Bain Capital takes majority stake in Engineering Ingegneria Informatica

Bain Capital has announced the signing of a definitive agreement to acquire a majority stake in Engineering from Apax Partners and NB Renaissance, in a secondary leveraged buyout (LBO) transaction. The deal marks the complete exit of Apax Partners, a long-standing shareholder, while NB Renaissance has chosen to reinvest in the company through new investment vehicles, demonstrating its commitment to supporting Engineering's next phase of growth. Founder Michele Cinaglia, who held approximately 12% of the company's capital, has sold his stake but will remain involved in the business to ensure strategic and managerial continuity. CEO Paolo Pandozy and the management team have also reinvested alongside the new shareholder. For Bain Capital, this acquisition represents a significant investment in the European digital services sector. The firm was attracted to Engineering's market-leading position in Italy, its portfolio of proprietary software, its exposure to high-growth markets related to digital transformation, and the numerous consolidation opportunities still present in the industry. The European IT services market remains highly fragmented, offering substantial potential for external growth. The post-acquisition strategy aims to continue the group's organic development while accelerating its international expansion through targeted acquisitions. Bain Capital and NB Renaissance have expressed their ambition to further strengthen Engineering's presence in Europe and in high-value-added activities such as cloud computing, data analytics, enterprise software, and digital services for public administrations and large corporations. The transaction was financed by a consortium of Italian and international banks, including Banca IMI, UniCredit, BNP Paribas, Credit Suisse, and Deutsche Bank. This deal represents one of the largest LBOs completed in the Italian technology sector during this period, highlighting the growing attractiveness of European digital platforms to major international private equity firms.