LLOYD’S LIST
Italian class society Rina could list in three years
• Thursday 17 April 2014, 15:26
• by Craig Eason
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Rina has 163 offices in 57 countries and more than 2,500 employees.
New investors will take up to 29% stake as Italian class society seeks acquisitions
UGO Salerno, chairman and chief executive of Italian classification society Rina, has told
Lloyd’s List the organisation could be stock market listed in three years, and is on an
acquisition campaign before that.
The Genoa -based class society announced today that two financial investors, Intesa
Sanpaolo and VEI Capital, have jointly injected €25m ($34.6m) into the business.
The money, which will increase up to €300m over three years, will be used by Rina for
acquisitions as it looks to expand its consultancy and assurance services in the marine
and energy sectors.
Assuming the whole €100m is invested into Rina the two financial bodies will take a 28% 29% stake, said Mr Salerno.
Rina has yet to release its figures for 2013, but Mr Salerno said the year marked a
significant improvement on 2012, one of the group’s worst years, but as the global
economy is set to now grow he believes Rina should be making the most of the
opportunities available.
The Rina group now comprises Rina Services, which includes it classification work, and
D’Appolina, an energy and environmental service provider.
The energy sector now represents up to 40% of Rina’s revenues, marine contributes 30%
and other sectors account for the rest.
The Italian class society would not be the first classification society to make a listing.
France’s Bureau Veritas listed on the Paris exchange in 2007.
Rina and BV are among the top class societies that form the International Association of
Classification Societies.
Through this they advise the International Maritime Organization and other regulatory
bodies on a number of technical issues relating to maritime safety. Rina currently has the
IACS chair.
Two other IACS members, Det Norske Veritas and Germanischer Lloyd, finalised a merger
last year, forming the DNV GL Group.
Mr Salerno dismissed the idea of Rina merging with another class society and said the
need to issue dividends would not be an issue.
The organisation would be issuing new shares, not selling existing ones to raise cash, he
said.
The role of the classification societies has been rapidly evolving in recent years as the
battle for registered tonnage and revenue drives them to branch out into new industries
and offer a growing range of consultancy services, particularly environmental.
Mr Salerno said the ability of the top classification societies to set the competitive agenda
would be crucial in the coming years.
Software, environmental and fleet performance consultancy will be key areas where the
leading classification societies will be able to make significant improvements to their
bottom line. EUROPE: Investors take a stake in RINA SpA
Page 3 of 3
Intesa Sanpaolo and VEI Capital have agreed to acquire a stake in
RINA SpA, the parent company of the Italian engineering, testing,
inspection and certification provider, the RINA Group.
An initial €25 million euros investment by Intesa Sanpaolo and VEI
Capital, which will be underwritten by and shared equally between
the two partners, may be increased to a possible €100 million euros
on the strength of subsequent capital increases and backing for
acquisitions.
The investment is intended to help strengthen RINA’s position as a
major player in certification and consulting engineering, with a view
to a possible stock exchange listing in the medium-term.
RINA has a network of 163 offices in 57 countries and over 2,500
employees.
The CLH Group announces a €17 million investment for the 1st phase of a new #s_
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17/04/2014
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Intesa Sanpaolo and VEI Capital Invest in RINA
Apr 17, 2014 Editor Classification Societies 0
Intesa Sanpaolo – through the Merchant Banking Management of its Corporate and Investment Banking
Division – and VEI Capital – investment company of Palladio Finanziaria in the Private Equity Mid-Cap
segment – have agreed to buy a stake in RINA S.p.A., parent company of the RINA Group.
The initial Euro 25 million investment by Intesa Sanpaolo and VEI Capital, which will be underwritten by and
shared equally between the two partners, may be increased to a possible 100 million euros on the strength
of subsequent capital increases and backing for acquisitions.
http://maritimeintel.com/intesa-sanpaolo-and-vei-capital-invest-in-rina/
17/04/2014
All About Shipping » Blog Archive » INTESA SANPAOLO and VEI Capital take sta... Page 4 of 12
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INTESA SANPAOLO and VEI Capital take stake in RINA
Spa
Banking, Classification Societies, Finance — By admin on April 17, 2014 at 7:00 PM
Cranes
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RINA CEO Ugo Salerno
The initial investment of the new partners will total 25 million euros
Possibility of increasing overall investment to 100 million euros
Ugo Salerno: “The aim is to develop a leading national organisation to compete with key worldwide players.”
