Civitanavi Systems, one of the main operators active in the design, development, production and marketing of inertial navigation and stabilization systems (for industrial use and in the defense sector) focuses on Piazza Affari.
The placement on Euronext Milan will take place with a capital increase with the objective of gross deposits up to a maximum of around 40 million and will be reserved for qualified and institutional investors; there are no offers to the general public. The final structure of the offering, including its size and other relevant terms and conditions will be determined and communicated immediately prior to launch.
The company, a note reads, intends to use the proceeds from the capital increase to increase production capacity and expand its geographical presence. Furthermore, if the opportunity arises, the company will evaluate growth opportunities through external lines.
«The opportunity we are pursuing represents a great milestone for Civitanavi – explains Andrea Pizzarulli, CEO of Civitanavi Systems -. The business idea was born about ten years ago with the challenge of introducing inertial navigation systems in the industrial field and, in a short time, we managed to become a major player. Civitanavi is today one of the major players in the sector at a global level, the only operator in the market of Itar free inertial systems, i.e. without the stringent control over US exports, with the characteristic of having high performance, and a technology suitable for both navigation and the stabilization of the aircraft for safety-critical applications ». The CEO says he is certain that “the listing on Euronext Milan will give us the opportunity to strengthen the structure, attract talent, and
important challenges of organic growth and by external means, should the opportunities arise. We have the ambition – he concludes – to play a leading role in the global scenario, to contribute to growth and at the same time accelerate the development process of our sector ».
Born as a start-up in 2012 , Civitanavi was recognized as an innovative SME in 2017. The company carries out its business in the Pedaso headquarters, in the province of Fermo, and in two further locations, in Ardea (Rome) and in Casoria in the province of Naples, counting on a staff of 118 employees operating throughout Italy. The company is directly controlled by Civitanavi Systems Ltd, whose majority shareholders are the two co-founders, Andrea Pizzarulli and Mike Perlmutter. The founding partners are flanked by the stakes of two strategic investors, Jung Technologies holding Ag and the Russian company JSC Perm Scientific – Industrial Instrument Making Company, with a consolidated knowledge of the sector, and whose entry is aimed at bringing strategic synergies. Finally, a 5.4% stake is represented by treasury shares assigned to employees.