News

IVS Group SA, a company listed on the STAR segment of Borsa Italiana, active in the vending sector of beverages and snacks, has entered into a business combination agreement with Cafim Srl, holding of the Caporali family and controlling shareholder of the Liomatic group, also operating in the vending business The strategic goal is to offer customers an increasingly efficient and higher value service through innovative products and technologies and logistical and distribution synergies between existing and new markets.

The transaction has an initial total Enterprise Value of approximately Euro 154 million, not considering properties and minority interests held by Liomatic (valued at approximately Euro 52 million).

The structure of the transaction provides for Cafim to reinvest approximately 70% of the consideration in IVS by subscribing to a reserved capital increase in IVS Partecipazioni S.p.A. (controlling shareholder of IVS Group), thus becoming one of its main shareholders. IVS Group will in turn carry out a capital increase offered to the market and which will be subscribed pro-quota by IVS Partecipazioni itself.

The closing of the transaction is expected at the beginning of 2022.

IVS Group S.A. is assisted by TALEA Tax Legal Advisory with Gabriele Consiglio and Fabrizio Lanzoni for the investment agreement, by Paolo Ziotti for the antitrust clearance and by Latham & Watkins for the market profiles with Antonio Coletti.

The Caporali family is assisted by ADR with Andrea Netti and Eleonora Netti and by Stefano Mazzi.