Corporate M&A

Our main practice areas are acquisitions (both as share deals and asset deals), mergers, joint ventures, and, in general, all extraordinary transactions related to the transfer, aggregation and reorganization of companies as well as financial or industrial restructuring contexts, both with reference to private companies and those listed on regulated markets or multilateral trading systems.

We also advise on corporate governance, corporate and commercial matters.

We assist Italian and international clients, such as industrial groups, private equity, venture capital and private debt funds, as well as family companies and individuals, in investment, leveraged/management buy-outs and management buy-ins. We also assist investment banks and advisory firms in setting up the most suitable corporate structures for each transaction.

We also assist, in the venture capital and startup/SME segment (including in the context of crowd funding, startup incubators and accelerators), investors and entrepreneurs in the various stages from early pre-seed and seed to later round A, scaleup and growth.

Some of our professionals are consistently ranked in Chambers and Partners, one of the leading legal directories.


2025

Go&Co

Assistance to Go&Co – a company owned by two private investors – in the acquisition of the remaining 50% of the share capital of Antal, a global leader in the deck equipment market for sailing boats

2025

Vertis SGR

Assistance to Vertis SGR in connection with a Euro 2.7 million investment round in Live Story, a tech company operating in the digital experience design sector

RASSEGNA STAMPA
2025

Wine Suite

Advised Wine Suite on the equity investment by U.S. private equity firm Performant Capital.
Wine Suite is a tech company providing software solutions for European wineries

RASSEGNA STAMPA
2025

Benelli Broker

Assistance to Benelli Broker, a newly established company of Benelli Assicurazioni, an insurance broker specialised in supporting small and medium-sized enterprises, in its entry into the Ardonagh Group

RASSEGNA STAMPA
2025

Yard Reaas

Assistance to Yard Reaas, an Italian leading company in the real estate services, in the acquisition of a majority stake in Aegis Cantarelli & Partners

2025

Carraro

Assistance to Carraro in defining key aspects of its own governance functional to the IPO of Carraro India in Mumbai.
The TARGET team was composed by Tommaso Amirante e Maria Vittoria Baldino

RASSEGNA STAMPA
2025

Subbyx

Assistance to Subbyx in closing a €15 million funding round.
TARGET had already provided assistance to Subbyx for its prior pre-seed round.
Subbyx is an Italian startup in the subscription economy sector, which allows to subscribe without any obligation to the use of technological products, devices for beauty and personal care, and for new or reconditioned home appliances

RASSEGNA STAMPA
2024

Yard Reaas

Assistance to Yard Reaas, an Italian leading company in the real estate services, in the acquisition of the entire corporate capital of Avalon Real Estate

2024

Marcona 3

Assistance to Tordini and #09, formerly Marcona 3, a holding company of the Tordini family, in the sale of the entire share capital of Tordini and #09 to Monte Bianco Investment AG, a research fund of Novastone Capital Advisors GmbH.
Marcona 3 is a company active in the fashion industry for men and women, including multibrand distribution

2024

Valgroup

Assistance in the merger leveraged buy-out of Clio and Valgroup into Valgroup Italia.
Valgroup Italia is a leading manufacturer of PET and recycled PET preforms

2024

Tes Pharma

Assistance in the capital increase of Tes Pharma – biotech company engaged in the research of active ingredients for therapeutic use

2024

Yard Reaas

Assistance to Yard Reaas, an Italian leading company in the real estate services, in the acquisition of the entire corporate capital of Tecnit@lia Group from the founders

2024

AIC Broker

Assistance to AIC Broker, a historic Italian brokerage firm, in the sale of its entire corporate capital to Wide Group

RASSEGNA STAMPA
2023

Valgroup

Assistance in the acquisition of 100% of the Italian companies Garda Plast and IFAP, manufacturers of PET preforms also with multilayer technology for bottling mineral water, soft drinks, detergents and personal care products.

2023

Diquigiovanni

TARGET in the sale of Diquigiovanni to Sciuker - Assisted by Target for the M&A and corporate profiles the shareholders of Diquigiovanni srl sold 100% of the corporate capital to Sciuker Frames spa the first “Window company” to be listed on the Italian Stock Exchange.
The Target team was composed by Tommaso Amirante e Iacopo Randazzo

2023

Santerno

Assisted by TARGET, Carraro - owner of a significant stake in the capital of Santerno - agreed terms and conditions of the indirect investment in a turnaround scenario by Oxy in the capital of Santerno, world leader in the inverter market, as well as in the execution of the relevant shareholders agreements. Assistance was provided by Tommaso Amirante

2023

Antal

Assisted by Target Go&Co srl - a company participated by 2 private investors - acquired a 50% stake in the corporate capital of Antal a world leader in the market of deck equipment for sailing boats and executed the relevant quotaholders agreements with the other quotaholder

