An Innovative Financial Boutique Operating Around The World

We Are Aestas.


Aestas is an independent financial boutique based in Rome. The company is represented by high quality professionals capable of providing capital markets and corporate finance advisory services both locally and internationally in areas such as M&A, restructuring and recapitalization, IPOs, and private placements.
  • STRATEGIC FINANCIAL ADVISORY

    Our Corporate Finance Team helps structure complex transactions across the globe. We provide advice on a full range of transactions, including:

    • Corporate debt restructuring
    • Corporate turnaround
    • NPL valuation and portfolio management
    • Pre-bankruptcy and insolvency strategy with bespoke financial arrangements with creditors, banks and the remaining stakeholders
    • Appraisal of structured products
  • DEBT CAPITAL MARKETS

    Aestas will invest into a wide spectrum of Special and Complex Situations:

    • Distressed Financial Assets
    • Distressed and/or illiquid operating asset
    • Noncore operating assets
    • Litigations or claims

    We Are Aestas.


    Aestas is an independent financial boutique based in Rome. The company is represented by high quality professionals capable of providing capital markets and corporate finance advisory services both locally and internationally in areas such as M&A, restructuring and recapitalization, IPOs, and private placements.
    • STRATEGIC FINANCIAL ADVISORY

      Our Corporate Finance Team helps structure complex transactions across the globe. We provide advice on a full range of transactions, including:

      • Corporate debt restructuring
      • Corporate turnaround
      • NPL valuation and portfolio management
      • Pre-bankruptcy and insolvency strategy with bespoke financial arrangements with creditors, banks and the remaining stakeholders
      • Appraisal of structured products
    • DEBT CAPITAL MARKETS

      Aestas will invest into a wide spectrum of Special and Complex Situations:

      • Distressed Financial Assets
      • Distressed and/or illiquid operating asset
      • Noncore operating assets
      • Litigations or claims

      Working with Aestas takes 5 Steps

      • 1
        Deal origination

        Aestas draws upon its access to a unique network for idea sourcing and timely insight into situations as they develop.
        Prioritize to:

        • Meet criteria
        • Informational edge
        • Favorable risk/reward
        • Hypothetical capital structure
        • Hedging Strategy
      • 2
        Position Structuring

        • Asset analysis with the support of external advisors.
        • Investment decision aimed at seeking the best risk/reward tradeoff.
        • Size positions based on the level of confidence and the magnitude of tail.
        • Risk Require a significant return premium for illiquid positions.
      • 3
        Research Modelling and Deal Structure

        • Analyze industry and competitive landscape.
        • Prepare detailed financial model and assess valuation framework.
        • Collaborateand composequestions for due diligence.
        • Complete management calls/visits; conduct field research and channel checks; consult with industry contacts.
        • Assess the range of possible acquisition price.
        • Emphasize downside risk.
      • 4
        Deal Structure

        • Convergence on acquisition price
        • Investment through dedicated capital increase.
      • 5
        Risk Management

        • Ensure an appropriate liquidity profile of the broader portfolio and limit exposureto highly illiquid positions.
        • Balance a bottom-up centric strategy with a top-down assessment of overall risk.
        • The process is intended to concentrate the portfolio on idiosyncratic risk and mitigate unintended beta exposures even with derivatives.

        Aestas: why and when

        The mission of aestas is to find the perfect financial solution for you

        NON CORE ASSETS

        Noncore or strategic assets can be contributed in exchange for shares.

        CLAIMS
        Evaluable claims, even at an early stage of the litigation, may be in contributed to exchange of shares, avoiding the management of the dispute.
        CREDITS
        The Client can take advantage of the opportunity to contribute unsettled or under dispute receivables so as to get a convertible asset in return.

        OTHER ASSETS

        Generally, any type of assessable asset may be contributed in Aestas.

        Our Clients, Our Mission

        • Maintain an agile, high-expertise organization (currently made of 10 professional)
        • Focus solely on complex corporate finance and capital markets transactions
        • Assist our Clients in achieving their middle-long term objectives with a strategic perspective
        • Establish a trusted and long-lasting business relationship with the Client

        VALUES

        • Respect
        • Achievement
        • Industry expertise
        • Integrity

        ADVANTAGES

        • Innovative
        • Vision & tactical ability
        • Proactivity
        • Quick delivery

        PHILOSOPHY

        • Lateral thinking
        • Team culture
        • Data/output quality
        • Long-term vision

        Why Aestas should be your choice.

        Extensive network

        Managers of Aestas have a long-standing career in the investment banking industry and a broad network in the banking sector, with the most important and well recognized international law firms and among the most important consulting companies.

        High skilled management team

        The management complex situations like the management of participation or troubled assets, is entrusted to a highly experienced team with a proven track record and personal credibility. Aestas has the right managers to approach, define, structure and execute every complex deal.

