Cavour advised Best Union Company IPO
The Global Offering of ordinary shares of Best Union Company SpA concluded successfully on May 15, 2008. Best Union Company was listed on Mercato Expandi. The fixed price was 3,4 Euro per share. Cavour Corporate Finance acted as financial advisor of the Company.
Best Union Company SpA, a company founded in 1999 in Bologna, is one of the leading Italian operators in design, production, marketing and management of ticketing systems, in electronic access control and in management and organization of services of reception and security in the events.
Best Union Company is the only player which can offer in an integrated way most of the hardware and software and services necessary for the performance of sport events, fairs and shows in general. Best Union Company, has in its portfolio clients, among others, some of the most prestigious Italian football and basketball teams and some of the main districts fair.
In 2007 Best Company reported 10,1 million Euro revenues (+13,7%), 1,6 million Ebitda (+44,8%), 1,28 million Ebit (+97,7%) and 0,56 million net profit (+205%).
The proceeds of the Global Offer calculated on the offer price, net of commissions of the Consortium for Public Offer and the Consortium for the Institutional Placement, amounted to 11.5 million euros.
The Company capitalisation, calculated on the basis of Offer Price, is Euro 31.5 million(and in the case of full exercise of the greenshoe is Euro 33.3 million).
This positive result is particularly significant being the current time not favourable for markets, and the number of new placements on the stock market has reduced almost completely in 2008.
The scope of the floatation is to gain financial resources for the external growth. There are many opportunities in the market both in Italy and abroad and the Company wants to exploit them.
“We are very satisfied with the results obtained – commented Luca Montebugnoli, President and CEO of Best Union Company. With IPO revenues we can realize the investments we have planned and seize the opportunities we are considering and that will allow us to grow both in Italy and Europe.”
According to Filippo Maria Rozzanigo, Partner of Corporate Finance Cavour who advised the Company, “the success of Best Union shows that even in times less favourable, the market is willing to reward the firms with growth and good prospects; the electronic ticketing’s sector and in general of services for fairs, sports, entertainment in which Best Union operates is experiencing a strong growth and aggregation of the major operators. Thanks to the IPO Best Union will become a national player, taking most of the advantages.”