INFRACAPITAL & INFRAVIA CAPITAL take majority stake in GIP Gruppo Investimenti Portuali

Infracapital and InfraVia Capital Partners agreed to take joint control of Gruppo Investimenti Portuali (GIP), the Genoese container terminal operator, in a transaction that valued the company at an enterprise value of . The deal was formalised through an agreement with GIP's historical shareholders, the vehicles Finsea, Gastaldi, I.L Investimenti and Tcip, which were controlled by maritime entrepreneurs led by Luigi Negri together with the Cerruti and Schenone families. The acquisition was completed in February 2017, with InfraVia investing through its Infrastructure III fund. The transaction was structured alongside PSA (Port of Singapore), which partnered with the two infrastructure funds. One of GIP's co-founders, Giulio Schenone, reinvested in the group, retaining a minority stake and taking the role of chief executive officer. At the time of the transaction, GIP's terminals had handled over 2.6 million TEU in 2016. The company reported revenue of and an EBITDA of , corresponding to an EBITDA margin of . The transaction was valued at an EV/EBITDA multiple of and an EV/revenue multiple of . The acquisition aimed at accelerating the development of terminals able to accommodate increasingly large vessels and at improving connections with the hinterland through intermodal solutions. Stephens Europe Limited and PwC acted as financial advisors to Infracapital and InfraVia, while White & Case provided legal advice to the buyers. InfraVia exited its investment in GIP in May 2024.