        Alignment of interest

        Aestas has adopted a compensation scheme for its managers that allows a perfect alignment of interests.

        Execution capability

        The analysis of any potential deal requires a blend of expertise (accounting, legal, fiscal, etc…). The managers have all professional skills needed to manage in-house the highest number of these profiles.

        Extracting Hidden Value

        The assets in which aestas invests are complex and require high experience and business acumen. Combining tailor made financial solutions, the management experience and a different time horizon, aestas is able to maximize the hidden value of any asset.

        Light cost structure

        A very lean and variable cost structure has been defined. Most of the deal profiles are internally evaluated and managed. Only a restricted and selected number of topics are outsourced – e.g., legal. This approach allows Aestas to keep fixed costs low and to achieve cost savings for the Client.

        Our Team, Your Team

        This is who we are, this is where we come from.
        • Giulio
          Sapelli

          President
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          Giulio is an economist, historian and business executive. He was full professor of Economic History at the University of Milan, where he also taught political economy.

          He has worked with research, training and consultancy tasks at Olivetti and Eni. From 1996 to 2002 he was Board Member of Eni. From 2000 to 2001 he was Government Advisor of the Monte dei Paschi di Siena Foundation. From 2002 to 2009 he was Board Member of Unicredit Banca d’Impresa. Since 2002 he has been a member of the World Petroleum Council and since 2003 he has been a member of the OECD’s International Non-Profit Board.

          On 3 December 2018 he was appointed Vice- President of the Banca Popolare di Bari Banking Group,on the resolution of the relevant Board of Directors.

        • Matteo
          Gattola

          Partner
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          Dr. Gattola owns a degree in electronic engineering, IT specialization, obtained at the University of Studies of Rome “La Sapienza.

          He had a contract lecturer in the Master “Privacy protection and data protection officer”, in years 2018 and 2019, organized by the University of Rome Tor Vergata.

          Moreover, Matteo is consultant in the sectors of smart cities / IoT, new technologies (IT, telecommunications, new media, artificial intelligence and predictive algorithms, Big Data, digital platforms) and energy efficiency.

        • Lodovico
          Bevilacqua

          Partner
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          Lodovico Bevilacqua graduated in Business Economics in 1968 at the university of the Sacred Heart of Milan and in 1969 obtained a Master degree of Economics at INSEAD. In 1973 Lodovico became chairman of Borgosesia S.p.A and at the same time editorial and managing director of respectively RCS Rizzoli magazine and Milano libri S.p.A. In 1993 undertook a shareholder and director career at La Compagnia Finanziaria S.p.A .

          Since 2010 Ludovico specialized in the introduction of small corporations to the AIM as a Senior partner in Ambrogest S.p.A

        • Alessandro
          Stoppa

          Partner

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          Alessandro Stoppa has been appointed Sizmek’s Manager Director for Italy. In his new position, Stoppa is responsible for all activities and business strategy in Italy, leading a team, which in recent years has experienced strong growth both in terms of skills acquired in the field and successes for the acquisition of new customers.

        • Giaime
          Marzo

          Partner

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          Giaime Marzo has a solid experience in frontier and emergent markets, mainly South Eastern Europe.

          He has been general representative of the biggest financial and industrial conglomerate in Bulgaria, the CCB group, representing it towards EU and US institutions. Moreover he has been member of the supervisory board of Banca Carpatica in Romania, and board member of the Italian Chamber of Commerce in Bulgaria.

          He advised large enterprises in market-entry in the Balkan region. He collaborates with non government institutions such as The Aspen Institute Italy and Romania, the Transatlantic Business. Council, and many others.

          He is a lecturer on Fintech topics and he wrote several articles for the Enciclopedia Treccani geopolitical review.

          He currently manages the Bulgarian company Sommet Advisor and he is focused on banking and insurance, commodities and circular economy.

        • Marco
          Carbone

          Partner
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          Marco is a qualified professional with a significant international experience gained in M&A transactions, strategic & tax advisory, corporate law and debt restructuring. He is the founding founder partner of Studio Tributario Dottori Commercialisti Associati since 2005.

          Marco has held positions as CEO and Chairman of large and multinational corporations. He has been President of I.T.S.C, a non profit organization promoting the business internationalization of its members. Marco enforced institutional , political and diplomatic relationships with the Italian government and some financial institutions. He is graduated in Economics and Business Administration from the University of Genoa.

        • Tommaso
          Marchiorello

          Partner
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          Tommaso manages major hospitality brand his business is focused on real estate assetts between europe and latin america .

        • Paola
          Palumbo

          Partner
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          Paola Palumbo is an Italian architect and designer with experience in various disciplines of architecture: planning, project development, landscaping, interiors, furniture design and fabrication overseeing the complete production process of building sector life cycle, from initial phase to closure – synthesizing project information in record time and in high-pressure situations, with a focus on means containment. She has worked in different building types: residences, representation and institutional offices, retail, social housing, recording studios, libraries.

