02
Oct
Italian M&A in 2025: Growth and consolidation
Is 2025 going to be the turning point for the Italian M&A market? While in the past months M&A expansion has been fluctuating globally, in Italy the growth has been consistent. The country has not been particularly affected by global trends due to several factors, including its limited exposure to geopolitical tensions and the fact that it suffered fewer issues in financing matters. Italy continues also to be the object of a renewed interest from international investors which, alongside an active and strategic interest by the government, are leading to an increase in the number of transactions and in their aggregate value. The panel will address how the abundance of available liquidity, the potential reduction in interest rates, and consolidation in key sectors will provide a strong momentum for M&A, complemented by innovation, business transformation and additional competitiveness across different sectors.
- How are new deals being structured to ensure good outcomes for GPs, LPs, portfolio companies and lenders? Are ESG considerations increasingly influencing dealmaking as investors prioritise sustainability and long-term value?
- What renewed opportunities and challenges does the Italian mid-size market present? What is its acquisition potential? How are succession issues impacting M&A activity?
- Which alternative asset classes are most effective in delivering returns for investors?
- Cross-border vs domestic M&A: How are Italian funds internationalising? What strategies and models are proving most effective for delivering returns? Incentives and relocations
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SpeakersAlessandra Castelli Global Head Editorial Development ION Analytics
Piero Leporelli Director, Private Equity BC Partners
Giovanni Calia Managing Director Fortlane Partners
Matteo Cirla MD & CEO IGI Sgr
Francesco Pascalizi Partner, Co-Head of Consumer and Head of Italy Permira
Giovanni Tinuper Partner, Deals Platform and Transaction Services Leader PwC Italy
Carlo Caverni Director WTW
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Piero joined BC Partners in 2019. He is a Director in the Private Equity team based in London. Previously, Piero worked at McKinsey & Company in Italy. Prior to this, he helped to launch logistics start-up Entrego in the Philippines, where he was Head of Sales and Business Development. He holds an MBA from Columbia Business School; a MSc in Management with distinction from London School of Economics and aBS in Aerospace Engineering – cum laude from Sapienza University of Rome.
Matteo joined IGI in 2010, after having worked for over 6 years as a Partner of Synergo, a private equity firm which he co-founded in 2004. Prior to joining Synergo, he spent 6 years, covering various investment banking roles. Matteo started his professional career with Arthur Andersen in Milan in 1996. Matteo graduated in Economics and Commerce from the University of Pavia and received his Master in Corporate Finance from the SDA Bocconi School of Management.
Francesco is Co-Head of Consumer and Head of Italy at Permira and focuses on investment opportunities in the consumer sector. He has worked on a number of transactions including KWay, Gruppo Florence, Golden Goose, La Piadineria, Arcaplanet, eDreams OdigeO, Sushiro, Marazzi Group and Valentino. He sits on Gruppo Florence, Golden Goose and Kway Boards. Francesco is an Investment lead for our social impact partnership with Food for Soul and Medecins Sans Frontieres, two charity partners with the Permira Foundation. Prior to joining Permira, Francesco worked in the private equity group at Bain Capital and before that he was part of M&A team at UBS in both Milan and London. He has a degree in Business Administration from Bocconi University, Italy.
Giovanni has more than 25 years M&A experience primarily performed for large international corporates and private equity houses. He is graduated in Business Administration from Università Cattolica del Sacro Cuore in Milan and he is fluent in Italian (mother tongue), English and French. His main areas of expertise include financial and vendor due diligence, pre-deal analyses and post-deal integration, carve-outs, value creation analyses. His main industry focus is on Healthcare & Pharma, Business Services, Industrial Products and Retail and Consumer.