Corporate Finance Transactions
February 2024 - GammaWave Capital SCF assisted some corporate clients in the indirect acquisition of an equity stake in US-based Medical Microinstruments, Inc.
MMI (Medical Microinstruments, Inc.) is on a mission to advance robotic technology that pushes the limits of soft tissue open surgery and opens new opportunities for surgeons to restore quality of life for more patients with complex conditions. The company was founded in 2015 near Pisa, Italy, and its proprietary Symani® Surgical System combines the world’s smallest wristed micro instruments with tremor-reducing and motion-scaling technologies to address important unmet patient needs.
This first-of-its-kind surgical robotic platform for open, soft tissue micro-level surgery can help address microvascular repair, lymphatic repair, and peripheral nerve repair.
The Symani System is CE Marked for commercial use in Europe. In the United States, the system is not approved or cleared for commercial use.
MMI is backed by international medtech investors including Andera Partners, BioStar, Deerfield Management, Fountain Healthcare Partners, Panakès Partners, RA Capital, Sambatech, and Wellington Partners.
July 2024 – GammaWave Capital SCF acted as the exclusive financial advisor for the sale of Agenzia Valbormida to a leading industrial operator in the sector.
GammaWave Capital SCF served as the exclusive financial advisor to the owners of Agenzia Valbormida S.r.l., a prominent company specializing in the maintenance of heating and air conditioning systems, operating in Liguria and Piedmont. The transaction involved the sale of a majority stake in the company’s share capital to a leading industrial operator in the sector, part of a prestigious international group. Simultaneously, a renowned local agent acquired a minority stake in the company, with the strategic aim of strengthening the business and supporting its expansion on a national scale.
GammaWave Capital SCF coordinated all aspects of the transaction with a team composed of Founder & CEO Alberto Trombetta, Manager Elizabeta Atanasova, and Associate Matteo Colombo, working closely with all parties involved to ensure the success of the operation.
The sellers were supported by the legal counsel of the International Firm Ferraro Ginevra Gualtieri, represented by Mr. Gianrocco Ferraro and Mr. Filomeno Nunziata, as well as by the tax advisory services of Colombo Altamura Pometto, with the expertise of Partner Paolo Altamura and Senior Manager Filippo Onorato.
The buyer, on the other hand, was assisted by EY’s (Ernst & Young) Legal and Tax Firm, with teams coordinated by Director Paolo Spagnol for tax due diligence and Partner Giuliano Zanchi for legal due diligence, contributing to the successful outcome of the transaction.
With this operation, GammaWave Capital SCF reaffirms its role as a strategic partner for businesses, providing tailored solutions for complex and high-value transactions. The ability to coordinate cross-functional expertise and collaborate with other professionals was crucial in achieving this significant result.
October 2022 – GammaWave Capital SCF assisted some corporate clients in a secondary market acquisition of a minority stake in Israel based Sonivie Ltd.
SoniVie is an Israeli company developing a novel proprietary Therapeutic Intra-Vascular Ultrasound (TIVUS™) System to treat a variety of hypertensive disorders. In particular, Sonivie is conducting a FDA IDE-approved Pilot study to treat Hypertension with its Renal Artery Denervation TIVUS™ technology. Renal Denervation with TIVUS™ is a minimally invasive procedure that uses high-frequency non-focused Ultra-Sound energy to ablate nerves in the renal artery. This causes a reduction in the nerve activity, which may decrease blood pressure. This procedure is designed for patients who suffer from resistant hypertension. Resistant hypertension is defined as blood pressure higher than 140/90 mmHg despite use of three antihypertensive medications of different classes at the best tolerated doses, one of which must be a diuretic. Millions of people world-wide suffer from resistant hypertension which substantially increases the risk of heart attack, stroke and kidney failure.
July 2022 – GammaWave Capital SCF supported Italgen, a participation of Italmobiliare S.p.a, and Verdenergia, part of Quiris S.a.p.a., as exclusive financial advisor in the acquisition of the 100% of Rovale S.r.l., owner of a hydroelectric power plant with an installed capacity of 0.5 MW in the Verbania province. GammaWave Capital SCF intervened from the initial sourcing of this unique hydroelectric opportunity all the way to the closing of the M&A transaction.
Italgen and Verdenergia co-invest in the acquisition of a hydroelectric power plant in Piedmont.
Italgen and Verdenergia confirmed today that they have finalised the acquisition of 51% and of 49% of Rovale Srl, a company that operates a mini-hydro power plant in the Alto Piemonte area.
Villa di Serio (BG) – Genoa, 06 July 2022
Italgen, a subsidiary of Italmobiliare S.p.A. (Pesenti Family) and Verdenergia Srl (a subsidiary of Quiris S.a.p.a., whose main shareholders are the Risso Family of Genoa and the Quirico Family of Turin) confirmed today that they have acquired, respectively, 51% and 49% of Rovale S.r.l., a company holding of assets and licences relating to a hydroelectric power plant with an installed capacity of 0.5 MW in Val Divedro, Verbania province.
The sellers are Argo S.r.l. and Gian Antonio and Antonio Pavan, chartered accountants in Domodossola.
