Columna Capital, an investment company founded in 2009 that targets small and medium-sized European companies with growth potential, has invested over 120 million euros in the capital of MSA Multi Serass, a leading global service provider in Italy in the provision of Business Process outsourcing services in the insurance sector, and acclaim, a reality active in the outsourcing of insurance services (see the press release here). Entrepreneur Giovanni Campus, head of MSA; together with the two managers Fabio Piras and Alessandro Sebastiani, they will reinvest alongside Columna Capital for a minority in the new group. Giovanni Campus will be general manager of MSA and CEO of acclaim. The closing of the operation is expected next April.
Assisting the MSA and acclaim group was Carlo daanan, now head of Alantra’s investment banking, as financial advisor, studio Gatti Pavesi Bianchi Ludovici as legal advisor, BCG for market and seller due diligence and EY and Pirola for accounting, financial and tax due diligence. Columna Capital was assisted by Lms as legal advisor and for the contractual aspects of the financing, by P .c for financial due diligence, by P .c TLS for tax due diligence, by Advant NCTM for the structuring of the deal and by Marsh for the policy W
MSA, founded in 1979 and based in Milan, is the result of a history of success and expansion across the entire claims management value chain. It manages national and international claims in Italy and abroad, through offices located in Italy, France and Spain. Today MSA is now wholly owned by Sirio Holding srl, which in turn is 68% owned by Giovanni Campus, another 27% by Alessandra and Salvatore Campus and 5% by Maria Assunta Rota. Sirio Holding also owns 100% of N4C srl, which coordinates a network of claims experts, including experts, doctors, investigators and evaluation experts, providing both on-site and digital support; 75% of partite srl, an insurtech company with over 350 body shops affiliated in Italy; and 25% of Legalade, a company between lawyers specialized in insurance litigation. MSA closed 2020 with 17.6 million euros in revenues, a negative ebitda of 1.6 million, a net profit of 3.6 million and a net liquidity of 14.6 million (see here the Leanus report, after registering for free).
As for acclaim, based in Trento, it was founded in turn by Giovanni Campus in 2011. Today it is 70% owned by Snaips Holding srl (precisely by Giovanni Campus), 25% by Alessandro Sebastiani and 5% by Anna Mariani. It closed 2020 with revenues of 3.9 million, ebitda of 1.8 million and net liquidity of 1.5 million (see here the Leanus report, after registering for free). It is a business focused on recoveries and back office activities, claims First Notice of Loss (FNOL), recall, document collection, audit and claims management of legal protection, both for insurance groups and for the automotive market.
The new group has an ambitious growth plan, which foresees the expansion of the services offered for the management of claims both future aggregations and an increasingly significant presence in the Italian, French and Spanish markets.
We remind you that Columna, which has offices in London, Lugano and Luxembourg, last June 2021, sold the bianalysis diagnostic centers to the charme fund (see other BeBeez article), of which it held 30% since April 2016 next to the Caslini family (see other bebeez article). Both the Caslini family and Columna Capital (through another fund) reinvested for a minority in the acquisition vehicle.