Milan, 29 October 2018 - Ethica Global Investments S.p.A. acquired a majority stake of GIA S.p.A. from Star Capital SGR S.p.A. and further minority shareholders. GIA is an Italian company operating in the planning, production and sale of patented solutions for the thermohydraulics sector. The current managing director, Ing. Fabrizio Pasquini, will remain in the Company with a minority stake.
Ethica Global is a group holding company of Ethica Holding, a company founded by Cosimo Vitola and Fausto Rinallo and partially owned by approximately twenty Italian entrepreneurs and professionals. Ethica Holding has an overall capital allocation of about 50 million euro and is managed by Directors Ruggero Jenna and Francesco Sala.
Ethica Global was assisted by law firm Pavia e Ansaldo, with a team coordinated by partner Alberto Bianco and made up of Dario Rovelli and Pierluigi Ariete on all legal aspects of the transaction. Partner Marina Balzano counselled the purchaser on the financing aspects. The financial due diligence was performed by Deloitte, the tax due diligence by Terrin & Associati and the strategic due diligence by Inside Partners.
Star Capital was assisted by the financial advisor K Finance, partner of Clairfield, with partner Filippo Guicciardi, director Maximiliano Turelli and analyst Beatrice Reggiori. Law firm Accini, Cartolano e Associati counselled on legal and contractual aspects with partner Francesco Cartolano, Matteo Acerbi and Genny Muccardi. Legal and Tax firm Russo De Rosa dealt with the tax aspects with partner Leo De Rosa and associate Alessandro Rocca.