | Company | Provided legal assistance to Seven2 for M&A aspects of the transaction. |
| Giovannelli e Associati | Legal Advisor | Company | Advised Argos Wityu for corporate aspects related to the acquisition. |
| Giliberti Triscornia e Associati | Legal Advisor | Company | Assisted the management of Fulgard. |
| Foglia & Partners | Tax Advisor | Company | Handled the tax aspects of the acquisition for Seven2. |
| PedersoliGattai | Legal Advisor | Company | Advised Partners Group and LGT Capital Partners, as well as Banca Finint in the transaction. |
| White & Case | Legal Advisor | Company | Assisted Blackrock Investment Management as the outgoing financer. |
| Partners Group | Investor | Company | Subscribed to the bond issued to finance the acquisition. |
| LGT Capital Partners | Investor | Company | Along with Partners Group, subscribed to the financing bond. |
| Banca Finint | Financial Agent | Company | Acted as issuing agent, paying agent, security agent, and representative for the bond issuance. |
| Blackrock Investment Management | Exiting Financer | Company | Was the exiting financer for Fulgard. |