Milan, 16 April 2014 – Intesa Sanpaolo – through the Merchant Banking Management of its Corporate and Investment
Banking Division – and VEI Capital – investment company of Palladio Finanziaria in the Private Equity Mid-Cap
segment – have agreed to buy a stake in RINA S.p.A., parent company of the RINA Group, Italy’s leading E-TIC
(Engineering, Testing, Inspection, Certification) service provider.
http://www.allaboutshipping.co.uk/2014/04/17/intesa-sanpaolo-and-vei-capital-take-st... 17/04/2014
All About Shipping » Blog Archive » INTESA SANPAOLO and VEI Capital take sta... Page 5 of 12
The initial 25 million euros investment by Intesa Sanpaolo and VEI Capital, which will be underwritten by and shared equally
between the two partners, maybe increased up to a possible 100 million euros on the strength of subsequent capital increases
and backing for acquisitions.
The financial resources and expertise of the new partners is designed to support and accelerate the growth and
internationalization process which RINA has initiated in recent years. VEI Capital and Intesa Sanpaolo are undertaking this
investment project to help strengthen RINA’s position as a key world-class player in certification and consulting engineering,
with a view to a possible stock exchange listing in the medium-term.
Today, RINA is a multinational group specialized in classification, certification, testing, inspection, training and consulting
engineering services in shipping, energy, transport and infrastructure, environment and innovation.
RINA operates through companies dedicated to its specialist sectors. It has a network of 163 offices in 57 countries and over
2,500 employees, whose commitment has contributed to achieving a turnover which, with the latest acquisitions, exceeds 320
million euros.
“As a financial partner, Intesa Sanpaolo intends to back the company to accelerate the completion of its evolution process that
is already under way”, – stated Marco Cerrina Feroni, head of Intesa Sanpaolo Merchant Banking Management. – “Indeed,
the investment represents an opportunity to take a stake in an historical company of Italian heritage, very well-managed and
with excellent growth opportunities, completing a path of major strategic and managerial change”.
“The operation” – said Sergio Ravagli, Managing Partner of Palladio Finanziaria – “comes within the context of ‘expansion
capital’ investment in companies with a high development potential, as recently occurred with inflow into the capital of the Fila
group. The backing of financial partners in respect of a sound and well-prepared management will enable the RINA Group to
take up new growth opportunities in Italy and abroad”.
“The decision of two prestigious financial groups such as Intesa Sanpaolo and VEI Capital to invest in our company gives us
immense satisfaction,” – confirmed Ugo SalernoRINA S.p.A. President and CEO – “Their stake in our company offers us
additional and decisive development opportunities in terms of both growth and also acquisitions in order to develop a leading
national organisation to compete with key international players.”
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Thursday, April 17, 2014, 11:13 AM
Intesa Sanpaolo, through the
Merchant Banking Management of its
Corporate and Investment Banking
Division, and VEI Capital, investment
company of Palladio Finanziaria in
the Private Equity Mid-Cap segment,
have agreed to buy a stake in RINA
S.p.A., parent company of the RINA
Group, Italy’s E-TIC (Engineering,
Photo courtesy RINA
Testing, Inspection, Certification)
service provider.
The initial 25 million euros investment by Intesa Sanpaolo and VEI Capital, which will be
underwritten by and shared equally between the two partners, may be increased to a possible
100 million euros on the strength of subsequent capital increases and backing for acquisitions.
The financial resources and expertise of the new partners is designed to support and accelerate
the growth and internationalization process which RINA has initiated in recent years. VEI Capital
and Intesa Sanpaolo are undertaking this investment project to help strengthen RINA’s position
as a key world-class player in certification and consulting engineering, with a view to a possible
stock exchange listing in the medium-term.
advertise here
Today, RINA is a multinational group specialized in classification, certification, testing, inspection,
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training and consulting engineering services in shipping, energy, transport and infrastructure,
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environment and innovation.
RINA operates through companies dedicated to its specialist sectors. It has a network of 163
offices in 57 countries and over 2,500 employees, whose commitment has contributed to
achieving a turnover which, with the latest acquisitions, exceeds 320 million euros.
