Partner per la crescita. S.I.C.I. SGR S.p.A. Business presentation

Transcription

1 Crediamo nelle idee che diventano azioni Partner per la crescita S.I.C.I. SGR S.p.A. Business presentation

2 E xe c utive Summary SVILUPPO IMPRESE CENTRO ITALIA SGR S.P.A Who we are.. pag. 3 Story line.... pag. 4 Mission.. pag. 5 Governance.. pag. 6 Investment Team..... pag. 7 Our value....pag. 8 How we invest... pag. 9 Track record... pag. 11 2

3 WHO WE ARE Sviluppo Imprese Centro Italia is a indipendet Società di gestione del risparmio of the banking and financial system of central Italy. Established in April 1998, it was approved on 23 April 1999 by the Banca di Italia to manage more close-end investment funds for qualified investors. It s registered under no. 21 on the Albo dei Getsori FIA and is associated AIFI. SICI is an Elite partner, the platform of integrated services run by Borsa Italiana that provides SME industrial skills, financial and organizational part of a process that should lead to trading on regulated markets. Among the subsidiaries of SICI: Braccialini, Bassilichi and Wiva Elite Group have joined the project. SHAREHOLDING THE FUNDS Centroinvest Toscana Venture Toscana Innovazione Rilancio e Sviluppo. 3

4 STORY LINE Sviluppo Imprese Centro Italia S.p.A. was founded in Florence on the initiative of Fidi, MPSCS, CRFI and CRLUPILI as an innovative, joint tool for operating in the Private Equity field at the time a new segment of the finance market with major growth potential. SICI launched the first closed-end investment fund, CENTROINVEST, with initial assets of 38 million for operations in SMEs in Central Italy After having completed investments with Centroinvest, SGR s founding partners decided to open SICI s capital to other banks and stabilize the management and operational structure to make it an independent SGR in Tuscany s financial industry. SICI launched its second closed-end investment fund TOSCANA VENTURE FUND with initial assets of 50 million for investments in SMEs in Central Italy, focusing on Tuscany, reserving 15% of total resources for investments in innovative and technological start-ups. On the strength of the experience and knowledge developed in the industry and in the local area, SICI launched its third investment fund, TOSCANA INNOVAZIONE FUND ( 24.8 million), the first fund specifically focused on venture capital and intended to support innovative Tuscan SMEs, including in their very early stages. SICI started the collection of its fourth investment fund, RILANCIO E SVILUPPO FUND, which started operations with assets of 26 million, growth capital for SMEs in Central Italy that in the mid-term could become a league of champions able to meet the challenges of international competition. Gepafin a finance company owned by the Region of Umbria and 11 regional banks entered SICI s share capital with a 14% share. SICI is now actively managing four investment funds for a total of approximately 140 million through which it has completed 48 investments over the last ten years in numerous sectors, including fashion, foodstuff, biotechnology and advanced mechanics 4

5 MISSION SICI s mission is to foster the development of non-listed SMEs in Central Italy over the mid to long term by contributing resources to strengthen their financial and asset structure. SICI is an active partner for the growth of investee companies and a strategic actor in creating value for the local area, having a positive impact on the economic and social fabric in terms of competitiveness, employment and business and management culture. The core points of SICI s mission are: action to support the economy of Central Italy by acquiring shares and underwriting semi-equity financial instruments issued by non-listed SMEs; attracting capital to the local areas in which we operate, supporting co-investments with other actors active in Italy and internationally; disseminating an entrepreneurial culture, supporting initiatives for managerial growth and contributing to the discussion of technical issues through events and meetings about the economy and financing for businesses. 5

