We have advised Investcorp, a leading global manager of alternative investments, on the acquisition of a majority stake in Epipoli, a leading and fast-growing international alternative payments enabler, from investment firm Bregal Milestone and Epipoli Founder & CEO, Gaetano Giannetto, who will remain a significant minority shareholder and will continue to lead the company.
Investcorp is a global investment manager specialising in alternative investments across four asset classes: Private Equity, Real Assets, Credit, and Liquid Strategies, with assets under management of approximately €53bn as of 2024.
Founded In 2020, Epipoli has developed the largest CRM and loyalty program in Italy, with over 6 million consumers. It established its gift card business in 2006 and launched Italy’s first prepaid Mastercard in 2012, cementing its leading position in the market. Today, the company works with millions of customers, thousands of distributors, and hundreds of retailers, with unique expertise in the retail market and a turnover of approximately €400m. Since Bregal Milestone’s initial investment in 2019, Epipoli has experienced a transformative growth path, progressively consolidating its leadership in a large and fast-growing reference market, while increasing gross revenues by 4x and completing three add-on acquisitions across Italy and Switzerland.
With this transaction, Investcorp will help Epipoli to further accelerate its growth plans as it continues to build out its payments and services platform, expanding its offering to more customers in Italy and internationally.
