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05/2026

NEXTALIA takes majority stake in COSTA EDUTAINMENT

ITALY Hospitality & Leisure / Parks & Ski Resorts EV 100M - 350M EUR

Context

Nextalia SGR assumes control of Costa Edutainment through the acquisition of the group’s top holding company, marking the exit of DeA Capital Alternative Funds (Green Arrow Capital) from the shareholder base, alongside a broader restructuring of ownership. The transaction also includes a partial reinvestment by the founding family through its controlling holding, ensuring continuity and alignment within the new capital structure. The scope covers the group’s full portfolio of leisure and cultural infrastructure assets, operated under long-term concession and management agreements. The strategic focus is on asset optimisation, operational synergies, and selective development of existing sites within a disciplined portfolio framework. The investment takes place in a fragmented European experiential leisure market, increasingly shaped by platform consolidation dynamics and the aggregation of multi-site operators.

COSTA EDUTAINMENT, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level than the average currently observed in the Retail & Consumer sector (10.9x).

-> Deep-dive in Retail & Consumer market trends

Target

Costa Edutainment is an Italian edutainment operator positioned at the intersection of leisure infrastructure, cultural assets, and experiential tourism. The group develops and operates an integrated portfolio of destination assets, including aquariums, themed parks, water parks, and immersive museums, primarily structured through long-term concession agreements. The platform is anchored by the Acquario di Genova and its surrounding “Acquario Village” ecosystem, alongside a broader network of leisure assets across Italy and Malta. Its business model relies on direct site operations, tourism flow monetisation, and ancillary revenue streams such as retail, food services, and event hosting, supporting asset-level optimisation and visitor monetisation strategies. Within a gradually consolidating experiential leisure market, Costa Edutainment operates as a platform consolidator with the ambition to rationalise fragmented assets, enhance operational synergies, and scale management capabilities across multiple sites.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
2024

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REFERENCES

Valuation range: EV 100M - 350M EUR

Revenue range: 50M - 100M EUR

EBITDA range: 10M - 30M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of COSTA EDUTAINMENT by NEXTALIA are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: costa edutainment

Acquirer: nextalia