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Xenon finalizes acquisition of Solana

Milan, April 24, 2024 – Gelmetti Studio Legale Associato, with a team coordinated by partner Pierfrancesco Gelmetti and composed of senior associates Gabriele Moioli and Dolores Mugherli and trainee Carlo Bertazzi assisted Xenon Private Equity, in the acquisition of 100 percent of the capital of Solana S.p.A., an agribusiness company based in the Lodi area, a leader in the harvesting, processing, transformation and marketing of tomato sauces, preserves, semi-conserves and the like, destined for the B2B channel.

The transaction is aimed at creating, including through subsequent acquisitions, a center of excellence in the production of derivatives from tomato and other vegetables under the leadership of Solana and its management, coordinated by CEO, Antonio Casana, who remains in charge of the company’s management.

Xenon’s team was coordinated by founding partner and managing director, Franco Prestigiacomo and composed of investment managers Francesco Banfi and Teresa Toniutti.

The deal was also made possible thanks to a medium-long term financing agreement concluded between Xenon and a pool of banks composed of BPER Banca (also as agent bank), Banca Sella, ICCREA Banca, Cassa Centrale – Credito Cooperativo Italiano, BDM Banca, BCC Lodi and Banca Centropadana, and the issuance of a bond fully subscribed by Equita.

The banking syndicate was assisted by Simmons & Simmons with a team coordinated by partner Davide D’Affronto and composed of supervising associate Cettina Merlino, associate Filippo Neri and trainee Francesca Regolo, as well as for the tax part by partner Marco Palanca and associate Giulia Aglialoro.

The legal aspects of the bond loan were followed for Xenon, by Pavia and Ansaldo, with a team coordinated by partner Giuseppe Besozzi and composed of counsel Erica Lepore and trainee Mariarosaria Sellitto, and, for Equita, by the law firm Dentons with a team coordinated by partner Alessandro Fosco Fagotto and counsel Tommaso Zanirato, assisted by associate Giorgio Peli, in relation to banking profiles, as well as by partner Enrico Troianiello and senior associate Giacomo Pino, with regard to corporate profiles.