NB RENAISSANCE PARTNERS AND BAIN CAPITAL PRIVATE EQUITY COMPLETE THE ACQUISITION OF ENGINEERING
Milan, July 23rd, 2020 – Following the receipt of the approvals by competent regulatory authorities, Bain Capital Private Equity (“Bain Capital”) and NB Renaissance Partners (“NBRP”), Neuberger Berman’s private equity business in Italy, are pleased to announce the completion of the acquisition of Engineering Ingegneria Informatica S.p.A. (the “Company” and/or the “Group”), the leading specialist provider of IT services, software development and proprietary digital platforms, supporting clients in digital transformation projects.
In the context of the transaction the former shareholders, namely NBRP and funds advised by Apax Partners, sold their entire stakes. NBRP has invested again in the Company through new equity from different funds alongside Bain Capital in an equal partnership deal. Top management has reinvested and the CEO Paolo Pandozy will continue to hold his role, thus ensuring managerial continuity. Founder Michele Cinaglia will use his experience and leadership to continue to support the Company over this new path of growth and development.
The Group’s mission is to take part in the modernization of the world where we live and work, deploying a combination of specialist competences in next-generation technologies, a state-of-the-art single hybrid multi-cloud and the capabilities to interpret new business models.
The shareholders are ready to support the Company in the next phase of growth, exploiting the opportunity arising from the digital wave for which the Company is well positioned, thus strengthening its leadership in the Italian market and its presence abroad, organically and also through acquisitions.
NB Renaissance Partners
NB Renaissance Partners is a fund formed in 2015 from the strategic partnership in private equity in Italy between Neuberger Berman and Intesa Sanpaolo. The NBRP platform currently manages total commitments of €1.8 billion across three funds, NBRP Fund III, NBRP Annex Fund and the first NB Renaissance Partners fund. Neuberger Berman is a global independent investment manager, entirely owned by its employees. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 24 countries, Neuberger Berman has more than 2,000 professionals. As of June 30, 2020 Neuberger Berman manages approximately $357 billion in clients assets, including over $80 billion in alternatives (mainly private equity). For additional information, www.nb.com.
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 240 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 19 offices on four continents. The firm has made primary or add-on investments in more than 760 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, managing approximately $100 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.