FSI establishes new growth and consolidation platform for IT and digital services in Italy with Lynx
Press release
Milan, 18 november 2021
FSI announces the signing of a partnership investment in Lynx – owned by the Moretti family – aimed at establishing a leading player in the Italian digital services sector.
With a turnover of 50 million euros and nearly 600 employees, Lynx represents one of the prime Italian providers of IT and digital services for utilities, banks, insurance companies and the public administration.
The market for digital services in Italy is still under penetrated versus European peers and has been characterised by steady growth and an increasing trend towards consolidation in recent years. Digitalisation is also at the forefront of a substantial new 50 billion euros investment programme by the European Recovery Fund that will further boost various areas of the Italian economy in the years to come. In such context FSI has decided to back Lynx to create a new growth platform with the resources to undertake an organic growth plan and through M&A, with the goal of broadening the Group’s sector and Technologies coverage.
Following the investment’s completion, Matteo Moretti will retain 42.51% of the shares, Federico Moretti 7.50% and the remaining 49.99% will be held by FSI.
“FSI’s investment supports entrepreneurs Matteo and Federico Moretti with the aim of establishing an Italian leading player in the field of digital services while promoting the consolidation of other companies with a solid technical expertise and cutting-edge software and IT solutions. The project, open to other interested parties, is led by two young entrepreneurs whose expertise and dynamism embody the technological revolution that is taking place right now. Through its investment, FSI consolidates its role as promoter of the Italian companies’ digital growth – a role confirmed by other successful operations such as the partnership in Cedacri with the ION Group”, has declared Maurizio Tamagnini, Chief Executive Officer of FSI.
“The partnership with FSI represents a milestone for Lynx. With the additional financial resources and support from FSI we will be able to boost our growth strategy by partnering with other IT companies that believe in this project. As institutional partner, FSI, especially thanks to its track-record in the IT sector, provides further credibility to our growth plan”, says Matteo Moretti, Chief Executive Officer and President of Lynx.
“We consider Lynx an example of technological excellence, with modern entrepreneurs and with a strong drive for growth. FSI investment, mainly made of fresh capital by FSI without any recourse to leverage, will provide the company with a solid financial structure, while being able to expedite its financial growth strategy, in synergy with other players”, declared Barnaba Ravanne, Chief Investment Officer of FSI.
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Lynx is a provider of IT and digital services for utilities, specialised in the design and implementation of solutions to support large companies operating in the Utilities, Banking, Insurance and Public Administration sectors. Operating in Italy, Spain and LatAm with about 600 resources, Lynx is in continuous evolution and growth through external acquisitions is fundamental to achieving the group’s objectives.
FSI sgr S.p.A. (staging-new.fondofsi.it) is an independent management company managing “FSI I”, an Italian Growth Private Equity Fund with capital commitments of ca. €1.4 bln. It is backed by leading Italian institutional investors (including Cassa Depositi e Prestiti), the European Investment Fund (EIF) through the European Investment Bank (EIB), sovereign wealth funds of Middle East, Far East and Central Asia, asset managers, European insurance companies, banks and family offices of large industrial groups.
FSI I targets investments in Partnership with Families and Corporates in mid-market Italian companies with development potential through a differentiated investment formula. The FSI investment formula is based on a moderate recourse to leverage and targets the objective of creating value through organic growth and acquisitions, sector consolidation and succession management. FSI pursues both minority investments with active governance rights and majority investments.
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