Fondo Italiano d'Investimento and Eulero Capital have agreed to buy a stake in Italian operator HNH Hospitality from the Siparex fund for a undisclosed sum.
HNH Hospitality manages 16 hotels, including 13 in major Italian cities, through franchise deals with hotel brands like Hilton, IHG, Accor and Best Western. It works with institutional players active in the Italian Real Estate sector such as Allianz, Generali, Castello, Reale Immobili, Borletti Group.
The company ended fiscal year 2022 with a turnover of €71.4 million and estimates to exceed €100 million for the current fiscal year, following the recent acquisition of the Almar Timi Ama in Villasimius.
The transaction marks for Fondo Italiano and Eulero Capital the entry into tourism sector, a particularly strategic sector for the country, and aims to further accelerate the growth path already undertaken by the company.
What they said
Luca Boccato, CEO of HNH Hospitality, said: "I am very pleased with the entry into the capital of Fondo Italiano d'Investimento and Eulero Capital. This new partnership will enable us to strengthen our ambitious expansion project, allowing us to continue developing our growth strategy aimed at ensuring an increasingly complete and distinctive proposal for the leisure, conference and wellness tourism sectors."
Gianpaolo Di Dio, chief investment officer of Fondo Italiano d’Investimento said: "The investment in HNH Hospitality marks Fondo Italiano's entry into tourism, one of the priority strategic sectors identified in the 2022-2025 Business Plan, in which Italy can potentially express a leadership of sheer excellence. We are proud to partner with an entrepreneur, Luca Boccato, who has been able to take a visionary approach to his business and to progress, together, toward HNH's new growth ambitions."
Gianfranco Burei, co-CEO of Eulero Capital said: “We have known HNH Hospitality and the Boccato family for a long time. We chose and wanted with great determination to enter the capital of HNH, an operator of excellence in the Italian hospitality business landscape with a clear mission based on quality, innovation and value creation for its stakeholders. It will be our daily commitment to support HNH in its future growth plans, in line with Eulero Capital's innovative model."
Tomaso Barbini, Partner at Siparex/Insec said: “The investment in HNH has been a great success for Siparex and it is a source of pride to have worked alongside the Boccato family during these years, which have not always been easy. We admire the cohesion and work ethic of the family, which has enabled them to establish as the most dynamic and successful group in the Italian hotellerie scene. We wish Luca and his family well as they continue on the path they have taken, confident that the new partners will be able to support them in the next phase of their development."