30 - 11 - 2020
PROGRESSIO REACHED AN AGREEMENT TO INVEST IN ASSIST DIGITAL, THE LEADING CUSTOMER EXPERIENCE MANAGEMENT COMPANY
Milan, November 30, 2020. Private Equity Fund Progressio Investimenti III reached a binding agreement with the shareholders and management team of Assist Digital S.p.A. (the “Company” or “Assist Digital”) to invest in the Company and hold a 30% stake. The transaction will be executed within the end of the year and the current shareholders will keep a majority stake. The executive chairman Enrico Donati, the CEO Francesca Gabrielli and the general manager Franco Fradiani will keep their key operating roles and are fully committed to the project.
With over 500 consultants, designers and engineers across 15 offices, competence centers and contact centers in Europe and a turnover around Euro 100 million, the Company is a digital Customer Relationship Management (CRM) service provider focused on CRM transformation and digital interactions, blending human and Artificial Intelligence to match consumer and brand needs. Assist Digital helps blue-chip companies to create a seamless experience for every customer, designing effective interfaces and managing relationships in real-time across every single channel, with the aim of turning every contact into an opportunity of improving customer satisfaction. Founded as an advisory company, Assist Digital has progressively transformed into a next generation CRM specialist: an innovative blended offering of business process outsourcing services and digital services.
Progressio will support the Company’s continuous efforts in consolidating its leadership position through the expansion of its international reach and the enduring partnerships with top clients across multiple industries. With the adoption of an omnichannel organizational strategy and the use of innovative technology platforms, Assist Digital has proven to have strong execution capabilities and an outstanding approach to innovation. The strategic plan will also envisage external growth opportunities.
Massimo Dan, Investment Manager in Progressio, said: “we are thrilled to partner with an outstanding management team and a Company which has been able to orchestrate creativity, data, technology and processes to develop a unique offering centered around the customer experience to improve customer engagement. Assist Digital has a unique value proposition coupling business process outsourcing with digital services”.
Angelo Piero La Runa, Senior Partner in Progressio, said: “we are honored to invest in Assist Digital alongside its highly-experienced management team. The Company is best
positioned to take advantage of the major changes we see happening in all the industries because of the fast-growing digital transformation trend. Commitment across all the top managers to remain in their managerial roles is a key element to assure continuity in the Company and to keep boosting expansion abroad”.
Enrico Donati, Executive Chairman of Assist Digital, said: “This strategic partnership with Progressio will benefit Assist Digital in being able to achieve its ambitious expansion plans in providing services to an increasing number of tier 1 clients across Europe. In 2019 we completed 3 successful acquisitions and with Progressio on board we expect to continue with this aggressive growth plan. We are confident that the Company will double in size in the next 3 to 4 years”.
For Progressio, the deal was executed by the CEO Filippo Gaggini, Angelo Piero La Runa (Senior Partner), Massimo Dan and Giovanni Pesce. Progressio was assisted by financial advisor Fineurop Soditic, Bonelli Erede (legal aspects and contracts negotiation), Alix Partners (business due diligence), EY for financial and ESG aspects, Russo De Rosa Associati (tax due diligence).
Assist Digital shareholders were assisted by Giovannelli e Associati for legal aspects and contracts negotiation.
Assist Digital is the seventh investment of private equity fund Progressio Investimenti III, closed in July 2019 reaching a hard cap of Eur 250 mln, which has already deployed over 60% of its total commitment.