Transaction details
Bifire
Ethica Group as financial advisor in the transaction aimed at Bifire S.p.A. delisting
Ethica Group, with its M&A Advisory team, acted as financial advisor in the context of the voluntary total public tender offer (OPA) launched by Astrea S.r.l. aimed at Bifire S.p.A. delisting.
Bifire S.p.A., a company based in Desio (MB), was founded in 2002 by Alberto Abbo and Alfredo Varini. Bifire plays a leader role thermal insulation and fire protection solution production, mainly intended for construction and industrial sectors. Listed since 2022 on the Euronext Growth Milan multilateral trading system, Bifire S.p.A. recorded revenues of €35 million in 2024 and is now established as a benchmark for highly innovative insulating technologies.
Astrea S.r.l. is the vehicle – owned by Altus S.r.l. (company fully owned by Alberto Abbo), Alfredo Varini, and Equilybra X S.p.A. – specifically created with the goal of launching a voluntary public tender offer for all shares of Bifire S.p.A., eventually aimed at delisting the company.