MILAN Dec 23 Private equity funds Bain Capital
and Clessidra said on Tuesday they agreed to buy Italian
business information company Cerved from a group of banks for an
The deal was partly financed with a 275 million euro ($384.9
million) syndicated loan from BNP Paribas (BNPP.PA), Intesa
Sanpolo (ISP.MI) and UniCredit (CRDI.MI) Market and Investment
Banking, the funds said in a statement.
They did not disclose the full price of the deal but a source close to the operation said the deal would be worth
around 550 million euros.
After the acquisition, Cerved will be merged with Bain
Capital's unit Lince to extract synergies, the funds said.
The new company will be 80-percent owned by Bain Capital and
20-percent by Clessidra, they said.
"Combining Cerved with Lince allows us to gain important
critical mass to be competitive in Italy and to focus on foreign
markets from a position of strength," Bain Capital Managing
Director Felipe Merry Del Val said in the statement.
The combined group will have revenues of about 240 million
euros and earnings before interest, tax, depeciation and
amortisaion (EBITDA) of some 100 million euros, with about
30,000 clients in Italy.
The synergies will lead to a double-digit growth of revenues
at the combined group, Gianandrea De Bernardis, CEO of
TeamSystem Lince, told Reuters. Bain owns Lince through
(Reporting by Danilo Masoni and Irene Chiappisi; Editing by