After the announcement of the first closing at the end of October, Argos Climate Action, the first European “Grey to Green” buyout fund, entered Bracchi, leader in freight transport and logistics, with a majority stake.
The operation was carried out with the co-investment of Anima Alternative SGR, Clessidra Capital Credit SGR and a group of managers. The company was taken over by the IGI Private Equity and Siparex funds. The transaction was structured with a mix of equity (underwritten by Argos Climate Action Fund, Anima Alternative 1, Clessidra Private Debt Fund), junior financing (provided by Anima Alternative 1 and Clessidra Private Debt Fund) and senior financing provided by BNL and BancoBPM . Important news also for the new Board of Directors, which sees at the top the president Paolo Scaroni and the managing director Umberto Ferretti, who will guide Bracchi towards the challenging decarbonisation objectives.
Bracchi today is among the most important logistics and transport operators at European level, and manages tailor-made services in highly specialized niche sectors such as lifts and escalators, agricultural machinery and oversized transport up to 100 tonnes, but also in the cosmetics sectors, of wine and fashion with the main luxury brands. The company, which has its headquarters in Fara Gera d’Adda in the Bergamo area, and main regional offices in Italy, Germany, Poland and Slovakia, is a point of reference for customers who want to make use of a single interlocutor for any logistical support requirement and distribution in Italy, Europe and around the world. Bracchi has 650 employees and generated, in 2022, a turnover of over 189 million euros by operating from 7 regional offices and 12 hubs in Europe, while revenues of around 200 million euros are expected for 2023.
The business plan for future years includes expanding geographical coverage, acquiring new technical know-how in other special logistics niches and growing the customer base. In line with the Fund’s mission, central to the investment thesis and the creation of value, is the ambitious plan to decarbonise operations which aims to halve the intensity of carbon dioxide emissions over five years in the Scope areas. 1, 2 and 3.
Supported by management’s strong desire to start an environmental transition, the plan is driven by demand from Bracchi’s main customers who are already accelerating the decarbonisation of their supply chain, and is supported by technical solutions validated in a sector with such a high carbon impact based on innovative partnerships.
The acquisition comes at the end of a year of important structural changes and investments for Bracchi, with the implementation of projects with a strong impact on the business. In 2023, the company invested in warehouse automation technologies and safety procedures and laid the foundations for the opening of important new logistics spaces. It has renewed and strengthened its fleet, with substantial investments in the creation of special vehicles tailored for exceptional transport. On the ITC front, the completion of the ambitious project to transition the entire company infrastructure to Cloud computing and the implementation of a cutting-edge Customer Relationship Management system is significant.