Background
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Gruppo Servizi Associati S.p.A. (GSA) is a multi-service company operating in the fields of fire surveillance and prevention, soft security and facility management
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GSA has a widespread presence across Italy and France with more than 4,000 employees
- GSA's advanced engineering services, highly specialised and qualified workforce and introduction of tech innovations and patents, makes it a clear rival in the European market
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In 2018, Armonia Sgr, a leading private equity operator, became the majority shareholder of GSA, bolstering the high levels of excellence achieved by the group
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In 2019, the growth of GSA was complemented by the acquisitions of S.R.M.B. – Secours Routiers du Mont-Blanc SAS and in Friuli Estintori (renamed GSA Firesafe), further consolidating its presence in the fire safety and fire equipment installation areas
Process
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DC Advisory (DC) was engaged by GSA's shareholders Armònia Sgr and Al.Pe.Invest S.p.A. to act as financial advisor and provide sell-side M&A advice
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DC provided comprehensive advice to GSA throughout the sale process including:
- process strategy and tactics;
- buyers scouting;
- due diligence coordination;
- deal structuring;
- financial modelling and valuation;
- support in negotiations; and
- advice on transaction documentation
Outcome
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Eurizon Capital SGR S.p.A. emerged as the preferred bidder for GSA
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Following a detailed due diligence process, the sale & purchase agreement was signed on July 1, 2021
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The transaction is expected to close by early September 2021
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The closing of this transaction is subject to customary closing conditions and regulatory approval