Hugo Nocerino

Willkie is representing Syntagma Capital in exclusive negotiations with Lennox International to acquire its European commercial HVAC and refrigeration businesses. On September 25, Syntagma announced that it entered into exclusive negotiations with Lennox, a leader in energy-efficient climate-control solutions, to carve out the two European business divisions. The HVAC division designs and manufactures commercial heating, air conditioning and air handling equipment. The commercial refrigeration division designs and manufactures commercial evaporators, condensing units, condensers and dry coolers. The Lennox businesses are headquartered in Lyon, France, and serve customers in over 40 countries. Syntagma, a privately held investment company based in Brussels, plans to continue to grow the businesses organically and through targeted M&A investments. Willkie previously advised Syntagma in numerous transactions, including its recent acquisition of Erasteel, the high-speed steels and recycling division of Eramet S.A. The Willkie team is led by partner Hugo Nocerino and includes partner Faustine Viala and associates Axel Rogeon, Eden Attias, Sophie Mitouard and Hana Rousse.

Sep 25

1 min

Willkie advised Blackstone Growth as co-lead investor in a €175 million Series F funding round for Pennylane, a France-based provider of an integrated financial management and accounting platform. Pennylane recently announced that it raised €175 million in a financing round led by TCV and Blackstone Growth that values the company at €3.5 billion. In connection with its investment, Blackstone Growth also acquired shares from existing shareholders of Pennylane. Pennylane’s platform provides a financial operating system that enables business owners and their accountants to work together in a shared workspace. Blackstone Growth is a seasoned growth equity investor focused on investments in companies with proven business models across five sectors: financial services, consumer, enterprise software, healthcare and consumer technology. The Willkie team was led by partner Dr. Kamyar Abrar and included partners Eduardo Fernandez, Hugo Nocerino and Dr. Michael Ilter, counsel Sebastian Brenner, and associate Sylvain Bureau.

Jan 23

1 min

Willkie advised OpenGate Capital on its binding agreement to sell Fiven, a leading producer of silicon carbide, to Kymera International, a global specialty materials and surface technologies company. On June 4, OpenGate announced that it entered a binding agreement to sell Fiven, which it acquired in 2019 through a corporate carve-out from Saint-Gobain, to Kymera, a portfolio company of Palladium Equity Partners, LLC. The deal is expected to close in Q3 2024, subject to customary regulatory approvals. Fiven, headquartered in Oslo with production facilities in Norway, Belgium and Brazil, produces silicon carbide materials used in metallurgy, refractory, abrasives, filtration and technical ceramics, among other applications. OpenGate Capital is a global private equity firm headquartered in Los Angeles with a European base in Paris. The firm has executed more than 40 platform acquisitions across North America and Europe. The Willkie team was led by partners Lionel Spizzichino and Hugo Nocerino and included partner Faustine Viala and associates Camille Barrabino, Alexandre Kong and Sophie Mitouard.

Jun 5

1 min

Willkie is representing IK Partners in connection with the sale of its portfolio company Ascentiel Groupe, a leading digital insurance brokerage platform, to Cobepa. Cobepa recently announced that it entered into exclusive discussions with IK Partners, ISAI Gestion and Bertrand Liber to acquire a majority stake in Ascentiel Groupe. The transaction is expected to close before the end of 2024. Founded in 1970, Ascentiel has established itself as a leading digital brokerage platform specializing in the distribution and management of non-life insurance contracts for both individuals and professionals. IK Partners is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. The Willkie team is led by partners Eduardo Fernandez and Hugo Nocerino and includes partners Paul Lombard and Faustine Viala and associates Camille Barrabino, Charles Bodreau, Faustine Mazza, Ralph Unger and Lucille Villié.

Nov 18

1 min

Willkie represented an affiliate of Syntagma Capital on its acquisition of the Wet-End leather chemicals business of Stahl. On November 18, Syntagma Capital announced that one of its affiliates reached an agreement to acquire Stahl’s Wet-End leather chemicals business, a global leader in leather chemical formulations serving the footwear, automotive, luxury goods and home furnishing industries. The transaction is expected to be completed in the first half of 2025. Syntagma Capital is a privately held investment company based in Brussels that focuses on investments in the material, chemical, industrial and business services markets. The Willkie team was led by partner Hugo Nocerino and included partners Gavin Gordon, Faustine Viala, Eugene Chang and Komal Raina, counsel Timothy Sawyer, and associates Akim Ouint, Ethan Douglas, Charles Bodreau and Carla Molines.

Nov 19

1 min