Xenon Acquires 60% Stake in Elettrolinee and Azeta
Deal News | Mar 14, 2025 | Legal Community Italy
Xenon Private Equity has acquired a 60% stake in Elettrolinee and Azeta, marking a significant expansion in its portfolio. The acquisition, which aims to establish a new cluster focused on the development and maintenance of infrastructure in Northern Italy, was facilitated by a multidisciplinary team from law firm Pavia e Ansaldo. The deal witnessed key legal, financial, and strategic advisories played by various firms. Pavia e Ansaldo managed all phases of the transaction, encompassing M&A, administrative, labor law, security, and golden power authorizations. Deloitte conducted financial due diligence, PwC handled fiscal due diligence, and OC&C provided strategic analysis. PwC also assisted in structuring the financing, which was supported by a consortium including Ambienta Credit, Clessidra Capital Credit, Illimity Bank, Illimity Selective Credit, and Tages Credit Fund. The transaction benefitted from the European Union's InvestEU program. The sellers were legally supported by Garzoni Gazzorelli Belleri and attorney Marco Piccoli.
Sectors
- Private Equity
- Electrical Infrastructure
- Financial Services
- Legal Services
Geography
- Italy – The acquisition takes place in Italy, involving Italian companies and investment in Northern Italy's infrastructure.
Industry
- Private Equity – Involves the acquisition of Elettrolinee and Azeta by Xenon Private Equity.
- Electrical Infrastructure – Elettrolinee and Azeta are involved in the installation and maintenance of electrical networks.
- Financial Services – Includes the financing and due diligence aspects of the acquisition handled by various financial firms.
- Legal Services – Pavia e Ansaldo, along with other law firms, provided legal advisory for the transaction.
Financials
- 60% – The stake acquired by Xenon Private Equity in Elettrolinee and Azeta.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Xenon Private Equity | Acquirer | Company | A private equity firm that has acquired a majority stake in Elettrolinee and Azeta. |
| Elettrolinee | Target Company | Company | Involved in the installation and maintenance of electrical networks. |
| Azeta | Target Company | Company | Specializes in electrical network installation and maintenance. |
| Pavia e Ansaldo | Legal Advisor for the Acquirer | Law Firm | Provided legal advisory services to Xenon in the acquisition. |
| Deloitte | Financial Due Diligence | Company | Assisted Xenon with financial due diligence. |
| PwC | Fiscal Due Diligence & Financial Structuring | Company | Conducted fiscal due diligence and helped structure the financing. |
| OC&C | Strategic Analysis | Company | Carried out the strategic analysis for the acquisition. |
| Ambienta Credit | Financier | Company | Part of the financing consortium. |
| Clessidra Capital Credit | Financier | Company | Part of the financing consortium. |
| Illimity Bank | Financier and Operation Agent | Company | Lead the financing pool and acted as the operation agent. |
| Illimity Selective Credit | Financier | Company | Part of the financing consortium. |
| Tages Credit Fund | Financier | Company | Part of the financing consortium. |
| European Union | Supporter | Government | Supported the operation under the InvestEU program. |
| Garzoni Gazzorelli Belleri | Legal Advisor for Sellers | Law Firm | Advised the sellers on contract aspects. |
| Marco Piccoli | Legal Advisor for Sellers | Person | An attorney who provided legal advice to the sellers. |