First Investment By Argos Climate Action Fund

The climate fund of private equity house Argos Wityu invests in Italian logistics company.

Private equity firm Argos Wityu, which has offices in Paris, Brussels, Amsterdam, Milan, Frankfurt, Luxembourg and Geneve, announces the investment in Bracchi, a market leading transport and logistics company in Italy.

The acquisition of a majority stake in Bracchi is the first investment made by Argos’ special climate fund. The company was owned by private equity funds IGI and Siparex. Anima Alternative SGR, Clessidra Capital Credit SGR and Bracchi’s management have co-invested alongside Argos Wityu in the transaction.

Argos Climate Action, a buyout fund with a focus on decarbonising European SMEs, aims to reduce CO2 intensity by at least 7.5 percent per year and a aligns team incentives by tying 1/4 of carried interest to the achievement of this objective.

The objective of this deal is to position Bracchi at the forefront of the sector in terms of green offering by executing a clear decarbonisation strategy.

Founded as a local Italian transport company, Bracchi is now one of the most important logistics and transport operators in Europe, managing tailor-made services in highly specialized niche sectors such as elevators, agricultural equipment and luxury brands. The company is a point of reference for all customers who want to make use of a single interlocutor for any need for logistical and distribution support in Italy, Europe and around the world. Bracchi has 650 employees and generated a turnover of 205 million euro in 2022, operating from seven regional offices and eleven hubs in Europe.

The investment thesis is to expand the geographical coverage, acquire new technical know-how in other special logistic niches and grow the customer base. This strategy of value creation is also supported by an ambitious decarbonisation plan targeting the reduction of half of CO2 emission intensity over five years on scopes 1,2 and 3.

In September, Argos Wityu announced that Argos Climate Action held its first close at 120 million euro, reaching 40 percent of its initial target of raising 300 million euro, extending the Argos Wityu platform for the first time beyond the historical Mid-Market strategy. The fund is backed by public and private institutions and family offices, all with deep convictions about the need to actively contribute to mitigate climate change without compromising on financial returns in the European Mid-Market buyout landscape.

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