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“As a financial partner, Intesa Sanpaolo intends to back the company to accelerate the
completion of its evolution process that is already under way”, stated Marco Cerrina Feroni, head
of Intesa Sanpaolo Merchant Banking Management. - “Indeed, the investment represents an
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opportunity to take a stake in an historical company of Italian heritage, very well-managed and
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with excellent growth opportunities, completing a path of major strategic and managerial change”.
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“The operation,” said Sergio Ravagli, Managing Partner of Palladio Finanziaria, “comes within the
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context of ‘expansion capital’ investment in companies with a high development potential, as
Unlicensed Junior Engineer
recently occurred with inflow into the capital of the Fila group. The backing of financial partners in
respect of a sound and well-prepared management will enable the RINA Group to take up new
growth opportunities in Italy and abroad”.
"The decision of two prestigious financial groups such as Intesa Sanpaolo and VEI Capital to
invest in our company gives us immense satisfaction," confirmed Ugo Salerno RINA S.p.A.
President and CEO - "Their stake in our company offers us additional and decisive development
opportunities in terms of both growth and also acquisitions in order to develop a leading national
organisation to compete with key international players.”
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RINA Group gets EUR25m boost from local investors
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RINA Group gets EUR25m boost from local
investors
http://www.seatrade-global.com/news/europe/rina-group-gets-eur25m-boost-from-loc... 17/04/2014
RINA Group gets EUR25m boost from local investors
Page 2 of 4
By Charlie Bartlett
from London
Italian investment firms Intesa Sanpaolo and VEI
Capital have purchased a joint stake in RINA Group
parent company RINA S.p.A for EUR25m ($34.6m).
The investment is part of a drive to make the RINA Group more internationally competitive with “key worldwide players” according
to RINA S.p.A. president and ceo Ugo Salerno.
Intesa Sanpaolo and VEI Capital have indicated the investment could be increased to EUR100m later on, in order to provide extra
capital for what Intesa Sanpaolo’s head of Merchant Banking Marco Cerrina Feroni called RINA’s “evolution process”.
“Indeed, the investment represents an opportunity to take a stake in an historical company of Italian heritage, very well-managed and
with excellent growth opportunities,” said Feroni.
Said Salerno: "The decision of two prestigious financial groups such as Intesa Sanpaolo and VEI Capital to invest in our company
gives us immense satisfaction. Their stake in our company offers us additional and decisive development opportunities in terms of
both growth and also acquisitions in order to develop a leading national organisation to compete with key international players.”
Published in Europe, Containers, Dry Cargo, Finance & Insurance, Regulation, Tankers, Offshore
© Copyright 2014 Seatrade Communications Limited. Replication or redistribution in whole or in part is
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Thursday, 17 April 2014 13:07
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World Maritime News - Intesa Sanpaolo and VEI Capital Invest in RINA S.p.A.
Page 1 of 2
Intesa Sanpaolo and VEI Capital Invest in
RINA S.p.A.
Posted on Apr 17th, 2014 with tags buy a stake, consulting, Intesa Sanpaolo, Italy, News
by topic, RINA, VEI Capital.
Intesa Sanpaolo – through the Merchant Banking
Management of its Corporate and Investment Banking
Division – and VEI Capital – investment company of
Palladio Finanziaria in the Private Equity Mid-Cap
segment – have agreed to buy a stake in RINA S.p.A.,
parent company of the RINA Group.
The initial 25 million euros investment by Intesa Sanpaolo and VEI Capital, which will be
underwritten by and shared equally between the two partners, may be increased to a
possible 100 million euros on the strength of subsequent capital increases and backing
for acquisitions.
The financial resources and expertise of the new partners is designed to support and
accelerate the growth and internationalization process which RINA has initiated in recent
years.
VEI Capital and Intesa Sanpaolo are undertaking this investment project to help
strengthen RINA’s position as a key world-class player in certification and consulting
engineering, with a view to a possible stock exchange listing in the medium-term.
http://worldmaritimenews.com/archives/121267/intesa-sanpaolo-and-vei-capital-inves... 17/04/2014
World Maritime News - Intesa Sanpaolo and VEI Capital Invest in RINA S.p.A.
Page 2 of 2
Today, RINA is a multinational group specialized in classification, certification, testing,
inspection, training and consulting engineering services in shipping, energy, transport
and infrastructure, environment and innovation.
