Giovanni B. Sandicchi

Latham & Watkins has advised DBAG Fund VII, a fund advised by Deutsche Beteiligungs AG, on the sale of Pmflex Group, a leading European manufacturer of electrical installation conduits, to Hager group, a leading provider of solutions and services for electrical installations in residential, commercial and industrial buildings. The Latham team was led by Munich partner Rainer Traugott and Milan partner Giovanni Sandicchi, with associates Giulio Palazzo and Lorenzo Pistoresi. Advice was also provided on regulatory matters by Milan counsel Cesare Milani.~~

Jan 31

1 min

Latham & Watkins has advised CVC Capital Partners Fund VIII on its acquisition of RGI, a leading independent provider of software solutions to the European insurance industry, from Corsair, a prominent private equity firm targeting services, software, and payments investments in the financial services market. The transaction aims to support RGI’s growth plans, including further consolidating the fragmented insurance software industry and investing in the company’s product offering and transition to a cloud-based platform. RGI provides insurers with a comprehensive and modular offering that addresses the entire insurance value chain, covering processes such as policy administration, claims, analytics, market management, reporting and sales, and distribution. The company provides a wide range of cloud software solutions serving property & casualty and life insurance clients across Europe, with leadership positions in Italy, France, and Germany. The company has an international, blue-chip customer portfolio covering insurance and corporate clients of all tiers, including six of the top ten European insurers. The cross-border Latham team was led by Milan corporate partners Antonio Coletti and Giovanni Sandicchi, and London partner Kem Ihenacho, with Milan associates Francesco Loizzi and Margherita Vitale and London associate Jon Fox. Advice was also provided on regulatory matters by Milan counsel Cesare Milani, with associate Edoardo Cassinelli; and on finance matters by Milan partner Marcello Bragliani and London partner Jay Sadanandan, with Milan associates Erika Brini Raimondi and Maria Grechi and London associates James Fawcett and Alexander Law.~~

Mar 11

1 min

Latham & Watkins has advised Pentafin S.p.A., the controlling shareholder of Piovan S.p.A., a company listed on Euronext Milan (the Company), in connection with the sale of 58.35% of the Company’s share capital to Automation Systems S.p.A., a vehicle owned by Investindustrial VIII SCSp fund. Automation Systems S.p.A. will acquire 31,275,541 ordinary shares of Piovan at a price of €14.00 per share, resulting in an aggregate transaction value of approximately €438 million and implying a market capitalization of the Company of approximately €716 million. The parties entered into an investment agreement pursuant to which Pentafin will reinvest in the purchaser’s share capital, with a 25% stake. Following the closing of the acquisition, the purchaser will launch a mandatory tender offer on all the Company’s shares (except for the treasury shares) with the aim of delisting the Company. The Latham team was led by partners Antonio Coletti and Giovanni Sandicchi with counsel Guido Bartolomei and associate Valeria Fiormonti.~~

Jul 19

1 min

Latham & Watkins advised Capvis AG (Capvis) on a €230 million continuation vehicle transaction co-led by affiliates of Committed Advisors SAS and Eurazeo IM. As part of the transaction, existing investors in Capvis III were provided with the choice to receive full liquidity or to fully or partially re-invest into the new vehicle, which will hold the shares in three companies, namely hessnatur, arena and Kaffee Partner. hessnatur is Germany’s number one eco-fashion company with a focus on sustainability and a rapidly growing e-commerce business, arena is a global producer of swimwear and equipment for competitive swimmers and enthusiasts alike, and Kaffee Partner is the market leader in distribution of coffee and water dispensing machines in the DACH region. Capvis is a Swiss private equity investor with a focus on mid-market companies in the DACH area. With over 40 employees, the firm draws on the international experience of its team in Zug (Switzerland), Frankfurt, Shanghai, Jersey and Luxembourg. Since 1990, Capvis has completed over 60 transactions with a total invested capital of more than €3 billion. Latham & Watkins regularly advises Capvis on transactions and in this case advised with an international team on M&A and portfolio level aspects as well as the structuring and implementation of the continuation vehicle. The Latham team was co-led by London partner Nick Benson and Hamburg partner Stefan Widder, with Frankfurt partner Susanne Decker, Milan partner Giovanni Sandicchi and Hamburg associates Jacob Ahme and Lorenz Koffka, London associates Clare Scott and Thea Crawshaw, and Milan associate Giulio Palazzo. Advice was also provided on finance matters by Hamburg partner Ulrich Klockenbrink; on tax matters by partner Tobias Klass and associate Simon Pommer; on antitrust matters by counsel Jana Dammann de Chapto; and on employment matters by Munich associate Kristina Steckermeier.~~

Sep 2

1 min