Wise SGR
Founded in 2000 by Paolo Gambarini and Michele Semenzato, Wise SGR specializes in the management of Private Equity closed-end funds investing in small and medium-sized companies, with a special focus on Italy.
Over the years, Wise SGR has achieved a unique position in the Italian Private Equity sector thanks to its management approach that considers Wise not only as a supplier of capital, but also as a solid partner with whom to develop and build up the companies in accordance with the requirements of the shareholders and the management.
The Wise SGR team provides support based on a variety of experience and knowledge acquired in the fields of strategic consultancy, investment banking and company management. The skills and know-how cover investment selection, assessment, negotiation and structuring, as well as strategic and operating consulting services specific to the individual business.
The team’s high professional expertise, together with the excellent quality of the partners and investment committees of the funds, enable Wise SGR to contribute pro-actively to the success of small and medium-sized companies, assuring a tailored operating and interactive approach to each specific business.
Wise SGR is owned by the management who is the majority shareholder,
with holdings by Banca Popolare di Milano - following the incorporation of
BPM Private Equity SGR (September 2005).
Wise SGR currently manages the following Funds:
Wisequity II & Macchine Italia (2005), that closed the investment
period in July 2010
Wisequity III (2010), currently investing
Wisequity I and BPM Private Equity Funds had been liquidated
respectively in June 2010 and in December 2010.
Since the very beginning, the funds are focused on small and medium-sized companies and are managed by a qualified and independent team, on the basis of an active and industrial approach.
The fund partners are Banca Popolare di Milano and
Federmacchine, the Confindustria Federation (Confederation of Italian Manufacturers) that groups together the eleven trade associations operating in the sector of goods for manufacturing processes.
Wise SGR manages funds that invest in Italian small and medium-sized companies, with a sales turnover ranging between €20 million and €100 million.
The Team is also involved in Leveraged Buy-Outs and development capital transactions, on behalf of companies that are the leaders in their target market.
The two major objectives are:
-manage family succession transactions, facilitating the entry of professional managers;
-lead “build-up” transactions, in order to enhance both the competitiveness and the capacity to attract managers from the outside.
Through each fund, Wise SGR provides “tailor-made answers” to each interlocutor, supporting - in accordance with the shareholders and the management team - the growth and development of the companies.
The funds are specifically involved in two main types of investment:
Leveraged Buy-Out: acquisition of majority holdings, via
leverage;
Development Capital: subscriptions to increase capital stock in
companies with high growth potential, clear competitive edge, distinctive assets and a top-rate management team.
The average investment size is 5-25 million euro in terms of Equity Value, and 10-75 million euro in terms of Enterprise Value.
Types of Operations
Significant and stable cash flow
Mature sectors and/or opportunities for better profit margins via improvement of operating efficiency Growth / development (investment in higher production capacity to accelerate growth) Financial
restructuring (in case of positive EBITDA) Opportunity for sector consolidation via acquisitions / mergers Market features and position of the target companies
Leveraged
Buy-Out
Development
Capital
Majority stakes, including
co-investment with other closed-end funds Minority stakes only
when having distinctive expertise in the sector or in a specific operation Significant minority stakes Main financial partner The majority shareholder is typically the owner / Managing Director Typical features of the transactions 3/4 years 4/5 years Typical investment period Generational transfer Family or Management buy-out Exit from previous
LBO
Need to reinforce the capital structure Acquisition
opportunities
Reasons of the operation for the seller
Investment Approach
Pro-active approach (not only upon notification) in specific sectors where growth and/or consolidation potential has been identified
Preferential access channels via the sponsor network
Links with professional firms operating in the area as informative partners (in districts, sectors..) or as mere intermediaries
Origin of operations
Internal ability of the team to perform business due diligence
Specialization in the assessment of the professional qualities of entrepreneurs and managers and verification of consistency with Wise SGR’s management culture
Active contribution by members of the Investment Committee Assessment of the investment opportunities and due diligence
Ability of the team to design and use sophisticated financial structures without being influenced by the business size
Expert skills in management control systems
Structure of the operations
Pro-active approach, with a strong involvement of Wise SGR in the management of investee
companies
Daily contacts with entrepreneurs/managers Participation in all major operating decisions Implementation of management control systems Financial/strategic involvement in supporting
growth through acquisitions (follow-on)
Management/ monitoring of the investee companies
Identification of potential targets for the sale of stakes
Wise SGR in-house skills in the management of the exit process and selective involvement of outside advisors
Divestment of stakes
The Management Team
A Management Team with significant experience in Private Equity and a background with skills covering the entire investment/divestment processes.
