PUNTO PACK S.r.l. acquires MAV S.r.l.

August 2nd, 2021, with the support of Baldi Finance S.p.A., which acted as financial and negotiating advisor, and Baldi and Partners – Avvocati e Commercialisti as  contractual and legal advisor, providing also  due diligence activities, PUNTO PACK executed the share purchase agreement, acquiring the majority stake of the share capital of  MAV S.r.l., signing also an option agreement to reach a total shareholding by 2024.

TERASTONE S.r.l. also participated in the transaction alongside PUNTO PACK, acquiring a 12.5% stake in MAV.

Entrepreneur William Tozzi will retain a 33.33% stake in MAV’s share capital.

Acquiring companies

PUNTO PACK S.r.l., based in Parma, offers modern solutions and a complete service for primary packaging to companies operating in the pharmaceutical, cosmetic, dietetic, food and industrial sectors.

Punto Pack, led by Roberto Nisica and Luca Marchetti, is the first Italian company producing primary plastic packaging to obtain the B-Corpcertification, which is awarded only to companies that manage business as a positive force and comply with the highest standards of social and environmental performance, transparency and responsibility.

TERASTONE S.r.l., based in Parma, is a holding company owned by entrepreneurs Francesco Palladini and Roberto Nisica.

The Target Company

MAV S.r.l. is one of the most interesting companies in the field of “wide mouth” packaging.

Active since 1965 and now in its third generation, it designs and manufactures plastic packaging for the cosmetics, food and parapharmaceutical sectors, with headquarters and factory in Zola Predosa (Bologna).

Purpose of the operation

The purpose of this operation is to strengthen the industrial division and give continuity to PUNTO PACK and MAV, which have been successfully operating for many years in the production and marketing of primary packaging (bottles, jars, closures and accessories, etc.). In addition to industrial and commercial synergies, the sustainability-related activities developed to date by the two companies will be shared and enhanced.

Group financial data

In 2020, the Group achieved an aggregate turnover of EUR 26 million with an EBITDA of EUR 5.5 million (21%). Aggregate shareholders’ equity is EUR 10 million and NFP is approximately EUR 7 million.

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 Comments

“The MAV operation”, says Roberto Nisica – President of Punto Pack, “was born first and foremost out of a partnership with its owner William Tozzi, with whom we have shared technical, operational and commercial experience for years. Becoming effective partners will allow us to put in place a range of synergies that are the leitmotif of our growth, such as integration and production optimisation, together with range complementarity and logistics rationalisation. ”

“I have always felt comfortable working with Roberto Nisica,” says William Tozzi – President of MAV. “Being able to collaborate more closely and give my contribution to the growth of this group fulfils what I had wanted for this company that represents my professional life. Punto Pack’s production, organisational and innovation skills, combined with MAV’s specific know-how in the cosmetics sector, will be a combination that will give us great satisfaction in the future. ”

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Studio Baldi & Partners assisted the shareholders of BiDue S.r.l. in the sale of their shares, representing the entire share capital, to Eusider S.p.A., a transaction concluded in the first week of the new year.

The Bidue S.r.l. company, based in the town of Melara in the province of Rovigo, has been active since 1981 in the design, production and marketing of carbon steel circular section tubes, while Eusider S.p.A. of Milan is an important company in the distribution and services of the iron and steel sector.

The four shareholders in Bidue S.r.l., all belonging to the Borghi family, were assisted by Studio Baldi & Partners, which operated with a team of professionals coordinated by senior partners Francesca Baldi, Carlo Baldi and Guido Prati, with the contribution of colleagues Ilaria Ballabeni and Niccolò Reggi. The aspects linked to labor law were followed by partner Sara Mandelli.


The purchaser was  assisted by a team of specialists from Studio BonelliErede for antitrust, tax and labor law profiles, also with the collaboration of the Transaction Services team of beLab S.p.A.


This operation brings to a positive conclusion an evolution of the Italian metallurgical chain that sees an excellent positioning of the quality of its products on the world market. In fact, the current export quota of Bidue S.r.l. is 80% and it is hoped that, with this operation, it will increase further.

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THE STUDIO BALDI FOUNDATION “NO SMOG” CALL FOR SCHOLARSHIPS: AWARD CEREMONY FOR THE WINNERS OF THE SELECTION

The Studio Baldi Foundation non-profit organization issued a National Call on the theme “NO SMOG – Restoring cities: ideas and projects to solve the problem of pollution, improve the environment and produce clean energy“, which was responded to by 23 graduate students and postdoctoral fellows from several Italian universities, who submitted their degree theses and doctoral dissertations.

The selection board – chaired by the Rector Magnificent of the University of Modena and Reggio Emilia, Professor Angelo O. Andrisano – consisted of several scholars, university professors and experts in the health sector.

After a detailed examination, the following ranking was obtained, for the definition of the winners and the awarding of the four scholarships:

DEGREE THESES:

1st place: Bilardo Matteo – Turin Polytechnic – Thesis title: “Performance Analysis and optimization of an integral collector storage (ICS) prototype with PCM”
2nd place: Gentile Francesca – University of Ferrara – Thesis title: “Photoelectrochemical and spectroscopic characterization of perfluorinated porphyrin for water splitting”.
3rd place: Piccolo Federica – University of Modena and Reggio Emilia – Thesis title: “Biochar: enhancement in geopolymers”.

