Fund, Investor & Acquisition Network
- 5 acquisitions
- 33 investors
- 5 search funds
Inner ring: investors. Middle ring: funds and search funds, sized by how many investors back them. Outer ring: the acquisitions they made — click any node to highlight its network.
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- Fund / search fund
- Strategic acquirer
- Acquired company
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Who is buying companies in Italy?
WhoBoughtWho tracks 5 acquisitions of companies in Italy (2018–2026), made by 5 buyers — private equity funds, search funds and strategic acquirers — backed by 33 investors. The most active sectors are Luxury travel events and experiences, Industrial laundry services, Corrugated cardboard packaging, Testing, Inspection & Certification, Plastic packaging.
Most active acquirers in Italy
- Ariol Capital (search fund) — 1 acquisition: Pentapackaging (2018).
- Atlas Partners (search fund) — 1 acquisition: Stilef (2025, turnover of EUR15M in 2024 with a 20% EBITDA).
- Fitex Capital (search fund) — 1 acquisition: Napolillo Industry (2025).
- RNP Growth (search fund) — 1 acquisition: Duco Travel Summit (2026, Not disclosed).
- Visconti Capital (search fund) — 1 acquisition: ELTI (2024).
Browse the full list (38 funds/investors, 5 acquisitions in Italy)
The graph above is the fast way to explore this — this plain list covers the same ground for anyone who'd rather scan or search text. Each name links to its own page centered on that entity.
- Agirax — Investor
- Alexander Kirn — Investor
- Ariol Capital — Search fund · Backed by Inversiones Cabiedes, Relay Investments, TTCER Partners
Search fund vehicle. Led by Marc Bartomeus. Acquired Repli in 2014. Source: https://rollupeurope.com/p/buscar-como-boss-ariol-the-deal-that-ignited-spain-s-search-fund-hype
- Acquired Pentapackaging in 2018 (Plastic packaging), Italy. Italian plastic packaging firm, Bergamo (add-on to Repli) Source: https://capital-riesgo.es/en/articles/el-fondo-ariol-capital-vende-repli-a-la-multinacional-berlin-packaging/
- Atlas Partners — Search fund · Backed by Alexander Kirn, Istria Capital, Juergen Rilling, Legacy Partners, Loris Lanzelloti, Marc Bartomeus, Novidam, Paolo Guida, Valmaris Private Investors, Vonzeo Capital, Banca Intesa Sanpaolo (leveraged financing)
Search fund vehicle. Acquired Stilef (Corrugated cardboard packaging) in Italy, announced 2025-10-02.
- Acquired Stilef in 2025 for turnover of EUR15M in 2024 with a 20% EBITDA (Corrugated cardboard packaging), Italy. Acquired by Atlas Partners (Giacomo Maria Garbarino and Stefano Carpano). Backed by Alexander Kirn, Istria Capital, Juergen Rilling, Legacy Partners, Loris Lanzelloti, Marc Bartomeus, Novidam, Paolo Guida, Valmaris Private Investors, Vonzeo Capital. Source: https://searchfundsnews.com/atlas-partners-acquires-an-italian-cardboard-packaging-company/
- Banca Intesa Sanpaolo (leveraged financing) — Investor
- Celium Capital — Investor
- Cerralvo Capital — Investor, Florida, USA
Search fund investor · Florida, USA · founded 2019 · 33 deals backed (30% Mexico, 70% elsewhere); first international exit in Spain (2024).
- Fitex Capital — Search fund · Backed by Agirax, Cerralvo Capital, Forti Search Fund Partners, Gernot Eisinger, Innesto Partners, Istria Capital, Jan Woitschaetzke, JB46, Juergen Rilling, Kinderhook Partners, Search Fund Ventures, SFClub, Vito Giurazza
Search fund vehicle. Acquired Napolillo Industry (Industrial laundry services) in Italy, announced 2025-02-11.
