www.jakala.com

The leading Italian player among Marketing-Technology solutions providers

Description:

• Jakala is one of the global leaders in the loyalty, consumer engagement and marketing performance segments

• The company supports its clients in topline growth initiatives through a comprehensive portfolio of services across:

  • Marketing

  • Loyalty and rewards programs (e.g. points-based programs)

  • Customer relationship management (CRM) activities

• The Equity Club led the acquisition of a minority stake in the company, along with 3 co-investors: French fund Ardian, PFC (investment holding of the Marzotto family) and H14 (investment holding of the Berlusconi family)

• The investment by The Equity Club ushered a reorganization of the company and will provide support to the organic and external growth plan that will take Jakala to a position of global leadership in its reference market

• Following the sale of Jakala to Ardian in early 2021, TEC and the other existing shareholders purchased minority stakes in the context of the LBO

www.labottega.com

International leader in the amenities market for Luxury Hotels

Description:

• La Bottega is one of the leader internationally in the design, manufacturing and supply of amenities (cosmetics, accessories and textile) for the hospitality market

• The Group supplies on an annual basis more than 180 millions cosmetics to more than 5.000 luxury hotels worldwide

• The uniqueness of La Bottega’s offering is characterized by:

  • Wide range of products and collections

  • High creativity and ability to develop a bespoke offering for each Hotel

  • High attention to quality and reliability thanks to a vertically integrated model

  • Unparalleled selection of licensed luxury and beauty brands

• The rationale of TEC’s investment is to help the founding families in the next development phase of the group with the ambition to consolidate its leadership position globally also through strategic acquisitions as well as the implementation of processes and procedures to achieve operational excellence

Description:

• Philogen is a Swiss-Italian integrated biotechnology company founded in 1996, with the mission to develop innovative biopharmaceuticals for the treatment of angiogenesis-related disorders

• At present, Philogen has various immunocytokines in clinical development for the treatment of cancer and of chronic diseases

• Two products have started pivotal clinical trials in the field of oncology:

  • Daromun: a combination of the immunocytokines L19IL2 (Darleukin) and L19TNF (Fibromun), being developed as neoadjuvant intralesional treatment for Stage III B and C melanoma patients

  • Fibromun: it consists of the anti-EDB human antibody L19, fused to human TNF being tested in combination with doxorubicin in metastatic Soft Tissue Sarcoma patients

• TEC shareholders have taken part in a €62m capital increase

• The management of TEC will work alongside the Neri family and long-term shareholder Dompè Holding to facilitate the next phase of company development

• In March 2021 Philogen IPOed on the Milan stock exchange, collecting additional resources to support its pipeline development

• Following the IPO, the individual TEC shareholders directly own shares of the Company and can decide individually whether to monetize their stakes or remain invested along the next growth phase of Philogen

https://www.lincotek.com/

European leader in high-performance technical surface treatments of metal components and composite materials across multiple multiple applications including orthopedics, aviation and energy

Description:

• Founded in 1973, the Lincotek Group provides surface treatments, additive manufacturing and integrated supply chain solutions to a wide range of manufacturing clients

• The company currently has plants in North America, Europe and China, allowing the Group to offer local support to all its customers

• The markets served by the Group include:

  • Contract manufacturing of prosthetic implants components

  • Surface treatment and related services for gas turbine components for industrial and aerospace use

  • The production of coating machinery

• In 2021, TEC’ shareholders purchased a stake of over 24%, largely via a capital increase, providing the Group with significant resources to accelerate growth through acquisitions

• The TEC management team will assist the Antolotti family and Lincotek’s management in the next phase of international expansion

Description:

Founded by the Zanzi family 40 years ago, HSA is a full-service, private label manufacturer of high-end professional cosmetics produced out of two state-of-the-art facilities located near Varese, Italy

• The Company started off as a premier provider of hair coloring solutions and over time has expanded its product range to encompass hair-, skin- and body-care categories

• HSA has a global reach (over 90% of revenue generated abroad) with over 300 clients in more than 70 countries

• In November 2021, TEC through the vehicle TEC Beauty purchased a 60%1 stake of via a share purchase

• TEC Beauty will partner with the existing management to accelerate growth globally on the back of clearly identified strategic pillars: (i) further extension of the product offering; (ii) penetration of certain key markets (e.g. China and the US); (iii) collaboration with the rapidly growing community of indie brands creators; (iv) launch and expansion of owned brands

Description:

CY4Gate is a company active in the cyber intelligence and cyber security markets, with a comprehensive offer of proprietary softwares

