Sinloc and Fondaco SGR sold Società di Biotecnologie S.p.A. to Holding Infrastrutture S.r.l. and infrastructure holding company that is part of the Ersel Group. Società di Biotechnologie is an SPV constituted in 2003 by Sinloc, Finpiemonte Partecipazion S.p.A., DE-GA S.p.A. and Iren S.p.A. following a tender offer for the project financing for the construction of the New School of Biotechnology in Turin on behalf of the University of Turin. The total investment in the project was approximately € 20 million with construction finishing in September 2006. The building is now home to more than 1000 students and 200 instructors who enjoy the use of the classrooms, laboratories, and services. Sinloc not only invested in Società di Biotechnologie but also supported its growth through a variety of advisory activities.
Sinloc is now a partner of the Galaxity initiative which aims to develop innovative and sustainable energy districts in urban areas through organic business models contributing to the pace at which it can be adopted throughout the city. The project aims to improve the energy levels of two specific cities: Padua and Lund, with the aim to improve the cities’ annual energy costs. In this respect Sinloc has identified a business model able to improve the efficiency of the districts identified, one that may also be attractive to investors. Sinloc has studied how the business models would be applied in 7 other cities around Europe. Part of Horizion 2020 and EURAC, the project counts as its partners the City of Padua, the University of Padua, the Chamber of Commerce of Padua, Acegas-APS and the Association of APRE Research. Currently the initiative is under evaluation by the European Commission to commence operations by the end of 2018.
Invimit SGR expressed an irrevocable manifestation of interest in supporting financially the construction of new educational facilities in the Province of Lucca on behalf of the local government. € 50 million were invested in the project aiming to improve the energy efficiency and earthquake safety of the educational facilities in the Province. The objective being to decrease the costs of maintenance costs and improve the quality of the facilities. Sinloc identified 18 potential investments in 13 municipalities under the mandate of Fondazione Lucca and supports the local authorities in structuring the investment proposals and subsequent investment by Invimit into the Local Fund that will administer the project.
Sinloc is promoting the EE4WATER initiative for energy efficiency for public water infrastructure in Central Europe that has the objective of renewing the public water infrastructure and reducing the associated energy costs, which includes identifying the appropriate investment vehicles to promote investment in the sector. With the help of the Hera Group and ERVET S.p.A., the project consists of identifying and implementing innovative strategies to improve the energy efficiency of the water infrastructure. The project was part of the third tender offer for the European Territorial Cooperation Program that co-finances projects in the themes of innovation, energy, natural resources, culture, and transportation. The program encompasses nine European countries including Italy. European partners of the initiative are utility and local development entities in Slovenia, Croatia, and Austria. The project is currently under evaluation and is expected to be active at the beginning of 2019.
IGY Marinas grows in the Mediterranean sea. Supported by Sinloc in operation strategic planning, the international operator has announced having added Porto Cervo to its portfolio of marinas. With this investment IGY acquires its second European marina (Sète, France) and its 19th worldwide. IGY is now managing Porto Cervo including marketing and client support.
Since the launch on 12 December of the first Elite Basket Bond, a simultaneous issue of 10-year bonds involving 10 companies on the Borsa Italiana ELITE platform which supports high growth potential companies, facilitating their access to the capital market, Sinloc has been among its key promoters. Elite and Banca Finint developed a “basket” solution aimed at supporting the growth of companies involved in the programme. Banca Finint, in turn, entrusted Sinloc with the role of monitoring agent. The monitoring agent is responsible for verifying that the issuers maintain an adequate level of solidity and profitability to protect investors throughout the entire duration of the transaction. This control takes the form of a six-monthly review of compliance with certain financial ratios. The Elite Basket Bonds were fully subscribed by a Special Purpose Vehicle (SPV) which issued a single type of security. In essence, it carried out a € 122 million securitisation. The transaction involves 10 ELITE companies: Damiano, Irritec, L. Molteni & C. dei F.lli Alitti, M.E.P. Macchine Elettroniche Piegatrici, Objectway Group, Officine Metallurgiche G. Cornaglia, Peuterey, Radio Dimensione Suono, Svas Biosana and Tecnocap. The securitisation’s main investors are the European Investment Bank (EIB) and Cassa Depositi e Prestiti (CDP) which have respectively subscribed 50% and 33% of the total bond issued by the SPV.