RINA operates through companies dedicated to its specialist sectors. It has a network of
163 offices in 57 countries and over 2,500 employees, whose commitment has
contributed to achieving a turnover which, with the latest acquisitions, exceeds 320
million euros.
“As a financial partner, Intesa Sanpaolo intends to back the company to accelerate the
completion of its evolution process that is already under way”, said Marco Cerrina
Feroni, head of Intesa Sanpaolo Merchant Banking Management. “Indeed, the
investment represents an opportunity to take a stake in an historical company of Italian
heritage, very well-managed and with excellent growth opportunities, completing a path
of major strategic and managerial change”.
“The operation”, said Sergio Ravagli, Managing Partner of Palladio Finanziaria, “comes
within the context of ‘expansion capital’ investment in companies with a high
development potential, as recently occurred with inflow into the capital of the Fila group.
The backing of financial partners in respect of a sound and well-prepared management
will enable the RINA Group to take up new growth opportunities in Italy and abroad”.
“The decision of two prestigious financial groups such as Intesa Sanpaolo and VEI
Capital to invest in our company gives us immense satisfaction,” confirmed Ugo Salerno
RINA S.p.A. President and CEO. “Their stake in our company offers us additional and
decisive development opportunities in terms of both growth and also acquisitions in order
to develop a leading national organisation to compete with key international players.”
April 17, 2014
Share this article from World Maritime News
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•€€€€€€€ The initial investment of the new partners will total 25 million euros
•€€€€€€€ Possibility of increasing overall investment to 100 million euros
•€€€€€€€ Ugo Salerno: “The aim is to develop a leading national organisation to compete
with key worldwide players.”
€
Milan, 16 April 2014 - Intesa Sanpaolo – through the Merchant Banking Management of its
Corporate and Investment Banking Division – and VEI Capital€ - investment company of
Palladio Finanziaria in the Private Equity Mid-Cap segment – have agreed to buy a stake in
RINA S.p.A., parent company of the RINA Group, Italy’s leading E-TIC (Engineering, Testing,
Inspection, Certification) service provider.
€
The initial 25 million euros investment by Intesa Sanpaolo and VEI Capital, which will be
underwritten by and shared equally between the two partners, may be increased to a
possible 100 million euros on the strength of subsequent capital increases and backing for
acquisitions.
€
The financial resources and expertise of the new partners is designed to support and
accelerate the growth and internationalization process which RINA has initiated in recent
years. VEI Capital and Intesa Sanpaolo are undertaking this investment project to help
strengthen RINA’s position as a key world-class player in certification and consulting
engineering, with a view to a possible stock exchange listing in the medium-term.
€
Today, RINA is a multinational group specialized in classification, certification, testing,
inspection, training and consulting engineering services in shipping, energy, transport and
infrastructure, environment and innovation.
€
RINA operates through companies dedicated to its specialist sectors. It has a network of 163
offices in 57 countries and over 2,500 employees, whose commitment has contributed to
achieving a turnover which, with the latest acquisitions, exceeds 320 million euros.
€
“As a financial partner, Intesa Sanpaolo intends to back the company to accelerate the
completion of its evolution process that is already under way”, - stated Marco Cerrina
Feroni, head of Intesa Sanpaolo Merchant Banking Management. - “Indeed, the investment
represents an opportunity to take a stake in an historical company of Italian heritage, very
well-managed and with excellent growth opportunities, completing a path of major
strategic and managerial change”.
€
“The operation” – said Sergio Ravagli, Managing Partner of Palladio Finanziaria – “comes
within the context of ‘expansion capital’ investment in companies with a high development
potential, as recently occurred with inflow into the capital of the Fila group. The backing of
financial partners in respect of a sound and well-prepared management will enable the RINA
Group to take up new growth opportunities in Italy and abroad”.
€
"The decision of two prestigious financial groups such as Intesa Sanpaolo and VEI Capital to
invest in our company gives us immense satisfaction," - confirmed Ugo Salerno RINA S.p.A.
President and CEO - "Their stake in our company offers us additional and decisive
development opportunities in terms of both growth and also acquisitions in order to develop
a leading national organisation to compete with key international players.”
