

Giorgio Carere
Ethica Group
Centro C, founded in 1984, is headquartered in Brescia. It assists companies by offering them a wide range of solutions and services to support their daily work in the office. It is able to support organizations of all sizes, whether managing printing devices or organizing document workflow processes. Centro C handles more than 3,600 printing machines and acts as a partner for the digital transformation of Italian SMEs, developing software solutions and technical infrastructures capable of to increase the operational efficiency of its customers. Centro C closed 2020 with €5.2 million, EBITDA of €1.5 million and net cash of €2.7 million.
Ethica Group acted as financial advisor in the acquisition of Centro C, a leading Italian company active in the market of Managed Print Services and Managed Content Services, by Typos Holding, a subsidiary of Private Equity Fund Star Capital SGR. The operation is part of the project of consolidation of the Managed Printing Services sector aimed at creating a leading aggregative platform in Italy. The project, launched last year by Star Capital with the acquisition of Gamma S.p.A., a Verona-based company that has been providing Office and Professional Printing services for over 35 years, aims to integrate other companies in the same sector and other adjacent sectors. Centro C and Gamma, together, plan to achieve a turnover of around €15 million by the end of 2021, with 50 employees and a widespread presence, mainly in Central and Northern Italy.
Ethica has been able to find the optimal Partner, matching Seller expectations both in terms of economics and deal perimeter, ensuring clear goals and milestones to achieve a buy and build strategy