Background
- Founded in 1928 and headquartered in Bergamo, Italy, Bracchi is a leading transport and logistics operator with seven offices and 12 logistics hubs across Europe
- Bracchi offers a complete range of solutions in transport and logistics – from special and heavy transportation to technological integration and automation – for various end markets including agriculture, cosmetics, and fashion
- In 2016, Bracchi was acquired by Iniziativa Gestione Investimenti SGR, an independent private equity firm, alongside other institutional investors
- Argos Wityu is an independent European private equity group, focused on acquisitions and investments in line with its two strategies: the Midmarket fund – helping companies implement ownership transitions – and the Climate Action fund – aiming to reduce the environmental impact of its companies and shape sustainable leaders
Process
- DC Advisory was engaged as sole financial advisor by Argos Wityu in relation to the acquisition of Bracchi
- DC Advisory worked closely with Argos Wityu during the entire buy-side process, providing comprehensive financial and strategic advice across a number of strategies, including:
- Debt structuring and packaging;
- Decarbonisation strategy revision; and
- Documentation negotiation and preparation
Outcome
- On 30 October 2023, Argos Wityu signed a Sale and Purchase Agreement with IGI for the acquisition of Bracchi
- The transaction closed 14 December 2023
- The Bracchi management team will remain to drive the business into its new sustainable growth phase
- This transaction represents the first deal of Argos Wityu’s Climate Action fund
- This transaction further strengthens DC Advisory’s expertise in the Industrials space and track record of providing clients with comprehensive buy-side advice
“This transaction represents a fundamental milestone in the history of our firm, sustaining the Argos objective to transform European SMEs into environmental champions. I would like to thank Giuliano and the entire DC Advisory team for their invaluable guidance, wealth of expertise and strong commitment throughout such a complex process.”
“We are extremely pleased to have advised Argos Wityu on their first investment of the newly launched Climate Action fund, and we are confident that this represents a further step toward a more sustainable European economy. With this transaction, we have helped a leading European company reach a key milestone in the decarbonisation of the logistics sector, paving the way for a strategic transformation towards sustainability."