Contacts:
Online Job
Vacancies
Intesa Sanpaolo
Media Corporate & Investment Banking and International Media
Tel. +39 02 8796 3531- 2489
stampa@intesasanpaolo.com
Torque &
Accelerometers
RINA S.p.a.
Media Relations Corporate
Tel. +39 010 5385 - 643 – 505 – 555
staff.communications@rina.org
Executive Jobs
Search
VEI Capital - Gruppo Palladio
Studio Noris Morano
Tel: +39 02 76004736.45
Mob: +39 335 6964585
Fax: +39 02 76004793
norismorano@studionorismorano.com
RINA Group
Contact:
Claudia Filippone
Head of Media Relations RINA Group
Ph. +39 010 5385643
Email claudia.filippone@rina.org
€
Susanna Gorni
Media Relations RINA Group
Ph. +39 010 5385555
Email susanna.gorni@rina.org
The RINA Group is an international company that helps
enterprises and communities to achieve greater
competitiveness and effective risk management through the
conception, creation, management and assessment of
projects.
The Group has developed the best competencies and
combined them with its own values of integrity and
responsibility, gained in over 150 years of experience, into a
way of working that meets the highest expectations.
RINA Group delivers advanced technical competency through
a network of companies dedicated to different sectors
covering Environment and Quality, Energy, Maritime, Ethics
and Safety, Food Production and Healthcare, Infrastructures
and Constructions, Logistics and Transport.
With a turnover of around 300 million Euros in 2012, over
2,100 employees, and 130 offices in 42 countries worldwide,
RINA meets the needs of its clients and is recognized as an
authoritative member of key international organizations and
an important contributor to the development of new
legislative standards.
www.rina.org€
Merlin Corporate Communications
2014-04-17
http://www.setcorp.info/main/pressrelease.phtml?news_id=52195&language=english
17/04/2014
Intesa Sanpaolo S.p.A.: Intesa Sanpaolo and VEI Capital take a stake in RINA S.p.A.
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growth and internationalization process which RINA has initiated in recent years. VEI Capital and
Intesa Sanpaolo are undertaking this investment project to help strengthen RINA's position as a key
world-class player in certification and consulting engineering, with a view to a possible stock
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Intesa Sanpaolo S.p.A.: Intesa Sanpaolo and VEI Capital take a stake in RINA S.p.A.
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RINA operates through companies dedicated to its specialist sectors. It has a network of 163 offices in
57 countries and over 2,500 employees, whose commitment has contributed to achieving a turnover
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"As a financial partner, Intesa Sanpaolo intends to back the company to accelerate the completion of
its evolution process that is already under way", - stated Marco Cerrina Feroni, head of Intesa
Sanpaolo Merchant Banking Management. - "Indeed, the investment represents an opportunity to
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take a stake in an historical company of Italian heritage, very well-managed and with excellent
Investing in U.S. Distressed Securities
growth opportunities, completing a path of major strategic and managerial change".
George J. Schultze
"The operation" - said Sergio Ravagli, Managing Partner of Palladio Finanziaria - "comes within the
context of 'expansion capital' investment in companies with a high development potential, as
recently occurred with inflow into the capital of the Fila group. The backing of financial partners in
Published March 26, 3014 in Investing
Strategies
Companies covered: OC VZ AAPL KKR
respect of a sound and well-prepared management will enable the RINA Group to take up new growth
Buy ($75)
opportunities in Italy and abroad".
"The decision of two prestigious financial groups such as Intesa Sanpaolo and VEI Capital to invest in
our company gives us immense satisfaction," - confirmed Ugo Salerno RINA S.p.A. President and CEO
- "Their stake in our company offers us additional and decisive development opportunities in terms
Finding Attractive Yields in Financials,
IT and Health Care
of both growth and also acquisitions in order to develop a leading national organisation to compete
Kenneth M. Conrad
with key international players."
Published April 11, 2014 in Investing
Strategies
distributed by
This noodl was issued by Intesa Sanpaolo S.p.A. and was distributed, unedited and unaltered,
by noodls on 2014-04-17 16:40:02 CET. The issuer is solely responsible for the accuracy of the
information contained therein.
Companies
covered: AAPL CMCSA WFC PFE MRK TWC LYB C
Buy ($75)
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http://www.twst.com/update/52361-intesa-sanpaolo-spa-intesa-sanpaolo-and-vei-capit... 17/04/2014