2023

Azimut-Benetti

Assistance to the Vitelli family in the sale of a 33% shareholding in Azimut-Benetti to PIF - Public Investment Fund (the Saudi Arabian sovereign investment fund). Azimut-Benetti is the world’s largest private group in the yachting industry and the leading manufacturer of mega-yachts

2023

Everton

Assistance to Clessidra in the acquisition of the entire share capital of Everton - leader in the production and distribution of teas, herbal teas and infusions with offices in Italy, Croatia, India and the United States - from a club deal headed by Cronos Capital Partners and from reinvesting managers

2023

Fiorini Industries

Assistance to Fiorini Industries, an Italian company specializing in solutions for the HVAC sector (heating, ventilation, and air conditioning), in the sale of a majority stake to Mindful Capital Partners

RASSEGNA STAMPA
2023

Mida

Assistance to Mida, a historic Milan-based company specializing in Risk Management for risk assessment and the development of insurance programs, in the sale of its entire share capital to Wide Group

RASSEGNA STAMPA
2023

Helvi

Assistance to Helvi, a manufacturer of industrial welding machines, plasma cutting machines, professional battery chargers, and accessories, in the sale of 80% of its share capital to the Beta Group

RASSEGNA STAMPA
2023

Lavesan

Assistance to Lavesan, an Italian player in the production and distribution of resins, gel coats, binding pastes, and fiberglass reinforcements, in the sale of a majority stake to the Gazechim Composites Group

RASSEGNA STAMPA
2023

Ire-Omba

Assistance to Ire-Omba, a Bergamo-based leader in the production of hot-rolled rings in all types of steel, alloys, and superalloys for industrial applications in the bearings, oil & gas, and power generation sectors, in the acquisition of a majority stake in Finazzi Osvaldo

RASSEGNA STAMPA
2023

Kos Group

Assistance to Kos Group – active in the assisted living sector – throughout the entire greenfield development process of two healthcare residences and their subsequent sale (with simultaneous lease) to a leading investment fund specializing in the healthcare sector

RASSEGNA STAMPA
2023

Ondeal

Assistance to Ondeal, an innovative startup leading with the 4Deal solution—a marketplace management platform that connects products from various brands across Europe’s leading marketplaces—in the sale of its entire share capital to Gruppo DigiTouch, a Cloud Marketing Company listed on AIM Italia

RASSEGNA STAMPA
2023

Baltex Progetti

Assistance to Baltex Progetti, a joint venture between asset manager KGAL and Premier Group, in the acquisition of two wind farm projects of 70 MW each in Sardinia

2022

Atelier

Assistance to the quota-holders in the sale of 100% of Atelier to Zucchetti group.
Atelier is a leading Italian IT company for the fashion retail market through its software named “Atelier”, an integrated solution for the management of the entire fashion retail flow.

2022

Valgroup

Assistance in the acquisition of 100% of the Italian companies Nuovaplast and 3R. Nuovaplast is a leading manufacturer of PET and recycled PET preforms, while 3R is active in the production of recycled PET

2022

CLUB DEAL

Assistance in the acquisition of shares in the context of the admission to trading of Technoprobe – world leader in the semiconductor and microelectronics sector – on Euronext Growth Milan

2022

Koinos

Assistance in the acquisition of the Platum group, leader in the R&D, engineering and distribution in the micro-mobility sector – in particular with e-scooters and e-bikes under prestigious brands such as Ducati, Pininfarina, Lamborghini, Aprilia, VR 46, Jeep – and gaming accessories

2022

Koinos Capital SGR

Support to Koinos Capital in the strengthening of its management team with the addition of Andrea Munari to the management team already made up of of Beppe Fumagalli, chairman, Marco Airoldi, CEO, Marco Morgese, Francesco Fumagalli and Tommaso Meregalli

2022

The Academy

Assistenza a The Academy, società di consulenza nelle vendite del settore automotive, nella cessione dell’intero capitale sociale a MSX International Holdings Italia, parte di MSX International, specializzata nell’outsourcing dei processi aziendali per i settori automotive e mobility

RASSEGNA STAMPA
2022

Sonnedix Group

Assistance to Sonnedix Group, International IPP owned by JP Morgan Asset Management in the acquisition of 4 photovoltaic plant projects of 20MW RTB in Lazio and Friuli Venezia Giulia

RASSEGNA STAMPA
2021

KOINOS CAPITAL

Assistance in the reorganization of Koinos Capital SGR, management company of the Koinos Uno fund, through the acquisition by Beppe Fumagalli of the shares in the SGR, and part of the quotas of the fund, held by Gianni Mion and Carmine Meoli

