Bregal Unternehmerkapital Completes Acquisition of Control in Relatech

Gemini BidCo S.r.l., a vehicle company indirectly controlled by Bregal Unternehmerkapital IV funds, has finalized the acquisition of a 53.24% stake in Relatech S.p.A. The stake was previously held by engineer Pasquale Lambardi and his vehicle company. The transaction was executed in accordance with the sales agreement announced to the market on June 20, 2024. Relatech, listed on Euronext Growth Milan, operates in the fields of digital transformation, industrial automation, cybersecurity, and digital marketing.

Following the completion of the transaction, Pasquale Lambardi has reinvested in the vehicle company indirectly controlling Gemini BidCo, becoming a minority shareholder.

In accordance with Euronext Growth Milan regulations, Gemini BidCo will launch a mandatory public offer, pursuant to Articles 102 and 106 of the TUF, for the remaining shares of Relatech, excluding treasury shares held in portfolio. This offer is aimed at delisting Relatech from the stock exchange.

Chiomenti advised Bregal Unternehmerkapital IV with a team led by Livia Cocca, including Silvia Basilico and Enrica Bertoldi. Marco Maugeri, Edoardo Cossu, and Laura Papi handled capital markets aspects, while Giorgio Cappelli, Angelo De Michele, Elena Brunetta, and Marco Sangiorgi addressed the financing aspects of the transaction. Giulio Napolitano, Luca Masotto, and Chiara Grazzini managed the golden power notification aspects, and Sara Bittolo and Giulia Berton oversaw labor law issues related to the reinvestment.

Legance provided advice on the transaction’s structure, tax aspects of the financing, and other fiscal matters. The team was led by partner Andrea Silvestri, with support from counsel Paolo Ronca, counsel Luigi Quaratino, senior associate Michele Barcellona, and associate Matteo Lamaro.

Gatti Pavesi Bianchi Ludovici represented the sellers with a team led by equity partner Andrea Giardino and partner Giuseppe Toia, supported by senior associate Eugenio Prosperi and associate Gianmarco Melillo for corporate matters, and counsel Tiziana Germinario with associate Edoardo Manera for financing issues.

Advest Tax Legal Corporate assisted the sellers on tax matters with a team led by partners Giulio Saporito and Umberto Volontè.

Simmons & Simmons advised the banks with a team consisting of partner Davide D’Affronto, counsel Alessandro Elisio, managing associates Maria Ilaria Griffo and Fabrizio Nebuloni, associates Alessandra Belmonte and Gianmarco Cornalba, and junior associates Alice Gesualdo and Francesca Mecca Galgano. Partner Marco Palanca and associate Giulia Aglialoro handled fiscal aspects.