6 GOVERNANCE BOARD OF DIRECTORS D. Taccetti Charmain: He is a lawyer specialized in commercial, corporate and insolvency law who works with major national banks. He is a bankruptcy lawyer who has supported firms and groups in arrangement procedures, restructuring plans and debt rescheduling agreements. He is a member of the Board of Directors of ASCOT Insolvency firm association of Tuscany. N. Lattanzi Vice Charmain: He has been Associate Professor of Business Administration at the University of Pisa since He has been a professor of family-run business strategy and governance and professor of business studies at the graduate schools of the University of Pisa, the University of Florence and the University of Parma. Since 1991, he has been a Chartered Accountant in the Order for the Jurisdiction of the Court of Lucca. B. Pecchi - Director: He has taken on numerous managerial responsibilities at BCRFI and CROrvieto since Since July 2012, he has been Vice President of Fidiand, a member of the Board of Directors of Federconfidi since July 2014, headed by Confindustria and including other leading Italian industrial groups. S. Bagni - Director: He had 33 years of experience in the Intesa Group before becoming Area Director and Coordinator. He worked in the BPOPVI Group ( ), where, in 2012, took on the position of Deputy Manager of the Regional Direction of Central-South Italy, which he continues to hold. S. Santucci - Director: He has been president of Gepafin since 2002 and is an independent board member and statutory auditor of regional and national industrial companies. Since 2002 he has been professor of business administration at the University of Perugia. Since 1985 he has taught for managerial and business training associations and institutions throughout Italy. E. Mazzotta - Director: He has been Director of the Private Equity & M&A Division at BancaEtruria since 2008, after having held the same position at MPSCS ( ). G. Beni - Director: He is a founder, majority shareholder and has been Chairman of Calzaturificio Gabriele since 1988, and Edoardo & Lorenzo since 1997; he has been Chairman of the Board of MPSCS since F. Buzzatti - Director:General Manager of SICI since July 1, 2006, he is registered as an auditor with the Italian Ministry of Justice. He has been Director of Administration, Finance and Auditing of fashion companies and listed companies in the ICT sector (7 years). He has also been an auditor and financial consultant at Ernst & Young (7 years). BOARD OF AUDITORS M. Bacchereti Charmain:He has been a member of the Order of Chartered Accountants and Accounting Experts since 1995; he is Chairman of the Board of Calzaturificio Cosmo, Tempesti, Chimont International, Grifoni CRSM and Energetic; he also serves as statutory auditor and bankruptcy trustee for numerous Tuscan corporations. M.L. Giordano - Auditor:He has had a long, many-parted professional career in the fields of tax law, commercial law, corporate organization and restructurings, corporate governance and business auditing. He is a corporate consultant, tax expert, auditor and lawyer, a member of the supervisory bodies of corporations and multinationals. C. Galli - Auditor:He has been registered since 1994 in the Register of Chartered Accountants and Accounting experts and the Register of Expert Consultants of the Court of Florence. Since 1999 he has been registered in the Register of Official Auditors of Accounts and he is currently active in corporate, legal and contract consulting; he is also a Judicial Administrator of assets, corporate shares and companies. BANCA DEPOSITARIA OF THE FUNDS State Street Bank S.p.A SOCIETA DI REVISIONE Baker Tilly Revisa S.p.A. 6

7 INVESTMENT TEAM Fabrizio Buzzatti Direttore Generale Guido Tommei Vice Direttore Generale: He is professionally trained in Accenture and Ernst & Young where he worked as a consultant and audit and in consulting on the financial sector for industrial and banking groups. Francesco Castaldelli Investment Manager: He has gained a comprehensive experience in Europe and in South America at General Motors and Ford Motor Company held various positions in the Administration, Finance and Control, and Marketing (manager revenue management and pricing, business development, management control). In September 2007 he joined SICI where he has the role of investment manager. Gianni Bruschini Investment Manager: He is professionally trained in MPS Finance at the desk of Capital Markets, carrying out, especially, the structuring of securitization transactions. He was involved in project financing for the financial working of an important Tuscan Group operating in the construction sector and in July 2004 joined SICI where he has the role of investment manager. Olivia Mazzoleni Investment Analyst Sara Fabbri Back office and Administration Laura Maria Cristaudo Affari Legali e Societari 7

