Italy’s best-known investment bank is pushing out of its comfort zone. Mediobanca , the 8.5-billion-euro financial group run by veteran CEO Alberto Nagel, said on Thursday it had agreed to buy London-based Arma Partners, an advisory boutique that specializes in technology deals. The acquisition’s financial details have not been disclosed. But it easily ranks as Mediobanca’s biggest buy in the segment. The bank’s latest advisory deal of notice, the acquisition of the French boutique formerly known as Messier Maris & Associes in 2019, was meant to boost Mediobanca’s aggregate fees by 8%, the buyer said at the time. With revenue in excess of $100 million, or about 90 million euros, Arma should add more than 10% to Mediobanca’s annual net fees and commission of 850 million euros. The French boutique’s contribution, although a record, stood at 63 million euros in the financial year that ended in June 2022.
it had agreed to buy London-based Arma Partners, an advisory boutique that specializes in technology deals. The acquisition’s financial details have not been disclosed. But it easily ranks as Mediobanca’s biggest buy in the segment. The bank’s latest advisory deal of notice, the acquisition of the French boutique formerly known asin 2019, was meant to boost Mediobanca’s aggregate fees by 8%, the buyer said at the time.
Buying Arma allows Mediobanca to gain expertise in growing areas like cloud services, software and cybersecurity, which are outside the Italian bank’s core strengths. Yet bulking up in advisory can be tricky as dealmakers often walk. Star banker Erik MarisMediobanca a year after Nagel clinched the purchase of a 66% stake in the boutique.
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