Smart Capital, “permanent capital” industrial holding company specialized in private equity investments and private investments in public equity, has completed the exit from the co-investment in Venpa with proceeds of approximately 400 thousand euros, following the preliminary agreement signed on 10 October 2024 which provided for the acquisition of Venpa by the private equity fund Sagard MidCap (we reported it here).
The Venpa operation, of small size for Smart Capital as it was carried out in the first half of 2021, i.e. at the start of the company’s operations, is part of the business area dedicated to co-investments.
Smart Capital, in fact, together with the main strategy of direct investment in private equity operations and private investments in public equity, co-invests in the best operations that present aligned characteristics, in terms of focus and mission, and alongside, from time to time, the best team of promoters.
With the operation, Smart Capital realizes a significant capital gain equal to approximately 3.2 times the invested capital, achieving an IRR of 38.5%.
The Venpa operation was promoted in the first half of 2021 by Q Capitala company dedicated to organizing private equity investments in club deals in Italian SMEs founded by Stefano Miccinelli, Renato Peroni, Massimo Busetti, Giovanni Pedersoli e Francesco Niutta.
Venpa is an Italian group founded in 1981 with headquarters in Dolo, specialized in the rental of construction site lifting vehicles and earthmoving machinery for the construction and infrastructure sectors both in Italy and abroad, offering complementary consultancy, assistance and training services and transportation. In recent years, Venpa has recorded significant growth and strengthened its leadership position on the Italian market, going from approximately 40 million euros in revenues and 14 million euros in Ebitda to approximately 100 million euros in revenues and 40 million Ebitda planned for 2024, consolidating its presence both through organic growth and through a broad M&A strategy, establishing itself as an aggregator in a highly fragmented market.