        • Roberto
          Cortes

          Partner
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          Graduated from Drexel University in Philadelphia, Pennsylvania in 1992 magna cum Laude, Bachelor of Business Administration and Finance. Member of the Business Honor Society.

          Worked at CIBC Oppenheimer as an Institutional Vice President. Founder of a Private Banking Entity in the US, managing over 1,6 billion of assets under management, with offices and representation offices in Miami, Uruguay, Argentina and Switzerland. Partner in a real estate development company in South Florida, building and developing over $80 million dollars of high- end single-family home.

          Partner in Venture Capital firms in the sports and biotech industry. Currently partner of a M&A Boutique firm in Madrid, managing mandates for private companies in the K-12 schools education industry in Latin America and Professional Educational Schools in Europe.

        • Fabio
          Palumbo

          Partner
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          Fabio boasts a broad experience in investment banking due to his work in primary financial institutions around the world. After serving as commander in the Italian Armed Forces, he became a Manager at Swiss Bank Corporation (UBS) and then joined Robert Fleming & Co. (J.P. Morgan) as a Director in the Italian team.

          Fabio advised Italian and international groups as well as state-owned enterprises across Europe, Latin America and Asia Pacific. His work allowed him to gain access to some of the main decision- makers in these regions, including executives of large International corporate and financial groups and senior government officials.

          Fabio holds a degree in Economics and Business Administration from the Sapienza University of Rome, a master in marketing at Berkley and a master in Financial Management at Harvard.

        • Marco
          Ferrario

          Analyst

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          Graduated in Economics and Business Economics at Maastricht University. Financial analyst

        • Lorenzo
          Fagiani

          Analyst
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          Graduated in Business administration and economics at the university of Tor Vergata. Financial analyst.

        • Shaun
          Fraschetti

          Analyst
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          Graduated in Business administration and economics at the university of Tor Vergata. Financial analyst.

          Track Record

          Our successes throughout the years
          • Management of a private equity fund including a total asset of €600 mln, underwritten by Macif and Matmut
          • Support for the increase of the floating shares
          • Advisor for listing on AIM Italia
          • Advisor for listing on AIM Italia
          • Advisor for listing on AIM Italia
          • Advisor for listing on AIM Italia
          • Advisor for listing on Marchè Libre
          • Advisor for the sale of industrial activities to BOSCH
          • Advisor for the business planning
          • Advisor for listing on Marchè Libre
          • Advisor for the sale of two environmental services companies
          • Advisor for the sale of WISCO SpA
          • Advisor for the listing
          • Capital contribution enabling Imvest’s listing on MAC
          • Support for the acquisition of a competitor
          • Finalization of a 4.9% capital increase reserved to Veneto Banca
          • Advisor for listing on MAC
          • Evaluation of Magnaghi S.p.A. and Salver S.p.A.
          • Advisor to Poligrafici Printing for its listing on Aim Italia
          • Evaluation and disposal of Visiant Galyleo
          • Accounting update to comply with Italian Law (231) on behalf of Cassa Depositi e Prestiti
          • Evaluation of Endemol Italia Holding S.p.A. for IPO
          • Financed 0,5% of BNL acquisition
          • Advisor for Strategic Planning and M&A activity
          • Placed structured bond to investors
          • Evaluation and sale of Trafomec to Cape Natixis
          • Advised DADA for disposal of own shares to institutional investors
          • Advised Dada for 6,3% acquisition
          • Advisor for shareholders restructuring
          • Evaluation and disposal of BAT
          • Strategic and Financial Advisor
          • Evaluation of AIR P TV Development AB for contribution in kind
          • Advisor of Cordea Savills for the acquisition of a real estate portfolio
          • Financial advisor for setting up SOGEDIS and Pomezia Servizi’s business plan
          • Implemented strategic plan
          • Advisor for structuring a real estate loan
          • Evaluation of Skymax S.p.A.
          • Advised So.ge.pa. (Finmeccanica Group) for brand evaluation of AT&D and disposal of the company
          • Private placement to institutional investors
          • Advisor for the renegotiation of a bank overdraft
          • Strategic and Financial Advisor
          • Advisor for the business planning
          • Evaluation and disposal of Punto Informatico to Edizioni Master
          • Evaluation and disposal of Ig Technology
          • Advisor for setting up retirement plan of FINMECCANICA top management
          • Advisor for listing on MAC
          • Advisor for listing on MAC
          • Sale of a 3% stake to Banca Etruria

            Selected Past Experiences

            The Firm supports local and international Small and Medium Enterprises (SMEs) in their growth plans and turnaround processes, relying on a team of seasoned professionals with 25 years of average experience in corporate finance, commercial and investment banking, and strategic advisory for both public and private clients.
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                Aestas S.r.l.
                Via Po 12Rome (RM) 00198 ITALY
                +39 334 912 6224 |
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