Sisal changed hands. From private equity to private equity. This morning CVC Capital Partnership announced that it has acquired 100% of Sisal Group, by the funds managed by Apax Partners, Permira and Clessidra. The transaction, which ė completion expected by the end of September, has an enterprise value of € 1 billion.
The Sisal Group is a leading operator in the Italian market and legal game leader in the payments industry. Established in 1946, Sisal was the first Italian company active in the gaming sector as concessionaire of the State. Through its extensive network, consisting of 45,000 retail outlets, the company offers the public more than 500 payment services. Sisal from ‘employ about 2000 people.
For CVC, led by Giampiero Mazza in Italian, is the third major acquisition after Cerved of 1.13 billion and Doc Generics, last March, to 650 million euro . “We are very pleased to have the opportunity to invest in Sisal. It is a well-diversified reality, with an established brand in Italy and strong market positions in gaming, in lotteries, betting and payment services, “said Mazza, continuing:” Today Sisal is ideally positioned to pursue its growth in different areas. We will support the CEO and his team to consolidate its leadership in the payments industry, to continue the development in its online platforms, and to further innovate its offer in the retail neighborhood. ” For its part the number one Sisal, Emilio Petrone said: “I’m sure, with CVC, we will build a formidable team that will give Sisal can maximize its potential, becoming even stronger and more competitive. Personally, I am excited to lead this new and exciting phase of the company’s history. I want to thank Apax, Permira and Clessidra for the valuable and constant support they have provided to me and the company in recent years. “
The Sisal accounts
declining results for Sisal group in the year 2015. the consolidated financial statements of the previous year declined by 4.1% of total revenues and income compared to 2014, amounting to 787 million compared to EUR 820.9 million. This trend – explains Agimeg, the Journalistic Agency on the Game Market – reflects the trends in the various product / business segments which make up the Group l`attività.
In the “games segment”, the result achieved by numerical games with national totalizator (Gntn) recorded a decrease in premium income of just over 11%, a figure similar to that of related revenues, amounting to approximately EUR 5 million less than the figure registered at the end of 2014, due to the continuing weak general macroeconomic trends, particularly in consumption of non-availability during high levels of the year and the Jackpot maturity profile of its major product and known Gntn the family, the SuperEnalotto, which until the end of 2015 has continued to be the lowest level of pay-out in the relevant market.
In the field of gaming equipment (Adi) the Group, during 2015, similarly to other dealers and operators in the sector, has had to absorb the impact of the evolution of standards, even local, on the game and in particular of the rulings contained in the Stability Law 2015, as the decrease of 500 million euro of the amounts allocated to the operators (dealers, managers and operators) of the gaming machine sector. The sector nevertheless marked a growth of about 6% over 2014.
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