On Tuesday, November 25th, Italian Minister of Industry and Manufacturing (Mimit) Adolphe Urso will discuss the sale of Riello with representatives of Carrier Global Corporation. Riello is an Italian manufacturer of oil-fired boilers and burners with an annual turnover of €400 million, whose products are used for environmental heating. Carrier Global acquired Riello from Ettore Riello between 2015 and 2017 (see previous report by BeBeez). Mattia Losego, head of Mimit's crisis management department, stated that Bank of America, the advisor for the sale of Riello, has received non-binding offers from Ariston, Ferroli (a portfolio company of Attestor and Oxy Capital since 2022), Syntagma Capital, Aurelius, and Chinese counterparts Haier (the parent company of Candy) and Midea Group. Riello's EBITDA was negative €30 million. BeBeez Private Data, a private equity database jointly launched by BeBeez and FSI, monitors companies such as Riello, Ferroli, Attestor, and Oxy Capital. Click here to learn how to subscribe for one month or one year, or click here to schedule a demo video call with a BeBeez database manager.
Borgosesia, a Milan-listed real estate developer and non-performing loan (NPE) investment company, has been authorized by Banca d'Italia to acquire Italian credit services company OneOsix for €5.5 million (see previous BeBeez report). The buyer will pay an initial €2.5 million upon completion of the transaction, with the remaining €3 million to be paid at the 3-month Euro Interbank Offered Rate (Euribor) plus a 0.5% spread. Davide Ferrari, a director of Borgosesia, is also the CEO of OneOsix. OneOsix was previously owned by the Italian Development Institute (Istituto Atesino di Sviluppo, 49.86%), the Zanoni family (15%), Mediocredito Trentino Alto Adige (9.59%), F.lli Poli (9.5%), Immobiliare Adige (7.14%), Net Insurance (5%), and other minority shareholders. Manuela Zanoni and Giorgio Franceschi were directors of the buyer and the target company, respectively.
On Tuesday, November 25th, Italian Minister of Industry and Manufacturing (Mimit) Adolphe Urso will discuss the sale of Riello with representatives of Carrier Global Corporation. Riello is an Italian manufacturer of oil-fired boilers and burners with an annual turnover of €400 million, whose products are used for environmental heating. Carrier Global acquired Riello from Ettore Riello between 2015 and 2017 (see previous report by BeBeez). Mattia Losego, head of Mimit's crisis management department, stated that Bank of America, the advisor for the sale of Riello, has received non-binding offers from Ariston, Ferroli (a portfolio company of Attestor and Oxy Capital since 2022), Syntagma Capital, Aurelius, and Chinese counterparts Haier (the parent company of Candy) and Midea Group. Riello's EBITDA was negative €30 million. BeBeez Private Data, a private equity database jointly launched by BeBeez and FSI, monitors companies such as Riello, Ferroli, Attestor, and Oxy Capital. Click here to learn how to subscribe for one month or one year, or click here to schedule a demo video call with a BeBeez database manager.
Borgosesia, a Milan-listed real estate developer and non-performing loan (NPE) investment company, has been authorized by Banca d'Italia to acquire Italian credit services company OneOsix for €5.5 million (see previous BeBeez report). The buyer will pay an initial €2.5 million upon completion of the transaction, with the remaining €3 million to be paid at the 3-month Euro Interbank Offered Rate (Euribor) plus a 0.5% spread. Davide Ferrari, a director of Borgosesia, is also the CEO of OneOsix. OneOsix was previously owned by the Italian Development Institute (Istituto Atesino di Sviluppo, 49.86%), the Zanoni family (15%), Mediocredito Trentino Alto Adige (9.59%), F.lli Poli (9.5%), Immobiliare Adige (7.14%), Net Insurance (5%), and other minority shareholders. Manuela Zanoni and Giorgio Franceschi were directors of the buyer and the target company, respectively.