Transaction details

Ethica Debt Advisory advised Synergo S.G.R. in structuring a financing for the acquisition of Kirey

Ethica Debt Advisory advised Synergo SGR in structuring a financing for the acquisition of a group of companies arising from aggregation of several excellence in IT sector (Insirio, IKS and System Evolution with Kirey)

Based in Milan, Kirey specializes in IT services for the insurance industry and is the long-term partner of Tech Mahindra in Italy. Synergo has supported the build-up of a new IT group through the integration of Kirey with three other Italian IT players – IKS, Insirio, and System Evolution – complementary in terms of both product portfolio and customers. The newly formed Group provides the insurance, banking, energy and manufacturing industries. In 2014, Kirey reported a 10€M turnover, Insirio 14€M, System Evolution 14€M and IKS 16€M.

“Supporting companies in their growth projects is the real mission of our Fund” commented Gianfilippo Cuneo, founder and CEO of Synergo SGR. “With Vittorio Lusvarghi a strong harmony of intent has been created immediately and as Synergo we are giving and we will continue to give all our support to the Group to allow the achievement of ambitious growth targets”.