Il Gruppo I.V.R.I. is the largest security service provider in Italy (guards, alarms and cash handling), with total sales of approximately €170 million. It concentrates on regions where it is the absolute leader (including Milan, Italy’s most important market).
21 Investimenti is a private equity investor, controlled by the Benetton family, with significant experience in labour-intensive business services.
Banca Leonardo is an independent merchant bank, offering a wide range of investment and securities services.
Cross Border was selected by the owners to assist in the sale, because of its position as the only industry specialist in Italy. Our clients believe firmly that the security industry requires considerable insider knowledge in order to be correctly represented to financial investors.
We registered a record EBITDA multiple, equal to or higher than listed international peers. Successful completion required considerable resources and know how. The Group is composed of about 20 legal entities, unaudited and unconsolidated. Profitability of the industry suffered heavily in 2006, due to national labour conditions. The key to success was creating a consensus view of 2007.