QuattroR, a private equity fund that promotes the development of Italian companies of excellence, has acquired a stake inNext Different througha €20 million capital increase. The company aims to grow externally, with the goal of consolidating its position in the Italian market, including through the aggregation of target companies already identified. The transaction, subject to the usual Antitrust and Golden Power authorization processes, will be completed after the summer, at the conclusion of the corporate reorganization that involves the merger of Next14, Different, and the parent company SAE Communication into a single legal entity: Next Different.
As part of the transaction, Next Different was assisted by Clearwater as financial advisor; with the support of Dr.Massimo Briolini(CFO of Gruppo SAE) and Eng.Pasquale Marchese(director responsible for efficiency and development at Gruppo SAE) -; byPaolo MordentiofStudio Mordentiand, for the legal aspects of the agreement, byLCA Studio Legalewith a team led by equity partnerRiccardo Sismondi, assisted by mid associateGianmarco Corradiand traineesFabrizio Miceli andGinevra Losi.
The transaction was coordinated with Gruppo SAE byMarco Racano(head of the legal department at Gruppo SAE),Francesco Di Ciommo of thelaw firm Di Ciommo & Partners, andAMTF lawyers, with a team composed of partnersAlberto Crivelli andNicholas Parati, and traineeFederica Meloni.
The QuattroR fund was assisted by Intesa Sanpaolo – IMI Corporate & Investment Banking Division. Legal aspects were handled by Simmons & Simmons, with a team led by partnerAndrea Accornero, supported by counselMoira Gambaand associateIda Montanaro.
For tax advice, QuattroR relied onSpada Partners, with a team led by partnerLuca Zoaniand associatePasquale Miracolo.
Deloitteacted as advisor on financial, legal, and labor law due diligence aspects.
The transaction, subject to the usual antitrust and Golden Power approval processes, will be completed after the summer, following the conclusion of the corporate reorganization that will see Next14, Different, and the parent company SAE Communication merge into a single legal entity: Next Different.
QuattroR will join the current shareholders of Next Different – Gruppo SAE,Marco Ferrari(Next24),Davide Arduini, andAndrea Cimenti– with Gruppo SAE retaining control through a holding company representing the current shareholders. The fund's entry aims to accelerate the company's growth path, which aims to consolidate its leadership in Italy with further M&A transactions.
