Loan Agency Services, with a team led by Equity Partner Domitilla de Nucci and Principal Attilio Caccetta, supported by Senior Analyst Federico Gori and Analyst Michela Agosti, is the Agent of the Financing Agreement of Auctus Capital Partners, a German-Italian private equity fund manager, which acquired 98.25% of the shares in the subsidiaries of Babcock & Wilcox Enterprises, Inc., a U.S.-based energy and environmental services provider, for $40 million. The acquired companies include the Novara-based Spig, internationally recognized for the engineering and implementation of industrial cooling systems, and the Swedish company Gmab, specialized in the design of industrial flue gas treatment systems.
Auctus Capital Partners co-invested with Spig’s Managers, who acquired the remaining 1.75% of the shares. The transaction was financed by a pool of investors including Anthilia Capital Partners Sgr, Green Arrow Capital Sgr, and Ver Capital.
Auctus was assisted by PedersoliGattai for legal, tax, and financing matters.
Russo De Rosa Associati provided assistance to Spig regarding all legal and tax aspects of the reinvestment structure, the negotiation of related co-investment agreements, the carried interests of the incentive plan, and the negotiation of new management agreements.
Dentons acted with several multidisciplinary teams, handling corporate law, antitrust and Golden Power issues, as well as labor law matters.
Swedish law matters were handled by the law firm Vinge.
Advant Nctm was involved in the financing aspects, while EY conducted the financial due diligence.
Nomura advised Babcock & Wilcox as the financial advisor.
