Sae Communication Finalizes Acquisition of Next14 and Different
Deal News | Nov 05, 2024 | Finance Community IT - 1 Corporate M&A
Sae Communication has successfully acquired Next14, a company specializing in advertising campaigns via print, television, radio, and multimedia channels, and Different, a communication firm dedicated to enhancing brand presence and strategy. The merger of these two companies creates a new entity, Next Different, with a projected annual revenue exceeding €75 million, a gross margin of €27 million, and an EBITDA approaching €8 million. Clearwater acted as the debt advisor for this transaction, which was financed by a banking syndicate including Banco BPM and BPER Banca. Legal and due diligence support was rendered by various firms, including EY and LCA Studio Legale. Next Different, with over 250 employees, emerges as Italy's leading independent communication company, poised to support notable brands like AIA, Barilla, and UniCredit in their communication strategies. The transaction underscores Clearwater's expertise in mid-market structured finance.
Sectors
- Advertising and Communication
- Private Equity and Investment Banking
Geography
- Italy – The transaction and the companies involved are based in Italy, making it a significant development in the Italian communication sector.
Industry
- Advertising and Communication – The acquisition involves companies specializing in advertising and communication campaigns across various media channels.
- Private Equity and Investment Banking – Clearwater's role as debt advisor highlights the involvement of structured finance and investment banking services in the transaction.
Financials
- €75 million – Projected revenue for Next Different following the acquisition.
- €27 million – Expected gross margin for Next Different.
- €8 million – Projected EBITDA for Next Different.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sae Communication | Buyer | Company | A group that has finalized the acquisition of Next14 and Different to create Next Different. |
| Next14 | Target Company | Company | A company specializing in advertising campaigns through multiple media channels. |
| Different | Target Company | Company | A communication firm supporting brands in market strategy and presence. |
| Clearwater | Debt Advisor | Company | Acted as the debt advisor for the acquisition deal. |
| Banco BPM | Financing Bank | Company | Part of the banking syndicate providing financing for the acquisition. |
| BPER Banca | Financing Bank | Company | Part of the banking syndicate financing the acquisition. |
| PedersoliGattai | Legal Advisor for Financing | Company | Provided legal advisory services related to financing. |
| EY | Legal Advisor | Company | Provided M&A and tax structuring legal services for the transaction. |
| LCA Studio Legale | Legal Advisor for Financing | Company | Provided legal advisory services related to financing. |
| BDO | Due Diligence Provider | Company | Assisted in due diligence performed by some shareholders. |
| Michele Castiglioni | Director | Person | Director at Clearwater involved in the transaction. |
| Arturo Gregorini | Analyst | Person | Analyst at Clearwater involved in the transaction. |