Bubbles BidCo S.p.A.’s €415 Million Notes Offering To Finance The Acquisition Of Majority Interest In Acqua e Sapone Group

Linklaters, Shearman & Sterling, Fivelex, Legance and Simpson Thacher advised on the deal.

H.I.G. Capital, LLC (“H.I.G.”) executed its acquisitions of Cesar di Barbarossa Enio e F.lli S.r.l. (“Cesar”), Gruppo SDA S.r.l. Servizi Distribuzione Associati (“SDA”) and VDM (“VDM”) (together, the “Companies”), which operate under the Acqua & Sapone brand. H.I.G. has acquired a controlling stake in the business, with the Barbarossa family reinvesting in a significant minority position. Terms of the transaction were not disclosed.

Acqua & Sapone is Italy’s leading non-food discount retailer, selling a wide range of household and personal care products at value prices through a network of more than 700 retail locations.

H.I.G. is a leading global alternative assets investment firm with more than $45 billion of equity capital under management.

Linklaters advised Pemberton with a team including partner Roberto Egori, counsel Fabio Balza and managing associate Eugenia Severino.

Shearman & Sterling advised Pemberton and Carlyle with a team led by Philip Stopford, which included partners Valerio Fontanesi and Tobia Croff, associates Leonardo Pinta, Camilla Zanetti and Aldo Schiavo.

The team of Fivelex Studio Legale e Tributario was led by partner Francesco Mantegazza.

Legance advised the original issuer with a team including partners Tommaso Bernasconi and Antonio Siciliano with managing associate Marco Gagliardi, senior associate Silvia Cecchini and Alessia Solofrano, associates Federico Costantino, Alice Giuliano, Federico Liberali and Vittorio Pagano. The team also included senior counsel Francesco Di Bari and associate Chiara Scala.

The Simpson Thacher team included Shahpur Kabraji, Andrew Bechtel, Kristin Hoo and Ashley Bannister (Banking and Credit); and Deborah Harris (Corporate).

Involved fees earner: Francesco Mantegazza – FIVELEX; Tommaso Bernasconi – Legance; Silvia Cecchini – Legance; Federico Costantino – Legance; Francesco Di Bari – Legance; Marco Gagliardi – Legance; Alice Giuliano – Legance; Federico Liberali – Legance; Vittorio Pagano – Legance; Chiara Scala – Legance; Antonio Siciliano – Legance; Alessia Solofrano – Legance; Fabio Balza – Linklaters; Roberto Egori – Linklaters; Eugenia Severino – Linklaters; Tobia Croff – Shearman & Sterling; Valerio Fontanesi – Shearman & Sterling; Leonardo Pinta – Shearman & Sterling; Aldo Schiavo – Shearman & Sterling; Philip Stopford – Shearman & Sterling; Camilla Zanetti – Shearman & Sterling; Ashley Bannister – Simpson Thacher & Bartlett; Andrew Bechtel – Simpson Thacher & Bartlett; Deborah Harris – Simpson Thacher & Bartlett; Kristin Hoo – Simpson Thacher & Bartlett; Shahpur Kabraji – Simpson Thacher & Bartlett;

Law Firms: FIVELEX; Legance; Linklaters; Shearman & Sterling; Simpson Thacher & Bartlett;

Clients: Bubbles BidCo S.p.A.; Carlyle Group; HIG Capital; Pemberton;

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Author: Michael Patrini