• The company has been listed on the Euronext Growth segment of the Milan stock exchange since June 2020

• On December 16, 2021, CY4Gate acquired the Aurora group, Italian leader in the lawful interception and cyber intelligence space

• This acquisition was funded through a capital increase

  • TEC Cyber – an SPV set up by the shareholders of TEC for the deal – was the anchor investor of this capital increase

  • Following the completion of the capital increase, TEC Cyber holds a 16% stake in CY4Gate

• Investment thesis:

  • Reference market driven by robust growth trends

  • Proprietary software portfolio encompassing the entire cyber space

  • High-end corporate and government clients

  • Remarkable track record of growth with strong upside potential still untapped

Description:

• ART, based in the charming Villa del Pischiello in Passignano sul Trasimeno (PG), is among the Italian leaders in the supply of connected infotainment systems and digital cockpits for luxury sports cars.

• ART counts among its customers the main Italian and foreign luxury sports car brands, which recognise the Umbrian company's excellent technical and technological skills, combined with a very high level of customer care.

• In September 2022, Motortec, a vehicle that encompasses TEC investors, acquired a 95% stake in ART, while the remaining 5% minority stake was acquired by Avio, an Italian aerospace company.

Investment thesis:

• Strong technological skills at a time of great change in the mobility sectors.

• Trusting relationships with major customers and good visibility on prospective revenues.

• Opportunity to secure new customers thanks to the development work carried out in recent years.

• Diversification of target markets by leveraging the experience gained in the automotive world.

Description:

• Based in Lainate, the Group was founded in 1980 as a chassis manufacturer and racing team

• The Group today includes 3 companies:

• Tatuus based in Lainate, specialized in the design and production of single-seater racing cars as well as the supply of related spare parts and assistance services

• Autotecnica Motori based in Casalmaggiore, dedicated to the development, design and production of racing engines

• Breda Racing based in Villafranca Padovana, a manufacturing company engaged in the production of components for racing cars, Formula 1 and luxury hypercars

• In May 2023, TEC Racing S.p.A. acquired an 89% stake in Tatuus through the purchase of existing shares; the remaining 11% stake is owned by Giovanni Delfino (CEO) and Gianfranco De Bellis (Chairman), who reinvested together with TEC Racing in the transaction

• Investment thesis:

• Market position and expertise make Tatuus an ideal platform for the creation of a global leader in motorsport

• Strong international positioning in the production of single-seater racing cars for Formula 4, Formula Regional and equivalent championships

• Diversified customer base served in a one-stop-shop logic (complete car production, spare parts and services)

• Solid R&D and engineering expertise and reputation in the motorsport world, thanks to more than 40 years of activity

• Strongly growing market dynamics and diversification potential into adjacent segments

Description:

• Founded in 1994 from the passion and strong understanding of the cosmetic industry of Vittoria Cicchetti

• The company is based in Bagnolo Cremasco (CR), with offices also in USA and India

• Investment thesis

  • Leading international cosmetics manufacturer distinguished by a large and diverse customer base (approx. 170 customers including multinationals, indie brands and retailers) and loyalty

  • Solid R&D capabilities (with dedicated headquarters also in India) in new product creation and formulation supported by a highly qualified team of technical experts and technological know-how and innovation

  • Direct production capacity also in the USA (GMP and FDA-certified plant) and India

  • Opportunities for organic development (consolidation of under-penetrated geographic areas such as the U.S. and India) and consolidation of active players in other beauty industry verticals (e.g., skincare, fragrances, etc.)

https://www.clubdelsole.com/en

Open-air Villages

Leader in Italy in the camping-village sector, with an integrated business model that combines hospitality offerings with ancillary services (restaurants, bars, swimming pools, equipped beaches)

Description:

- Founded in the 1970s by the Giondi family and based in Forlì, Club del Sole is today the leading open-air operator in Italy, directly managing 23 villages in 7 regions.

- In May 2024, TEC Holiday S.p.A. acquired a minority stake of c. 30 percent in the group. The deal also saw the -reinvestment of NB Aurora with a 19 percent stake, including through the subscription, together with TEC, of a capital increase designed to support future growth. The Giondi family retains the majority of voting rights and continues to lead the expansion project.

Investment thesis:

- Strong growth in open-air tourism.

- Clear opportunity for organic growth through replacement of pitches with mobile homes within the perimeter to increase revenues and margins

- Opportunities for improvement in revenue management both in terms of pricing and occupancy

- Growth by external lines by continuing market consolidation