HIG towards the control of Pinalli. The Firms.
Milan, 16 February, 2023 – The law firm Pavia e Ansaldo, with a team coordinated by partner Alberto Bianco and formed by Martina Villa, Erica Lepore, Ilaria Uletto and Luca Cabato, for corporate and M&A aspects, as well as by partner Valentina Simonelli with Filippo Villa and Rosie Schifino, for labour law aspects, has assisted the fund H.I.G. Capital in the acquisition of a controlling stake in Pinalli S.r.l, the largest omni-channel integrated distribution platform for cosmetic products in Italy.
Founded in 1984 in Fiorenzuola d’Arda, Pinalli has recently embarked on an ambitious omnichannel growth plan based on a proprietary e-commerce platform, the renovation of the shop format of its stores, the launch of social media campaigns and the completion of a significant investment in a major logistics hub. The Company currently has one of the most advanced e-commerce platforms specialising in luxury beauty & personal care products in Italy, integrating a chain of 63 stores and making Pinalli the leading Italian operator in the sector.
The tax aspects of the transaction were handled on behalf of the buyer by Studio CBA with a team led by Ernesto Caso, supported by Eros De Filippis and Matteo Barone, while the structure of the transaction was entrusted to Studio Spada with a team led by partner Guido Sazbon assisted by Francesco Podagrosi.
Orrick, with a team formed by partner Marina Balzano, senior associate Giulio Asquini, associate Maria Costa and Valentina Bombino, assisted HIG in relation to all aspects of financing together with Ethica‘s debt advisory team coordinated by Paola Pellegrini, while Legance handled the antitrust aspects with a team formed by partner Vito Auricchio and counsel Jacopo Figus Diaz.
The Pinalli family, which retains a minority shareholding, and the management, were assisted in all legal aspects by the firm DWF with a team coordinated by partner Luca Cuomo with the collaboration of Alberto Sieli and Giulia Santi, as well as by Intesa Sanpaolo (IMI Corporate & Investment Banking Division), for the financial aspects.
The transaction was financed by Crédit Agricole Italia S.p.A., BPER Corporate & Investment Banking, MPS Capital Services Banca per le Imprese S.p.A., Banco BPM S.p.A. and Muzinich & Co. Società di Gestione del Risparmio S.p.A. assisted by Chiomenti with a team coordinated by Partner Riccardo Rossi and formed by associates Giulia Lamon, Matteo Venuta and Bianca Manzini.
Notary De Vivo’s office took care of the notary fulfilments.