F2i, the biggest Italian infrastructure fund with around €5bn in assets under management, announced its entry into the port business with the acquisition of the Porto di Carrara Spa Group, which controls three terminals in Marina di Carrara, Marghera and Chioggia.
The three companies Porto di Carrara, Multiservice and Transped were sold by Enrico Bogazzi and generate total revenues of €59m ($66m) yearly and handle some 5 million tons of break bulk, project cargoes, steel products and dry bulk.
The investment was made through the third F2i fund, assisted by Venice Shipping and Logistics as industrial advisor.
“F2i has decided to enter the sector of bulk port terminals since this is a vital piece of infrastructure in terms of supplying Italian industrial sectors and a strategic hub for the country’s economy” commented Renato Ravanelli, CEO of F2i fund. “It’s a fragmented segment, with numerous small operators: F2i, in keeping with its mission to act as an aggregator in strategic sectors for our economy, is putting itself forward to create a national champion under Italian control and management, which can guarantee neutral access to strategic infrastructure, in this case ports.”
F2i is the largest infrastructure fund operating in Italy and among the leading ones in Europe. Its assets under management amount to around €5bn, invested in key areas of the Italian economy: airports, renewables, natural gas distribution, integrated water cycle, telecommunications, logical networks, health.