- Add-on: TriSpan merges Pho, Rosa’s Thai and Mowgli Street Food into the new Arcturus Group while keeping independent operations.
- Acquisition: Nazca Capital acquires Coycama and Becrisa, forming a leading bathroom furnishings group with international ambitions.
- Acquisition: Capital Grand Est invests in ACEA, a French electronics manufacturing services company aiming to scale and innovate.
- Fundraising: Fondo Italiano d’Investimento raises €503 million for FICC II to support high-potential Italian companies across key sectors.
Trispan
Add-on: TriSpan Merges Restaurant Chains Pho, Rosa's Thai and Mowgli
Owned by TriSpan, Pho (£71.1 million of revenue in 2024, London / ENG), a restaurant chain specializing in the preparation of pho, a traditional Vietnamese dish, Rosa’s Thai (£47.9 million of revenue in 2024, London / ENG), a company operating restaurants and cafés specializing in Thai cuisine, and Mowgli Street Food (£30.8 million of revenue in 2024, North West / ENG), a chain of Indian restaurants offering vegan, vegetarian and gluten-free products, join forces within the new Arcturus Group. The three companies will continue to operate independently and will retain their respective management. Note that Rosa’s Thai is also minority-backed by Connection Capital.
TriSpan, press release
Nazca Capital
Acquisition: Nazca Capital Invests in Bathroom Industry Leaders Coycama and Becrisa
Nazca Capital, through its Nazca Small Cap II fund, acquires a majority stake in the group formed by the integration of Coycama (Catalonia / ESP), a company specializing in the manufacture of bathroom furniture, and Becrisa (Valencian Community / ESP), a manufacturer of washbasins, shower trays, shower enclosures, sanitary ceramics, and taps. This merger creates a major player in the industry, with an international presence and sales of more than €40 million. Nazca plans to accelerate the group’s growth by increasing its production capacity, expanding its international expansion, and strengthening its management team. As part of this transaction, the current partners, including the Alemany family and Emilio Santis, will continue to actively participate in the project, by contributing their sector expertise and experience.
Nazca Capital, press release
Capital Grand Est
Acquisition: Capital Grand Est Invests in Electronics Manufacturing Services Company ACEA
Capital Grand Est (CGE) announces its investment in Applications et Constructions Electroniques d’Alsace (ACEA) (€18 million of revenue in 2024, Grand Est / FRA), a company specializing in electronic manufacturing services, offering complete solutions ranging from the design of electronic solutions to the manufacturing of electronic assemblies and sub-assemblies. This investment will allow ACEA to consolidate its position in its current markets, increase its industrial capacities and prepare for technological developments in the electronics manufacturing market.
Capital Grand Est, press release
Fondo Italiano D'Investimento
Fundraising: Fondo Italiano d'Investimento Raises €503 Million for its FICC II Fund
Fondo Italiano d’Investimento announces the successful completion of a new closing for Fondo Italiano Consolidamento e Crescita 2 Fund (FICC II). This new closing, following a €400 million closing last September, brings the total funds raised by FICC II to €503 million. This fundraising was supported by new investor LGT Capital Partners, as well as existing investors such as CDP Equity, Fondazione ENPAM, UniCredit, Intesa Sanpaolo, Inarcassa and other institutional investors from the previous closing. Like its predecessor, FICC 2 focuses on the development of excellent Italian companies in key sectors such as Made in Italy, technology, healthcare and tourism. FICC 2 made its first investment in 2023 by investing in RINA (€797 million of revenue in 2023, Liguria / ITA), a provider of consulting, inspection, certification and engineering services for companies in the marine, energy, environment, transport and infrastructure sectors.
Fondo Italiano d’Investimento, press release