The Rovale power plant started operation in 2015 and consists of a two-jet Pelton turbine unit with an annual production in the region of 2 GWh, which is realised by exploiting a 376-metre drop.
For Italgen, this is the third investment operation in the space of a year, in addition to both the 8 hydroelectric derivations acquired through Idroenergy in June 2021 in the province of Verbania and Vercelli and the 2 additional derivations acquired last autumn through Idrodezzo in the municipality of Schilpario. With this acquisition, Italgen’s total installed capacity increases to 66 MW with approximately 327 GWh of energy produced annually, and the number of hydroelectric derivation concessions managed rises to 28.
For Verdenergia, on the other hand, this is a strong consolidation operation in the hydroelectric sector, since it already manages, between activities in Italy and those abroad in Albania, as many as 27 hydroelectric plants as well as 2 photovoltaic parks in Piedmont and Veneto, for a total installed capacity of 32 MW and approximately 92 GWh of energy produced annually.
Luca Musicco, CEO and General Manager of Italgen, and Umberto Risso, President of Verdenergia commented on the transaction: ‘Italgen and Verdenergia share the same values, the same focus on sustainability and the same focus on sustainability and production efficiency. The combination of our respective commitments with a long-term perspective is certainly the best way to seize other possible co-investment opportunities in Italy in a sector, that of renewables, which has undoubtedly become key in the ecological transition’.
The buyers were assisted by Studio Internazionale Ferraro Ginevra Gualtieri for the legal profiles, Studio Colombo Altamura Pometto for the fiscal ones, with the support of GammaWave Capital SCF for the financial aspects.
May 2022 - GammaWave Capital SCF supported industrial holding Fin.Esse S.p.A. in the acquisition of a stake in UK company Salvalco Ltd alongside top investors Beiersdorf, Foresight Williams Technology, AWI Ltd, Growthdeck Ltd and Green Angel Syndicate (GAS).
Salvalco, developer of the highly innovative eco-friendly aerosol technology - Eco-Valve, has become the market leader in inert gas propelled aerosol technology. Its valve uses environmentally friendly nitrogen as propellant rather than butane, a contributor to global warming. Thus, reducing carbon footprint and the use of harmful pollutants, whilst still offering unbeatable spray performance.
Sustainable aerosol tech company Salvalco celebrates successful fundraise from consortium of six
UK-based Salford Valve Company Ltd (Salvalco) is delighted to announce its latest round of investment for £2.5million.
The funds are being raised from a consortium of six companies including Beiersdorf, Foresight Williams Technology, AWI Ltd, Fin.Esse S.p.A., Growthdeck Ltd and Green Angel Syndicate (GAS) Salvalco, which was founded in 2013, is responsible for creating the highly innovative eco-friendly aerosol technology – Eco-Valve.
The market leader in inert gas propelled aerosol technology, the valve uses environmentally friendly nitrogen as its propellant rather than butane, which is a contributor toward global warming. Eco-Valve enables reduction in carbon footprint and the use of harmful pollutants, whilst still offering unbeatable spray performance.
Iconic brands such as NIVEA are already using the Eco-Valve technology for their products. Last year, NIVEA developed its first deodorant range with the Eco-Valve: NIVEA ECODEO.
The valve, which is protected by eight global patents, is fast becoming a popular alternative to traditional valves and helping to support consumer demand for more environmentally friendly options.
The funds will be used to expand manufacturing capacity at Salvalco’s plant in Thailand. It will also be invested in R&D operations and to further develop the patent portfolio.
As global demand for aerosols continues to increase (with aerosol use forecast to rise 25% in the next 4 years), Salvalco anticipates that more consumer goods companies will switch to its eco-friendly valve.
Peter Shaw, Managing Director of Salvalco:
“We are thrilled to have secured further funding from such a great consortium of companies. The collaboration will play an integral part in helping the next phase of our growth journey as we see the demand for Eco-Valve continue to rise. Moreover, the partnership also demonstrates a strong shared commitment to supporting the environment too. And it is by working together with all our stakeholders, we passionately believe we can not only support the aerosol industry but revoluntionise it.”
Edoardo and Stefano Queirazza, owners of Fin.Esse S.p.A., added:
“As an industrial holding in the cosmetics sector we are committed to sustainability for our industry and believe Salvalco Eco-Valve technology represents a proven, transformational solution”.
September 2021 – GammaWave Capital SCF assisted some corporate clients in the acquisition of a minority stake in Israel based Beyeonics Surgical Ltd and Beyeonics Vision Ltd.
Beyeonics Surgical and Beyeonics Vision are medical technology companies that aim to interface the systems in operating rooms using augmented reality, tracking and image processing/AI platforms, providing surgeons with valuable information and decision guidance while performing automatic tasks. The technology is designed to establish a new visualization and control standard in operating rooms by creating an integrated work environment. Focused on Ophthalmology, Beyeonics Vision is planned to begin commercializing its product Beyeonics™ One in the U.S. by the end of 2021, following more than 300 successful cataract and retina surgeries performed in the U.S. and Israel. Beyeonics Surgical is focused on Neurosurgery and Orthopaedics products, with pipeline applications that include minimally invasive surgery and surgical robotics. The companies leverage cutting-edge imaging and head-mounted display (HMD) technologies originally developed for aerospace applications.