Lovato Acquisition
Deal News | Dec 23, 2024 | Legal Community Italy
Fiorini Industries, backed by the independent private equity firm Mindful Capital Partners, has successfully acquired 100% of Lovato through its entity Neptune. Lovato is known for its expertise in design, prototyping, manufacturing, and marketing of equipment within the hydrosanitary sector. Part of the acquisition deal involves Lovato family members reinvesting back into Fiorini Industries. The strategic merger aims to establish a leading Italian entity in the HVAC sector by combining complementary product portfolios, applications, and customer bases. This move is intended to bolster European scale expansion and capitalize on prevailing energy transition trends in heating and cooling sectors. Legal representation for the sellers was provided by LCA Studio Legale, led by partners Luca Minoli and Francesco Buoso, with corporate assistance from Paolo Vitaloni and Giovanni Compagnoni. Financial advice was rendered by Francesco Silva of Cube Advisory and a team from Colombo Advisory including Nicola Zambianchi, Nicol Maria Lazzarin, and Leonardo Bonivento, alongside representation by Alberto Bellieni of Studio AB&P for the Lovato family. Fiorini Industries and Mindful Capital Partners were legally assisted by LS Laghi & Partners led by Sergio Laghi, supported by a team including Carlo Vincenzi, Alberto Fantuzzi, Beatrice Berto, and Nunzio Noschese. Additionally, Banco BPM was advised by Simmons & Simmons, with Davide DAffronto at the helm, supported by Cettina Merlino, Alessandra Belmonte, Francesca Regolo, and Sabina Elia.
Sectors
- HVAC Industry
- Private Equity
- Legal Services
- Financial Advisory
Geography
- Italy – The acquisition involves Italian companies, Fiorini Industries and Lovato, and aims to strengthen their position in the Italian and European market.
Industry
- HVAC Industry – Both Fiorini Industries and Lovato operate within the HVAC sector, focused on heating, ventilation, and air conditioning systems.
- Private Equity – Mindful Capital Partners, a private equity firm, is involved in the acquisition and financing of Fiorini Industries.
- Legal Services – Multiple legal firms were involved in advising both the acquiring and selling parties in the transaction.
- Financial Advisory – Financial advisors were engaged to assist in the strategic and financial aspects of the acquisition.
Financials
- 100% – The acquisition involves Fiorini Industries acquiring 100% of Lovato.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fiorini Industries | Buyer | Company | An Italian company involved in the HVAC sector, now acquiring Lovato. |
| Mindful Capital Partners | Investor/PE Firm | Company | A private equity firm that controls Fiorini Industries. |
| Lovato | Target Company | Company | A company specializing in the design, prototyping, and marketing of hydrosanitary equipment, now acquired by Fiorini Industries. |
| Neptune | Acquisition Vehicle | Entity | Entity through which Fiorini Industries acquired Lovato. |
| LCA Studio Legale | Legal Advisor | Company | Provided legal services to the sellers. |
| Cube Advisory | Financial Advisor | Company | Provided financial advisory services to the sellers. |
| Colombo Advisory | Financial Advisor | Company | Provided financial advisory services to the sellers. |
| Studio AB&P | Financial Advisor | Company | Provided representation and financial advisory services to the Lovato family. |
| LS Laghi & Partners | Legal Advisor | Company | Provided legal services to Fiorini Industries and Mindful Capital Partners. |
| Simmons & Simmons | Legal Advisor | Company | Provided legal services to Banco BPM. |
| Banco BPM | Financing Institution | Company | Involved in the financial aspects of the transaction, advised by Simmons & Simmons. |