From buyer to acquirer: big funds set their sights on Minerva Hub

From buyer to acquirer: big funds set their sights on Minerva Hub

The eye of the big funds is on Minerva Hub. Carlyle, Permira, CVC and Astorg would look with some interest at the production hub created this year by the merger between Matteo Marzotto’s Ambria Holding and Xpp Seven, controlled by the private equity fund Xenon. Meanwhile, the group is about to announce two or three new acquisitions within this month.

Second exploratory phase launched

According to rumours published by Il Sole 24 Ore, Minerva Hub would have entrusted an exploratory assignment to the merchant bank Rothschild in recent months. In the last few weeks, this path would have entered its second phase. The interested interlocutors would have received the dossier containing all the information on the production pole servicing luxury, to which the Tuscan tannery Zuma Pelli Pregiate also belongs.

The eye of the big funds

Carlyle, Permira, CVC and Astorg would be the big private equity funds interested in taking over the group. While the Xenon fund, already a majority shareholder of Minerva Hub through Xpp Seven, would have to reinvest in the group. The price of the operation would be over EUR 500 million. Now, it will have to be seen if and what offers will arrive and then, possibly, negotiations will begin.

New acquisitions in sight

Minerva Hub estimates to close 2022 with a turnover of more than EUR 180 million and an Ebitda of around EUR 50 million. A figure that is destined to rise if, as president Matteo Marzotto told us, more deals come in this November. The latest one is very recent. It dates back to the end of October and concerns the acquisition of a majority stake in Jato 1991, a company in San Lazzaro di Savena (Bologna) specialising in hand embroidery on fabric.

In the photo: right, Matteo Marzotto (president of Minerva Hub), left, Franco Prestigiacomo (CEO of Xenon)

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