Matica Fintec acquires Panini from Seta Holding

Matica Fintec S.p.A., an Innovative SME listed on Euronext Growth Milan and active in the design, production and commercialization of highly technological systems for identity documents and banking solutions, has completed the acquisition of 100% of the share capital of Panini S.p.A., which in turn holds the entire share capital of Panini North America Inc., from the Luxembourg-based investment platform Seta Holding S.A., whose exclusive advisor in Italy is J. Hirsch S.r.l.

Founded in Turin in 1945, Panini is an international leader in the design, production and commercialization of hardware and software systems for the acquisition and dematerialization of checks and paper-based payment documents, as well as in the development and production of tools and solutions for bank branch automation and personal identity verification through biometric authentication systems.

Through this transaction, Matica Fintec S.p.A. strengthens its presence in the field of hardware and software solutions for the banking market, pursuing a combined strategy of organic growth and targeted acquisitions.

Financing for the acquisition was arranged and made available by a pool of banks including, among others, Crédit Agricole Italia, as Agent Bank, and Banco BPM S.p.A.

Bird & Bird assisted Matica Fintec S.p.A. with a team led by partner Giovanni Gazzaniga, supported by senior associate Nicolò Baruffi, associates Ludovica Porzio and Vanessa Sebastianutti, and trainee Andrea Nespoli for the corporate aspects of the transaction, and by partner Simone Cadeddu and counsel Jacopo Nardelli for the golden power aspects. The firm also supported the company in the financing transaction, particularly in the negotiation of the financing documentation and other legal aspects related to the loan, with a team led by counsel Michele Arruzzolo and coordinated by partner Pierpaolo Mastromarini, with the support of associates Francesco Bianco and Gloria Bernardini. Matica Fintec S.p.A. was also assisted by Fineurop Soditic as M&A advisor and debt advisor.

Seta Holding was assisted by Molinari Studio Legale with a team composed of partner Marco Laviano, senior associate Federico Trabucco, and trainee Marta Torretta for the corporate aspects, while partner Lorenzo Caruccio handled the golden power matters.

Dentons assisted the financing banks in the preparation and negotiation of the financing documentation with a team led by partner Alessandro Fosco Fagotto and managing counsel Tommaso Zanirato, supported by senior associate Gaia Grossi and trainee Giovanni Vianello.