Smart Capital's Strategic Divestment: ALA Stake Sold to H.I.G. Capital
Deal News | Jun 27, 2025 | Finance Community IT - 3 Private Equity
Smart Capital, a permanent capital holding specialized in private equity and public equity investments, alongside its fully owned subsidiary Smart Ala, sold a 4.54% stake in ALA, a Milan-listed company, to Wing HoldCo. This entity is associated with H.I.G. Europe Middle Market LBO Fund II, managed by H.I.G. Capital. The acquisition price was set at 35.75 euros per ALA share. This sale is contingent upon the completion of another significant acquisition by Wing from A.I.P. Italia, aiming for a full takeover at ALA to eventually delist the company. The deal, which also provides Smart Capital a financial return of 14.7 million euros plus accumulated dividends, marks the end of Smart Capital’s club deal initiated in 2021. ALA specializes in the distribution of components for the aviation sector, and the buyout by H.I.G. is seen as a way to further accelerate ALA’s global growth. Smart Capital's leaders expressed satisfaction with their role in ALA’s journey to public listing and global advancement, emphasizing their mission to assist Italian companies in capital market transitions.
Sectors
- Private Equity
- Aviation and Aerospace
- Financial Services
Geography
- Italy – The article focuses on Italian companies, Smart Capital and ALA, involved in the deal.
Industry
- Private Equity – The article involves Smart Capital, a private equity firm, selling its stake in ALA.
- Aviation and Aerospace – ALA, the target company, specializes in distributing components and equipment for the aviation sector.
- Financial Services – The transaction revolves around equity investments and trading executed by financial institutions.
Financials
- 35.75 – Price per share at which Wing HoldCo purchased ALA shares from Smart Capital and Smart Ala.
- 14,700,000 – Total financial return expected by Smart Capital from the share sale and investment yield.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Smart Capital | Selling Company | Company | An industrial holding company specializing in private equity and public equity investments. |
| Smart Ala | Selling Company | Company | A fully owned subsidiary of Smart Capital involved in the sale of ALA shares. |
| ALA | Target Company | Company | A company listed on Euronext Growth Milan, specializing in aviation components. |
| H.I.G. Capital | Bidding Company | Company | A private equity firm acquiring stakes in ALA through Wing HoldCo. |
| Wing HoldCo | Bidding Company | Company | The purchasing vehicle of H.I.G. Europe's investment fund. |
| Andrea Costantini | President and CEO of Smart Capital | Person | Advisor responsible for overseeing strategy and operations at Smart Capital. |
| Andrea Faraggiana | Managing Partner and General Director of Smart Capital | Person | Key executive supporting Smart Capital's strategic direction. |