Information on the Target

Terminal Darsena Toscana (TDT), headquartered in Livorno, Italy, is a prominent container terminal that serves as a crucial gateway for the central and north-eastern Italian markets. Under the ownership of Infracapital and InfraVia Capital Partners, TDT has significantly enhanced its operational performance and established itself as a key player in the region’s logistics and shipping landscape.

During the partnership, Infracapital and InfraVia focused on strengthening TDT’s senior leadership, investing in advanced terminal equipment, and implementing a comprehensive operational improvement program. These strategic initiatives not only bolstered the terminal's market position but also showcased its resilience during challenging economic conditions.

Industry Overview in Italy

The port and shipping industry in Italy plays a vital role in the national economy, serving as a key conduit for international trade. With strategic locations along the Mediterranean, Italian ports are essential for importing and exporting goods, making them indispensable to the European supply chain. The nation's robust infrastructure and developed logistic networks contribute to its appeal as a prime destination for maritime operations.

In recent years, the Italian port sector has experienced significant transformations, with investments geared towards modernization and sustainability. The increasing demand for container shipping and improvements in port efficiency have enhanced the competitiveness of Italian terminals on the global stage. Collaborations between public and private sectors have also paved the way for better operational practices and investment in state-of-the-art facilities.

Moreover, the growing emphasis on environmental sustainability has influenced the industry in Italy, pushing terminals to adopt greener technologies and practices. The integration of advanced digital tools in port management systems facilitates smoother operations and increased throughput, which are crucial in supporting the rising cargo volumes.

Italian ports are strategically positioned to benefit from the anticipated growth in global trade, making investments in this sector particularly compelling. With Italy being a nexus for European shipping and logistics, the area is poised for sustained growth, attracting further investment and innovation.

The Rationale Behind the Deal

The decision by Infracapital and InfraVia Capital Partners to sell their 100% stake in TDT to the Grimaldi Group is driven by the successful performance and growth of the terminal under their stewardship. The collaboration not only enhanced TDT’s operational capabilities but also positioned it favorably for future expansions. The sale aligns with the strategic goals of all parties involved, as it allows for continued growth and investment in TDT under Grimaldi's ownership, while providing returns for the investors.

By exiting at this juncture, Infracapital and InfraVia capitalize on the terminal's developed intrinsic value and strong market position. The deal represents a logical conclusion to their investment strategy, affirming their commitment to value creation and optimal returns on their investments.

Information About the Investor

Infracapital, the infrastructure equity investment branch of M&G Plc, excels in investing, building, and managing essential infrastructure projects tailored to meet societal needs and foster economic growth. With a robust portfolio, Infracapital emphasizes sustainable and stable growth, actively participating in enhancing the performance of its investments. The firm has successfully managed over €7.8 billion of client capital and has a diverse investment strategy across Europe, working closely with local communities to ensure mutual benefits.

InfraVia Capital Partners is a premier independent European private equity firm with a specialization in infrastructure, real assets, and technology investments. Managing €12 billion in capital, InfraVia has supported more than 50 companies across 13 European countries, focusing on fostering growth and transforming businesses into leading platforms in their respective sectors. Together with Infracapital, InfraVia's expertise facilitated TDT's impressive trajectory during their ownership period.

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The sale of Terminal Darsena Toscana to Grimaldi Group reflects a well-considered exit strategy for both Infracapital and InfraVia, marking a successful investment journey characterized by growth and enhanced operational efficiency. The strategic efforts made during their ownership have amplified the terminal's intrinsic value, making this a potentially lucrative investment for Grimaldi as they aim to leverage these improvements to expand TDT's market share.

Furthermore, the flourishing landscape of Italy's port and shipping industry presents opportunities for sustained growth post-acquisition. Grimaldi Group’s established reputation and resources position them well to further capitalize on the strategic advantages that TDT offers. This acquisition aligns with Grimaldi’s long-term objectives to enhance its operational footprint and serve the rising demand in maritime logistics.

In summary, this transaction could be classified as a sound investment, not only due to TDT's established market position but also the ongoing potential for growth within the Italian logistics sector. The successful operational improvements initiated by Infracapital and InfraVia provide a solid foundation for future developments under Grimaldi's ownership.

In conclusion, the sale exemplifies a strategic move that resonates well within the framework of growth in Italy's port infrastructure, providing a promising outlook for the new owners while allowing Infracapital and InfraVia to realize substantial value from their investment.

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