IDEA Corporate Credit Recovery I Acquires Italian-based Targetti Sankey
IDea Corporate Credit Recovery I (“ IDeA CCR I”), first italian DIP (Debtor-in-Possession) Financing close-end fund, managed by IDeA Capital Funds SGR (belonging DeA Capital Group), has completed the investment in Targetti Sankey S.p.A. (“Targetti”), the historical lighting Company based in Florence.
IDeA CCR I, in the contest of the debt restructuring process, has acquired the entire stock capital of Targetti Sankey.
The aim of IDeA CCR is to accelerate the Company growth at global level, leveraging on the strong technological and designing know-how owned by Targetti, icon of the Made in Italy tradition.
The deal has been supported by the law firms Studio Legale Associato Linklaters and CBA Studio Legale Tributario. The sellers were assisted by Vitali&Co as advisor.
About Targetti Sankey:
Targetti has been designing and producing indoor and outdoor architectural light fixtures since 1928. Targetti is present all over the world with a network of branches spread over major European and non-European markets: France, Spain, Great Britain, Russia, the United States, the United Arab Emirates and China.
Source Press Office De Agostini