Russell Bedford Milan Firm Advises Italian Business Information Company on Equity Sale
London, United Kingdom, March 21, 2014 --(PR.com
)-- Studio Corno, Russell Bedford’s member firm in Milan, has advised Brianza-based company Infonet S.r.l. on the sale of an 80% interest in the business to Assicom S.r.l., Italy’s market leader in business information and commercial credit management.
Infonet is an entrepreneurial company with over 15 years of experience in the business information industry and is one of the most important Italian service providers to small and medium-sized banks. Wholly-owned by members of the Moresco family, it had a 2013 turnover of around €5.5 million (+8% compared to 2012) and an EBITDA of approximately €1.2 million. Its success is based on exclusive know-how developed in real estate surveys, with innovative solutions for the development of integrated data on real estate and related liens.
The collaboration between Assicom and Infonet, each having achieved a prominent position in this service sector, respectively for enterprises and banks, aims to allow the development of new highly innovative integrated solutions, with significant benefits in terms of quality for customers. For this reason, Jacopo Moresco, son of Infonet’s founder, Paolo, will still remain with Infonet as its CEO, carrying on the project started by his father.
The acquisition of a majority stake in Infonet is part of a broader expansion plan for Assicom and 21 Investmenti, the Italian private equity group founded and led by Alessandro Benetton, to create a group of companies able to grow both in Italy and abroad.
Led by partners Fabio and Giorgio Corno, Studio Corno assisted Infonet in all financial and legal aspects of the business transaction, as well as providing full support throughout the negotiations.
Studio Corno managing partner Fabio Corno commented: "Family businesses, such as Infonet, play a crucial role in Italy’s economy – to an extent rarely seen in other European countries. We are proud to serve many of these vital organisations, and are delighted to have been able to support Infonet in this very significant transaction."
Notes for Editors
About Russell Bedford International
Established in 1983, Russell Bedford International is a global network of independent firms of accountants, auditors, tax advisers and business consultants. Ranked amongst the world’s leading accounting and audit networks, Russell Bedford is represented by some 460 partners, 5000 staff and 280 offices in more than 90 countries in Europe, the Americas, the Middle East, Africa and Asia-Pacific. Russell Bedford International is a member of the IFAC Forum of Firms and a member of EGIAN, the European Group of International Accounting Networks and Associations.
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