Eurazeo is supporting the acquisition of Italian project management business EXA Group, which is being bought by leading mid-market investment firm Montefiore Investments (“Montefiore”) from Alcedo Sgr. Eurazeo is providing a unitranche financing solution to underwrite all the debt for the transaction, which marks Montefiore’s debut in Italy.

Montefiore Investment has announced the acquisition of a majority stake in the Italian group EXA, a leader in project management in the luxury retail and hotel sectors. Alongside the founding managers, Montefiore is taking over from the Alcedo Sgr fund, which has been supporting the Group since 2016. This is Montefiore’s first transaction in Italy since the opening of its Milan office in September 2022 and the creation of a team of seven experts 100% dedicated to the local market.

Founded in 2005, EXA has progressively established itself in Italy and internationally as the leader in project management for luxury brands for all their real estate projects: flagship stores, hotels, offices and showrooms. With nearly 250 employees, the Group supports more than a hundred clients worldwide, particularly in Italy, France, the United Kingdom and the United States, and has offices on three continents.

Henri Topiol, Partner at Montefiore and Co-Head Italy, commented:

“We are grateful to Eurazeo for both their flexibility and speed of execution in providing the financing for this acquisition. We are very excited to enter the Italian market and partner with a private debt fund that has the experience and expertise in this region. EXA Group is run by talented and committed entrepreneurs with a strong winning spirit and this transaction is fully in line with Montefiore’s DNA. We look forward to being part of the next stage of development for EXA as it continues on its impressive growth trajectory.”

Francois Lacoste, Managing Partner and Emmanuelle Tanguy Investment Director at Eurazeo, said:

“We are delighted to be partnering with Montefiore and to help their recently established Italian team close their first investment in the country. Montefiore has a proven track record investing in SMEs across Europe and as such are the perfect partner for Eurazeo’s Private Debt funds. We are confident that with the support of Montefiore and Eurazeo, EXA Group will be able to consolidate its position as a market leader, leaning on the financial firepower and expertise of the new investor base.”