31 Oct 2025

"B4 Investimenti Acquires Majority Stake in Italian Textile Company Vay"

"B4 Investimenti SGR, through its fund B4 H III – Fondo Euveca, has acquired a majority stake in Vay, a leading Italian company specializing in fabric conversion for curtains, decorative, and furniture textiles. This marks the fund's first investment, structured as a buy-out in partnership with entrepreneur Giovanni Vaj and new CEO Olivier Albert Delhomme. The operation and industrial plan were financed by Banco BPM, with legal and financial support from various firms, including Gianni & Origoni, Gusmitta & Associati, LCA, and Nash Advisory."

Several law firms participated in the transaction involving the acquisition of a majority stake in Vay by B4 Investimenti SGR through its fund B4 H III – Fondo Euveca. Gianni & Origoni assisted B4 Investimenti SGR, Gusmitta & Associati provided support for tax and payroll due diligence, LCA advised the selling shareholders, Nash Advisory collaborated with Brand Implementation Solutions to assist the sellers, and Greco, Vitali e Associati supported Banco BPM. The transaction, structured as a buy-out, marks the first investment of the B4 H III – Fondo Euveca fund. It was carried out in partnership with entrepreneur Giovanni Vaj and involved the participation of manager Olivier Albert Delhomme, who will serve as the new CEO. Banco BPM financed the transaction and the implementation of the related industrial plan. The legal team from Gianni & Origoni assisting B4 Investimenti SGR included partner Andrea Mazziotti di Celso, managing associate Vittoria Sciarroni, and associate Roberta De Girolamo for corporate and contractual matters; counsel Alessandro Magnifico and associate Luca Porcu for banking finance aspects; partner Cristina Capitanio, counsel Veruska Crucitti, and associate Alessio Tuccini for labor law matters; and counsel Eugenio Falcone and associate Andrea Baglioni for real estate aspects. Gusmitta & Associati's team, handling tax and payroll due diligence and fiscal structuring, consisted of Paolo Gusmitta, Cristina Gusmitta, Luca Ranieri, and Silvana Iungo. LCA's team advising the selling shareholders included Roberto de Bonis, Sara Consoli, Federica Marzachì, and Giovanni Binaghi, focusing on corporate and contractual matters. Nash Advisory, in collaboration with Pietro Mentasti of Brand Implementation Solutions, supported the sellers with a team comprising Giovanni Panigada, Alberto Bolis, Alisea Zucca, and Davide Borda Bossana. Banco BPM was advised by Greco, Vitali e Associati, with a team led by partner Chiara Langè, supported by senior associates Matteo Miramondi and Dalila De Salvo, and associate Federico Camisotti.
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