We have advised Epipoli, an Italian leader in alternative payments that is currently undergoing rapid international expansion and a portfolio company of Investcorp, on its acquisition of a majority stake in ICT Labs, a specialist in B2C and B2B promotional campaigns and incentive programmes.
Epipoli is one of the leading enablers of alternative payments internationally, with distinctive expertise in the retail sector. Founded by Gaetano Giannetto in 2000, the company introduced gift cards to Italy in 2006 and launched Mastercard prepaid cards in large-scale retail outlets in 2012. Headquartered in Milan, Epipoli has expanded its international presence by distributing its products across more than 70,000 retail outlets throughout Europe and serving 9,000 corporate clients worldwide. Since 2025, Epipoli has been partly owned by Investcorp, one of the world’s leading alternative investment management firms.
Founded in 2006, ICT Labs employs over 100 professionals with offices in Milan and Terni. With a turnover of €37.5m in 2025, ICT Labs, through its ICT Promotions brand, is a leading player in multi-channel, mobile, and web promotional marketing, and works with major agencies and leading brands in the consumer goods, pharmaceutical, automotive, and finance sectors.
The acquisition marks a strategic milestone in Epipoli’s development, having closed 2025 with €524m in transaction volume, an 11% increase compared with 2024. The integration of ICT Labs will enhance the group’s offering through new engagement, rewards and incentive solutions, supported by advanced real-time data analysis, which is essential for maximising redemption rates and return on investment.