DOCTORAL DISSERTATIONS;

1st place: Banella Maria Barbara – University of Bologna – Dissertation title: “New strategies for the preparation of high-performance bio-based polymers”.

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Baldi Finance achieves a very important accreditation from the Malta Stock Exchange

Baldi Finance, a company focused on M&A, Ipo  and Corporate bond transactions, achieves a very important accreditation from the Malta Stock Exchange. Just today Baldi Finance  has been approved  to act as Corporate Advisor on Prospects, a Multilateral trading facility (MTF) organized and managed by Malta Stock Exchange. Such an accomplishment follows the accreditation as  Nominated Adviser (or Nomad) on Aim Italia achieved in 2010 released by Borsa Italiana. Baldi Finance has been involved in several Ipo either on Aim Italia and MTA (Star segment in particular)  resulting in one of the most active players on the Italian stock exchange market. The status of Corporate Advisors on Prospects (a new and fast-growing MTF) potentially opens further opportunities for SMEs wishing to raise capital to finance their investment programs also from foreign investors more liaised to the English environment and culture. In carrying out its activity of Nomad, Corporate Advisor and financial advisor on M&A, Ipo and Corporate Bond transactions,  Baldi Finance relies on a close collaboration with Baldi & Partners which provides legal, tax and accounting services.

Press release Malta Stock Exchange

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Baldi&Partners Borri S.p.A.’s advisors in the share purchase by Legrand Group

Borri SpA, its shareholders and managers were assisted by Baldi & Partners – Attorneys and Accountants (Reggio Emilia – Italy) by the partners Francesca Baldi (Lawyer) and Simone Caprari (Tax Attorney).

Studio Pirola Pennuto Zei & Associati has assisted the Legrand Group (global specialist in electrical and digital infrastructure of buildings) in the joint-venture operation for the acquisition of Borri SpA, specialised in Italian UPS trifase and recognized for its delivery of tailor-made solutions. Borri has approximately 200 employees and an annual turnover of about EUR 60 million.
Legrand, listed on the Paris Stock Exchange, is present in more than 90 countries with a global turnover of about EUR 5 billion in 2016. It was assisted in negotiating the strategic agreement by Pirola’s Studio with a team led by both Anne-Manuelle Gaillet , Lawyer in Milan and Paris,  and Anna Lisa Sepich (Lawyer).

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Baldi&Partners advisor of B810 in the acquisition of Digicom

B810 srl, a company active in the design and production of electronic systems and in the development of innovative technologies for the Internet of Things, acquired 100% of Digicom Spa, a company active in the development and design of telecommunication and data transmission devices, operating on the market since 40 years.

For B810, Baldi & Partners acted as legal advisor, K Finance acted as financial advisor, while the accounting due diligence was conducted by Analisi Srl, Reggio Emilia. Digicom was assisted by Studio Reggiori & Associati in Varese and, as a legal advisor, by Studio Pedersoli e Associati. The acquisition was funded by Banca Popolare dell’Emilia Romagna.

BALDI&PARTNERS team:

Francesca Baldi (francesca.baldi@baldiandpartners.it)
Nadia Pinelli (nadia.pinelli@baldiandpartners.it)
Sara Mandelli (sara.mandelli@baldiandpartners.it)

by a strong impetus for growth and innovation, closed 2016 with a 21 million Euro turnover and about 200 between employees and collaborators, operating a production plant of about 8,000 square meters in Reggio Emilia; In 2016 it opened a component assembly plant in Albania and a research and development department specializing in innovative technologies at the Pula research center (Cagliari).

Cardano al Campo (Varese), which develops and designs devices and technical solutions in data transmission for customers operating in multiple sectors: from automotive to gas metering, from industry to the production of elevators. In 2016, Digicom realized over 30 million Euros of turnover with about 50 employees, mostly technicians and engineers.

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Baldi&Partners acted as legal advisors to Comet S.p.A. (Emak Group) in acquisition of 83.1% of Lavorwash S.p.A

Comet S.p.A., a company heading a group of leading global operators in pumps for agriculture and high-pressure water jetting, and controlled by Emak S.p.A., a company listed on the Star segment of the Italian stock market controlled by Borsa Italiana, has closed today a binding contract for the acquisition of 83.1% of Lavorwash S.p.A., by Zenith S.p.A. (belonging to the Lanfredi family) and by the Migliari family. The contract also foresees the entering into option agreements for the transfer of a further 14.7% of the share capital.

Comet was assisted in the operation by Baldi&Partners in the role of legal advisor by the name partner Francesca Baldi.

Sellers Zenith S.p.A. and the Migliari family were assisted by Law Firm Sutich Barbieri Sutich, with a team formed by name partner Giorgio Barbieri and associates Mario Varchetta and Alessandro Nironi Ferraroni.

Lavorwash, headquartered in Pegognaga (MN), Italy,  is the leader of an active Group in the design and manufacture of a wide range of machines for the cleaning sector such as high pressure cleaners, vacuum cleaners, and floor scrubbers.

The value of the transaction (in terms of price subject to adjustment) for the acquisition of 83.1% of the share capital of Target is around 54,800,000 Euro.

The operation between the two Italian groups is based on solid long-term strategic and industrial preconditions.

In particular, the agreement offers the opportunity for Comet S.p.A. to accelerate the growth of its business in the “pumps and high pressure water jetting” segment, and at the same time allows Lavorwash to share with the Emak Group a development path based on common business values and a long-term horizon.

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