Ethica Group, through its M&A and Debt Advisory teams, assisted Auctus Capital Partners, an independent Italian-German investment firm, in completing the acquisition of Delo Instruments S.r.l., a leading company in Italy specializing in the integration of hardware and software for testing systems serving multiple end markets, including telecommunications, data centers, and power generation.
Founded in 1981 by Claudio Baldi in Pieve Emanuele (MI), Delo has, over the years – thanks also to the leadership of CEO Arturo Caracciolo – built its identity as a Made in Italy company specializing in the integration and customization of tailor-made testing equipment. By combining standard hardware and software supplied by top-tier global manufacturers with dedicated software solutions, Delo delivers flawless test automation through customized scripts, supported by maintenance, training, and calibration services that ensure long-term product performance and efficiency. With relationships consolidated over more than 10 years with testing leaders and major service providers, Delo today acts as a bridge between market demand and innovation. Thanks to its comprehensive product portfolio, the company now serves a wide range of end markets, including telecommunications, broader communications, data centers, power generation, and the defense sector. With revenues of around €35 million, Delo positions itself as Italy’s leading one-stop shop specializing in the distribution and integration of high-tech testing and measurement equipment.
In the context of the transaction, AUCTUS was assisted by Ethica Group, with the M&A Advisory team composed of Filippo Salvetti and Alessandro Corina handling financial aspects, and the Debt Advisory team, formed by Alessandro Cortina and Leonardo Moneda, managing financing structuring.
