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.

Continue Reading


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:


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”.


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

Continue Reading

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

Continue Reading

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).

Continue Reading

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.


Francesca Baldi (
Nadia Pinelli (
Sara Mandelli (

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.

Continue Reading

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.

Continue Reading