Transaction

Clearwater advises DeA Capital on raising finance to support the acquisition of Twinkly

Transaction

DeA Capital raised finance from Intesa San Paolo, MPS, Sparkasse to support the acquisition of Twinkly

Debt Advisory

Undisclosed

Role

Adviser to DeA Capital in the acquisition of Twinkly

Sector

Consumer
Tech & Tech Services

Region

Italy

Clearwater has advised Sviluppo Sostenibile, a private equity fund managed by DeA Capital who focus on SMEs with strong ESG credentials, on the financing of the leverage buy-out aimed at acquiring a majority stake in the share capital of Ledworks S.r.l., a professional lighting company known for its brand Twinkly.

Founded in 2016 by Marco Franciosa, Andrea Tellatin and Stefano Grasselli, Ledworks has innovated the lighting decoration market, both in the retail and professional fields. This is through the creation of products based on LED lights and characterized by the possibility of mapping and control, via the Twinkly App (proprietary and patent-protected technology). With offices in Mestrino (Padua) and Milan, the company has grown rapidly in recent years, with turnover of more than €35 million in 2021, estimated to reach over €50 million in 2022. This is thanks to a young team with transversal skills, the design and functionality of its products, which were initially related to festivities and aimed at a retail customer base, to progressively expanding its offering to professional customers and fast-growing market segments, such as home design and gaming. Twinkly now exports more than 90% of its sales, with the US (where it has a commercial subsidiary) and Canada being the top destinations.

The investment of DeA Capital, alongside the founders and managers of Twinkly, is aimed at assisting Ledworks in its growth and ESG journey, continuing the process of de-seasonalisation, geographic diversification, and supporting the development of the B2B channel.

The acquisition was financed by three banks, consisting of Intesa Sanpaolo, which also acted as agent bank, MPS Capital Services and Cassa di Risparmio di Bolzano (Sparkasse).

LED light panel

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