RASSEGNA STAMPA
2021

BAW

BAW in the acquisition from the Miroglio Group of the "Caractère" fashion brand

RASSEGNA STAMPA
2021

The managers of Industrie De Nora

The managers of Industrie De Nora in the sale of their interests in the company to SNAM in the context of the exit of Blackstone

2021

The founders of OAMC

Luke Meier and Arnaud Faeh, co-founders of the fashion brand OAMC, in the repurchase of the minority interest held by Onward Luxury Group in OAMC

RASSEGNA STAMPA
2021

MILE Schools

The shareholders in the sale of the entire share capital of Mile – operating bilingual schools Les Galipettes, Mile Kids and Mile School – to International Schools Partnership, an international group operating private schools

RASSEGNA STAMPA
2021

FLY

Assistance to FLY in the voluntary tender offer for the entire share capital of Carraro, listed company and world leader in the production of axles and transmissions for off-road vehicles

RASSEGNA STAMPA
2021

Starlaks Italia

Assistance to Starlaks Italia, a company active in the processing, transformation, packaging, and sale—both for its own account and on behalf of third parties—of salmon and other seafood specialties, in the sale of 100% of its share capital to Arcadia SGR

RASSEGNA STAMPA
2020

Reprosoft

Assistance to Reprosoft, an IT company operating in the fashion retail sector, in the acquisition of Olitec, a software developer

2020

YARD

YARD, an Italian leading company in the real estate services, in the acquisition of the entire share capital of REAAS from the founding partners

2019

Ambienta

Ambienta SGR in the sale of Safim, a Modena-based company specialized in oleo dynamic valves for off-highway braking systems, to DexKo Group, world manufacturing leader of axle and other highly-engineered running gear for trailers

RASSEGNA STAMPA
2019

Equinox

Acquisition of a majority stake in Quid, an Italian-based group specialized in the analysis and design of IT solutions and tech services for the iprovement of business processes and goals

2019

Equinox

Acquisition of a minority stake in Manifattura Valcismon, specialized in the manufacturing of technical sportsware for cycling and outdoor activities, famous with the Castelli brand for the jesrseys for the Giro d'Italia cycling race

RASSEGNA STAMPA
2018

L Catterton & Ambienta

Joint acquisition of Pibiplast, leading manufacturer of plastic packaging for the make-up and pharmaceutical sectors

2018

Equinox

Equinox in the sale, along with other private equity funds and investors, of the entire share capital of Esaote to a consortium of Chinese investors including Yufeng Capital, Wandong, Shanghai Ftz Fund, Tianyi, Yuyue and Kangda

RASSEGNA STAMPA
2018

L Catterton

L Catterton in the business combination between portfolio company Cellular Italia (holding of the group distributing smartphones accessories worldwide under the Cellularline brand) and Crescita, a SPAC listed on the Italian AIM Market

RASSEGNA STAMPA
2018

YARD

YARD, active in the real estate services sector, in the acquisition of SPC, operating in the management of real estate NPL, from Dea Capital

2017

Ambienta

Ambienta in the acquisition of Safim, a family-owned company specialized in oleo dynamic valves for off-highway braking systems

RASSEGNA STAMPA
2017

IRE Holding

IRE Holding, a service provider in the real estate industry, in the acquisition of its competitor, Yard group

RASSEGNA STAMPA
2017

Quattro R

Quattro R in the acquisition of 49% of Fagioli, world leader in the transport, lifting and handling of major heavy items that cannot be transported or lifted by conventional means

2016

Carraro

Sale of 51% of Elettronica Santerno – designer and manufacturer of inverters for the production of renewable energy – to Enertronica, Italian public company manufacturing systems for photovoltaic stations

2015

Carraro

Sale of 55% of O&K Antriebstechnik, German leader in the design and manufacturing of components (planetary gears) for track machines and cranes, mining machines and marine applications, to Italian-based Bonfiglioli Riduttori

2015

Sorin

Cross-border merger with Cyberonics, a medical device company with core expertise in neuromodulation, to form LivaNova, a new global leader in medical technologies listed on NASDAQ and the London Stock Exchange

Euro 2.4 billion

RASSEGNA STAMPA
2015

Carraro

Finaid, reference shareholder of Carraro, in the sale of 18.7% of Carraro to Ms Koranvi Arduini

2014

Capvis

Acquisition of Faster, leading global manufacturing of quick-release hydraulic coupling solutions based in Italy

2013

La Perla

Sale of the entire business to Pacific Global Management, group focused on fashion and global talent management

2013

Bridgepoint

Sale of the superbike business from Infront Sports & Media Group (one of the leading full-service sports marketing companies in the world) to Dorna (organizer of the Moto GP)

2013

Capvis

Purchase of the Arena Group, owner of one of the world's reference brands in aquatic sports