Luxembourg-based OPM buys RegTech Open Project minority from The AvantGarde Group17 Dec 2021 13:53
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Luxembourg-based OPM buys RegTech Open Project minority from The AvantGarde Group
Valentina Magriby Valentina Magri 17 December 2021 in Fintech, Company
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Alessandro Zamboni
The Luxembourg holding OPM SA has acquired a minority of the company RegTech Open Project. The stake was sold by the majority shareholder The AvantGarde Group, an Italian consulting company in the digital transformation of companies wholly owned by the CEO Alessandro Zamboni, through the 100% controlled vehicle 1AF2 Ltd (see the press release here). Linklaters assisted OPM in the transaction, while the seller was followed by Sinopoli & Partners.
RegTech Open Project, based in Milan, is active in regulation technology (hence the name RegTech). The company deals with the application of innovative procedures, developed through a platform inspired by the open banking paradigm. The company is establishing itself as a leader in its sector thanks to a proprietary technology, developed to best meet the needs of customers.
We remind you that TheAvantGarde Group holds 38.9% of Supply @ Me Capital plc, a scaleup fintech listed in London since March 2020, led by Zamboni himself and active in the enhancement of the warehouse of industrial companies (inventory monetization). The shareholders of Supply @ Me include, with just under 10%, Eight Capital Partners plc, a British investor in private equity and private debt, which, according to BeBeez, also subscribed 40 million euros of the bond issued in last September and worth 61 million euros (see another article by BeBeez). The proceeds from the issue were used to consolidate The AvantGarde's shareholding in Supply @ Me, in light of its growth, perhaps also taking advantage of the decline in the City stock.
Supply @ Me Capital had announced in October 2020 that it was working on a partnership with a European bank that could act as an investor in all the securitisations that Supply @ Me will gradually bring to the market (see another article by BeBeez). The operation involves the acquisition of the bank itself by the controlling shareholders of Supply @ Me together with an alternative fund, which at the end of 2020 was known to be the Industry 4.0 fund managed by Quadrivio Group (see another article by BeBeez) .
According to plans, the target bank should commit to disburse up to € 8 billion over 5 years to finance all the international initiatives of Supply @ Me, which is expanding its business from Italy to the United Kingdom and the Middle East, to then also arrive in the USA. To this end, Quadrivio undertook to recapitalize the bank, once it has obtained the authorization to purchase it from the supervisory authorities.
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