FINLOMBARDA, CDP and SACE support the growth of Filippetti Spa

Milan, 17 November 2020 - Cassa Depositi e Prestiti and Finlombarda, the public promotional financial entity of the Lombardy Region, have signed - each for 50% - a 10 million euro loan to support the growth of Filippetti Spa, the 'leader' of the Filippetti Group, one of the leading Italian Global Technology Providers.

The financing, guaranteed by SACE under the 5-year Italian Guarantee program with amortizing repayment, will support the company's working capital requirements and investments. The guarantee has been issued digitally in short time. Ubi Banca acted as arranger of the operation.

Filippetti Spa, based in Milan, is the lead company of the Filippetti Group, owned by RiverRock fund, which deals with 'System Integration' and among the first 'multicloud service providers' in Italy. The group, which has been operating for 20 years in the IT sector, has developed distinctive skills in new markets, developing a wide range of 4.0 solutions in 'digital transformation', mobility, construction, building and Oil & Gas industry.

Filippetti is present in Italy with a total of 12 offices, in particular with its headquarter in Milan, and has more than 320 employees. All this has allowed to reach a turnover of 80 million euros in 2019.

The financial support, provided among others thanks to the resources of CDP to contribute to the restart of the country, will be used by Filippetti to complete the 2020 - 2023 industrial plan and specifically to carry out initiatives aimed at research, development and innovation and the growth of the Company in Italy - including investments in the most innovative markets of IoT, Industry 4.0 and sensor technology related to sensors and smart safety.

The transaction was concluded as part of the 'Syndicated loans' initiative which, with an initial endowment of 100 million euros made available by Finlombarda, finances the investment programs of the Lombardy midcap companies in 'pools' with other financial partners. The financing includes the costs of the investment plan (capex), operational management (opex) and refinancing of existing debt. Interested companies can request Finlombarda's participation in the pool of lenders through the 'mandated lead arranger' financial intermediary.

This operation - underlined Micol Filippetti, Chairman and main shareholder of Filippetti Spa - conducted with our financial advisor P&B Srl, is a great sign of confidence in our Group and allows us to strengthen our financial structure and to prepare for the full recovery of investments that will certainly follow the slowdown of the health crisis'.

With this first operation - explained Michele Vietti, President of Finlombarda Spa - we are adding an important piece to the strategy of consolidating our role as financial partner of local businesses for their economic revival, in partnership with leading financial institutions at national level'.

Finlombarda S.p.A. is the public promotional finance company of the Lombardy Region and financial intermediary supervised by the Bank of Italy. In performing the institutional task of contributing to the implementation of the territory's economic development programs, Finlombarda S.p.A. designs and manages financial products and services - using its own, regional and community resources - in support of Lombardy's businesses and professionals. Finlombarda S.p.A. supports the Lombardy Region in structuring financial operations in strategic areas for the attractiveness and competitiveness of the territory. The General Manager is Giovanni Rallo.

Cassa Depositi e Prestiti is the National Promotional Institute that has supported the Italian economy since 1850. Through its action it is committed to accelerating the industrial and infrastructural development of the country in order to support its economic and social growth. CDP places the sustainable development of the territories at the center of its activity, and supports innovation and the growth of Italian companies, including international ones. It is a partner of Local Authorities, with financing and advisory activities, for the construction of infrastructures and the improvement of public utility services. Moreover, it is active in international cooperation for the realization of projects in developing countries and emerging markets.

SACE is the Italian financial insurance company specialized in supporting businesses and the national economic fabric through a wide range of tools and solutions to support competitiveness in Italy and worldwide. For over forty years, SACE has been the reference partner for Italian companies that export and grow in foreign markets. It also collaborates with the banking system to facilitate access to credit for companies with its financial guarantees, with a role strengthened by the extraordinary measures provided by the Liquidity Decree. With a portfolio of insured transactions and guaranteed investments amounting to 134 billion euros, SACE serves over 23 thousand companies, mainly SMEs, supporting their growth in Italy and in about 200 foreign markets, with a diversified range of insurance-financial products and services.

Filippetti S.p.A. is the leader of a group of companies operating in the Digital Transformation sector. The company, founded in Ancona, has developed throughout the country. In 2019 it achieved 80 million revenues and over 8 million EBITDA. It is controlled by Micol Filippetti, Chairman and CEO, with a significant financial presence in the capital of the RiverRock Hybrid Capital Fund.

The press release in Italian is available here.