8 OUR VALUE Institutional Shareholder Trasparent and Indipendent Management The presence on the Board of Directors of members with relevant experience Management with consolidated experience in the sector Our Value Istitutional and Entrepreneurial Network consolidated throughout reference Co-investment operations and ability to attract capital on the territory through consolidated reports with other antional ad international investors and financiers Focus on operations management buyout and generational transfer Investment strategies oriented to excellent SMEs of territory 8

9 HOW WE INVEST Needs of target company: Investment: material assets (plants, machineries, equipments, ), intangible assets (market researchs, patents, advertising campaigns, ), production process (products development, long-term contracts, ); Penetration of international markets; External growth: acquisitions of other companies, mergers / integrations of the supply chain; Management of generational turnover and / or changes in the company structure. Features of operation: Operations of Capital Minority by subscription of a capital increase. Possibility of purchase of shares as part of reorganization of the shareholder base; Financing operations through highly flexible and modulable instruments in depending on the specific needs of company development plans. Usually, the instruments of private debt combine to contained remuneration coupon interest a mechanism for sharing in the growth of company value; Investment: a minimum of euro to a maximum of 5 million euro Duration of investment: between 3 and 7 Years Benefits for the target company: Capitalisation: by the intervention of SICI is possible to define a policy of a robust and consistent plan funding with the goals of growth, rebalancing the composition of financing sources; Capitalisation: by the intervention of SICI is possible to define a policy of funding the Plan robust and consistent with the goals of growth, rebalancing the composition of financing sources; Entrepreneur keeps control decision-making and have a qualified support in every strategic decision, in the management of non-routine processes and in extraordinary operations; Represents an element recognized and appreciated on the market and the stakeholders of the company, enabling improvements in the bank rating (with benefits in terms of economy and more credit) and access to qualified financial skills to leverage the wide network of business and institutional connections which SICI provides to achieve the growth goals. 9

10 HOW WE INVEST Period and Process of the investment: Pre-analysis: the investment opportunity is evaluated first by the team of SICI which examines its consistency with the investment policies; Pre-Negotiation: structure and guidelines of the operation are shared with the Entrepreneur (determination of the enterprise value, future rules of governance, covenant and way out time). The parties sign a non-binding Letter of Intent (LOI); Preliminary of Investment: depth analysis of the opportunity of investment and development program of the company. Drafting of the Information Memorandum and presentation of the files to the Technical Committee of the Investment Fund (the Committee makes a binding opinion on the suitability improving the investment); Deliberation of the Board: The Board of SICI Sgr examines the Information Memorandum, it obtains the opinion of the Technical Committee and the Supervisory Committee for the Conflict of Interest and it decides whether to proceed to invest, ordering the due diligence; 10

11 TRACK RECORD 15 Years of work esxperience 4 Investment funds launched and operational 140 mln of managed 37 subscribers 48 Investment 28 disposals carried out 20 Investment Portfolio Over 15 years of experience on private equity and venture capital in Italy and in the territory of Central Italy; Track record, credibility and reputation established; Based on stable and reliable partnership; Wide network of contacts and direct experiences in the reference territories; Proactive support to the development of the subsidiaries, but not invasively; Base on national and local high-level nvestors and underwriters; Successful and stable team management with a long experience in the sector. Industry awards: In 2010 (sale Sebach) and in 2011 (sale Dedalus) SICI was nominated as a finalist of the Prize Demattè (the best operation 'development capital' put into practice in Italy). In 2012 SICI received a special mention for the valorisation local technology skills, as a result of the completion of the transfer of Hospital Consulting. 11

12 Contatti C o ntatti Sviluppo Imprese Centro Italia SGR S.p.A. Viale Giuseppe Mazzini, Firenze Tel Fax info@fondisici.it Web 12