Valentina Franceschini, Partner
at Wise SGR since 2000. 3 years' experience in investment banking (CSFB)
Paolo Gambarini, Partner
Founding partner. 10 years’ experience in investment banking (CSFB and others)
Stefano Ghetti, Partner
at Wise SGR since 2003. 8 years' experience in investment management (ARCA and Fineco)
Fabrizio Medea, Partner
at Wise SGR since 2000. 6 years’ experience in management consulting (Bain & Co., Andersen)
Roberto Saviane, Partner
at Wise SGR since 2004. 25 years’ experience in management consulting (A.A. & Co. and founder of Considi/Consiel). Senior manager and board member of several companies (Gruppo Ferrovie Stato S.p.A., and De Agostini Invest)
Michele Semenzato, Partner
Founding partner. 7 years’ experience in investment banking and management consulting (Bain & Co., ABN Amro M&A)
Gianluca Boni
at Wise SGR since 2006. 6 years' experience in management consulting (A.T. Kearney) and 3 at Piaggio
Maurizio Moroni
at Wise SGR since 2004. 3 years' experience in management consulting and 5 in a company in the chemical industry (in Italy and the USA)
Luigi Vagnozzi
at Wise SGR since 2005. Previously in BPM Private Equity
Igor Petricca
The Investment Committee
The Investment Committee combines experience and success stories in many industrial and services sectors:
Paolo Ainio
Former CEO Matrix
Lino Benassi
Chairman IDeA Alternative Investments SGR S.p.A.
Guido Corbetta
Professor Bocconi University
Gianmaria Gros-Pietro
Chairman Atlantia
Pierluigi Mazzoldi
Vice Chairman BCC National Pension Fund
Marco Turrina
CEO Banca Akros
Roberto Ferrario
Director Corporate Banking Banca Popolare di Milano
Franco Mosca
Managing Director IDeA Capital Funds SGR S.p.A.
Luigi Tommasini
Senior Partner Fondo Italiano d’Investimento SGR S.p.A.
Main Partners
Banca Popolare di Milano
Fondo Italiano d’Investimento SGR
European Investment Fund (EIF)
Idea Capital Funds SGR
Deal Flow
Proprietary deal flow in important sections ofthe Italian economy
Sponsors
Prominent national and international organizationssupporting the team
Knowledge
Extensive knowledge of small and medium-sizedItalian companies in a diversified range of
industrial sectors
Management Team
Independent managementteam with significant experience and a pro-active approach toward
Private Equity
Investment
Committee
High-profiled and experienced Investment CommitteeFocus
Focus on small and medium-sized companies,a market with a lack of capital offered by independent asset management companies
Wise SGR
Wisequity
Funds
Wise SGR
Wisequity
Funds
A unique position in the Italian
Private Equity sector
Leading Italian company in the design and production of electromechanical systems and components for the railway market. SPII
Leading Italian company in the design and production of formal outer men’s wear, especially suits, jackets and coats.
BOGLIOLI
Leading company in the transport of special products such as waste and chemical products.
GERMANI
Leading supplier of multimedia publishing and content management systems with offices in Milan, New York, Frankfurt and Paris.
Companies Acquired
EIDOSMEDIA
The first italian bank dedicated to italian tobacconists, that offers a number of banking services, such as current accounts, payment cards and securities. BANCA ITB
Largest direct retailer in the jewellery sector in Italy, in terms of both number of stores and total turnover.
STROILI ORO
Italian company specialized in the consumer credit market and in particular in loans to employees with repayments directly deducted from their salaries.
PITAGORA
OPENJOBMETIS Temporary work agency specialized in the supply of services to small and medium-sized companies.
Companies Acquired
Leading company in the Italian tour operating, integrated with an airline and incoming services in major tourist destinations
Publishing group specialized in trade magazines for the distribution, food, entertainment, ICT, building, home & office industries.
GPP & AGEPE
World leader in the production and sale of brake shoes and disc brake supports, with plants in Italy, Canada, Mexico and China. UTIL
INDUSTRIES
ING. CASTALDI ILLUMINAZIONE
Italian leader in the development of hardware and software for time and attendance data collection and access control.
SELESTA INGEGNERIA
Start-up of the CIR group (2003) with four operation areas: homes for the elderly, psychiatry, hospital management, rehabilitation.
KOS
One of the main Italian players in the “architectural / commercial and external lighting” sector, a reference point for product innovation and design.
Companies divested
MARTER Operator in the field of port logistics in
Monfalcone (Trieste), in particular in the niche market of raw materials logistics for the paper industry.
Companies divested
TOTOBIT Company operating in the sector of
electronic invoicing and payment systems for cellular phones, pre-paid cards, credit and debit cards.
SELECTIVE BEAUTY
HYPERPHAR Largest Italian outsourcer of clinical
research for the pharmaceutical industry
Development of an operator in selective cosmetics distribution and licensing on the European market. At the time of sale it was operating in 9 European countries.
EURODIFARM Main Italian operator in the temperature controlled transportation and distribution of pharmaceutical and diagnostic products.
Contacts
Wise SGR S.p.A. Foro Buonaparte 76 20121 Milan Italy tel. +39 02 854569.1 fax +39 02 80509485Information
www.wisesgr.it [email protected]How to reach us
We are located close to Largo Cairoli, just a few minutes walk from Piazza Duomo or the Milano Cadorna station.
From Malpensa airport: take the “Malpensa Express” and stop at Milano Cadorna station (approximately 40 mins.). The taxi ride to our offices takes about 5 minutes.
