CONFORMGEST acquired by CHEQUERS

Chequers Capital signed a binding agreement to acquire ConformGest, the Italian provider of used-vehicle warranties, from Vam Investments and the Pinzano family, in a secondary buyout in which the founding family reinvested alongside the new majority shareholder and the management team. Diego Pinzano stayed on as executive chairman and Corrado Pinzano as group chief executive. At the time of the deal, ConformGest generated revenue of and an EBITDA of , an EBITDA margin of , employed more than 100 people, worked with around 5,000 professional dealers and had issued more than 130,000 warranties in 2024. Vam Investments had acquired ConformGest from the Pinzano family in 2023, in a deal led by Luca Amedeo Masobello. During its ownership, the group added RPM in 2024 and Fidelity and Autoplus in 2025 in Italy, relaunched its business in Spain and Portugal and entered Poland and Romania. Philippe Guérin, Niccolò Leita and Julien Airoldi led the investment for Chequers, with financing from Crédit Agricole, BNL BNP Paribas and Banca IFIS. Rothschild & Co advised Vam Investments on the sale, with Gatti Pavesi Bianchi Ludovici as corporate counsel, and L&B Partners advised the Pinzano family. Chequers worked with Dawan Corporate Finance as M&A advisor and Advant NCTM as corporate counsel, with due diligence carried out by KPMG, Oliver Wyman, Pérez-Llorca and DZP, among others.