- Anima Alternative, Clessidra Capital Credit & Bracchi’s management also co-invested
- Argos WItyu invested in Bracchi via its Argos Climate Action fund
- Bracchi is a freight transport and logistics company
Argos Wityu has acquired a majority stake in Bracchi, a freight transport and logistics company. The company was owned by private equity funds IGI and Siparex.
Anima Alternative, Clessidra Capital Credit and Bracchi’s management have co-invested alongside Argos Wityu in the transaction.
Lombardy, Italy-based Bracchi has generated a turnover of €205 million in 2022.
The investment thesis is to expand the geographical coverage, acquire new technical know-how in other special logistic niches and grow the customer base, according to a release. The value creation strategy will be supported by a decarbonisation plan, the release said.
Bracchi is the first investment made via its Argos Climate Action fund. Argos Climate Action held its first close at €120 million in September, reaching 40 percent of its initial target of raising €300 million.
“Together with the management, we aim to activate strong buyout fundamentals while deploying proprietary sustainability levers,” said Lucio Ranaudo, senior partner at Argos Wityu.
Paolo Scaroni will chair the new board of directors and will lead the company on its decarbonisation plan, with a strategic focus on biofuels and other sustainable mobility services, the release said.
Argos Wityu is an independent European private equity firm based in Paris.