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Three Hills announces fifth transaction from most recent fund, with a new investment in leading Italian provider of digital marketing and advisory services Digital360

23 May 2023 Investment Activity

Three Hills Capital Partners (“THCP” or the “Firm”) is pleased to announce that Three Hills Capital Solutions IV (“THCS IV” or the “Fund”) has entered into an agreement with Digital360 (“D360” or the “Company”), a leading Italian provider of innovative digital marketing and advisory services in the context of digital transformation processes, with a distinctive proprietary content production platform. The Fund has committed to invest up to c. EUR 64 million, using a mix of preferred capital, loan and equity instruments. Closing is expected by July 2023, with a completion of the delisting process expected by the end of September 2023. THCP will provide capital to support the delisting of the Company from the Euronext Growth segment of Borsa Italiana and finance its ambitious M&A strategy. 

Established in 2012 and headquartered in Milan, D360 was founded by a group of professors from Politecnico of Milan University. The Company operates across two main business units focused on demand generation for technology vendors and advisory services for technology buyers.  

Andrea Rangone, Professor at Politecnico of Milan and Chairman of Digital360, said:

A new chapter in the history of Digital360 opens thanks to the investment agreement signed with Three Hills Capital Partners. We are about to close the wonderful chapter of being listed on Euronext Growth Milan, which took place in June 2017 and in six years recorded a 365% stock growth. Now we look forward to continuing our exciting growth journey with the support of our new partner THCP.

THCP is excited to support D360’s management team through the company’s next phase of life, seeing strong potential for upside through the business’ scalability. With a healthy pipeline of promising growth opportunities, D360 has the opportunity to further cement its market leading position in Italy, as well as replicate its model internationally.  

Mauro Moretti, Partner and Chairman at Three Hills Capital Partners, noted: 

We are thrilled about the partnership with Digital360, marking the fifth investment from THCP’s fourth fund. With an impressive track record to date, having grown the Company at a 44% average annual rate, THCP is confident that Andrea Rangone and his successful team will be able to execute their ambitious expansion plans. Importantly, this partnership strongly aligns to THCP’s sustainability agenda and investment goals, with the Company having achieved the Benefit Corporation status in 2021, promoting digital innovation as a driver of sustainable and inclusive growth.

Michele Prencipe, Partner at Three Hills Capital Partners, added: 

We see the investment in Digital360 as an opportunity to support an innovative business with an experienced management team that has already demonstrated an impressive track record for growth, executing around 30 successful M&A acquisitions completed to date, further underpinned by positive market tailwinds. We will be leveraging THCP’s extensive M&A experience and international network to support the management team in executing its expansion plans.