- Acquired Napolillo Industry in 2025 (Industrial laundry services), Italy. Acquired by Fitex Capital (Daniele Schiavello and Giulio Marini). Backed by Agirax, Cerralvo Capital, Forti Search Fund Partners, Gernot Eisinger, Innesto Partners, Istria Capital, Jan Woitschaetzke, JB46, Juergen Rilling, Kinderhook Partners, Search Fund Capital, SFClub, Vito Giurazza. Source: https://searchfundsnews.com/italian-fitex-capital-acquires-the-industrial-laundry-napolillo-industry/
- Forti Search Fund Partners — Investor
- Gernot Eisinger — Investor
- Innesto Partners — Investor
- Inseta Partners — Investor
- Inversiones Cabiedes — Investor, Spain
Search fund investor (Category C) · Spain · 55 investments, 10 exits (2 international); ~75% of portfolio in Europe, check size EUR400-500K, FinTech & Consumer focus.
- Istria Capital — Investor, Madrid, Spain
Search fund investor (Category B) · Madrid, Spain · 43 total acquisitions (6 international); shifted focus from LATAM to Europe in 2023, Software/Services.
- Jan Woitschaetzke — Investor
- JB46 — Investor, Spain
Category A search fund investor · Spain · 100 backed search funds, 32 portfolio companies (5 international); active in Brazil and Mexico, Business Services/Healthcare/Distribution.
- Juergen Rilling — Investor
- Jurgen Rilling — Investor
- Kinderhook Partners — Investor
- Legacy Partners — Investor
- Loris Lanzelloti — Investor
- Marc Bartomeus — Investor
- Martell Capital Partners — Investor
- Novidam — Investor
- ONEtoONE Asset Management — Investor
- Paolo Guida — Investor
- Relay Investments — Investor, Boston, USA
Category A search fund investor · Boston, USA · $200M AUM · 200+ search funds backed; heavy technology focus with fast-growing international exits since 2019.
- RNP Growth — Search fund · Backed by Istria Capital, Inseta Partners, Cerralvo Capital, The Cromwell Harbor, Martell Capital Partners, Celium Capital, Spectra Investments, Jurgen Rilling
Search fund vehicle. Acquired Duco Travel Summit (Luxury travel events and experiences) in Italy, announced Thu Aug 27 2026 00:00:00 GMT+0000 (Coordinated Universal Time).
- Acquired Duco Travel Summit in 2026 for Not disclosed (Luxury travel events and experiences), Italy. Acquired by RNP Growth. Backed by Istria Capital, Inseta Partners, Cerralvo Capital, The Cromwell Harbor Partnership, Martell Capital Partners, Celium, Spectra Investments, Jurgen Rilling. Source: https://searchfundsnews.com/rnp-growth-acquires-italian-duco-travel-summit/
- SCIPIO Holding Group — Investor
- Search Fund Ventures — Investor
- SFClub — Investor
- Spectra Investments — Investor, Brazil
Search fund investor (Category C) · Brazil · founded 2017 · ~$1.23B AUM, 700+ investee companies; LATAM-focused, prefers mid-market over startups.
- The Cromwell Harbor — Investor
- TTCER Partners — Investor, California, USA
Category A search fund investor · California, USA · founded 2007 · invested in 200+ search-acquired businesses; deeply active international coinvestor.
- Valmaris Private Investors — Investor
- Visconti Capital — Search fund · Backed by SCIPIO Holding Group, ONEtoONE Asset Management
- Acquired ELTI in 2024 (Testing, Inspection & Certification), Italy. Acquired by Visconti Capital, backed by SCIPIO Holding Group and ONEtoONE Asset Management
- Vito Giurazza — Investor
- Vonzeo Capital — Investor, Vancouver, Canada
Search fund investor (Category B) · Vancouver, Canada · founded 2017, first search fund investor outside the US; $40M fund across 13 non-US countries, check size $500K-$1M.