The co-promoters of Dutch Star Companies ONE have successfully introduced three SPAC’s in Italy over the last years: Industrial Stars of Italy 1 realizing a Business Combination with LU-VE SpA and Industrial Stars of Italy 2 realizing a Business Combination with SIT SpA. Recently our co-promoters succesfully launched Industrial Stars of Italy 3 at Borsa Italiana.
LU-VE is an Italy-based company engaged in the electrical components and equipment industry and active in Europe, Asia and Australia. With its current market capitalization of €285m (September 2017) the Equity Value almost doubled since the announcement of the combination with Industrial Stars of Italy 1 on 26 January 2015.
The Business Combination was approved by 100% of the funds raised at the Industrial Stars of Italy 1 IPO, launched July 2013. It provided Industrial Stars of Italy 1 shareholders a 26% stake in the company, valued at the time at €141m (6.2x Equity Value/ EBITDA 2014). The proceeds of the SPAC were used to support LU-VE’s growth plans. LU-VE acquired a 95% stake in India-based Spirotech for €32m in October 2016.
LU-VE’s current main shareholders are the Liberali family (50.1%), G4 (17.6%), Norges Bank (2.3%) and Fidelity (1.4%).
For more information see LU-VE website: https://www.luve.it/cms/view/home/s4
SIT Group is an Italy-based manufacturer of power transmission products and active in Europe, North America, Asia and Australia. With its current market capitalization of €272m (September 2017) the Equity Value increased by almost 60% since the announcement of the combination with Industrial Stars of Italy 2 only a few months ago on 31 March 2017.
The Business Combination was approved by 100% of the funds raised at the Industrial Stars of Italy 2 IPO, launched May 2016. It provided Industrial Stars of Italy 2 shareholders a 25.9% stake in the company, valued at the time at €172.5m (6.75x Equity Value/ EBITDA 2016).
The proceeds of the SPAC were used to support SIT Group’s growth plans. SIT Group already has two concrete acquisition targets lined up.
SIT Group’s current main shareholders are the Stefani family, Momentum Alternative Investments, Ersel Asset Management and Symphonia SGR.
For more information see SIT Group website: http://www.sitgroup.it/en/
Recently our co-promoters successfully launched their 3rd SPAC Industrial Stars of Italy 3 at Borsa Italiana. Industrial Stars 3 raised € 150 m total demand from investors was € 284 m.