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Dea Capital invests in water parks

The IDeA Corporate Credit Recovery II fund takes over 10% of Costa Edutainment

The IDeA Corporate Credit Recovery II fund, managed by DeA Capital Alternative Funds Sgr, acquired a 10% stake in the Costa Edutainment Group to support the company's development over the next few years. The operation will be carried out with a capital increase of Euro 5 million, as well as with the injection of financial resources by IDeA itself, illimity Bank Spa and the Azimut Eltif Private Debt - Capital Solutions (Muzinich & Co. Ssgr) fund for Euro 35 million through the issue of a convertible bond loan.

Costa Edutainment is a leader in Italy in the management of sites and large public and private structures dedicated to recreational, cultural, educational and scientific research activities, welcoming around 3 million visitors a year. It manages 10 activities nationally and internationally, including the Aquarium of Genoa, the Aquarium of Cattolica, the Oltremare, Aquafan and Italia in Miniatura parks on the Romagna Riviera, the Livorno Aquarium in Tuscany. It also manages the Mediterraneo Marine Park in Malta.

"As part of the operation - explains Federico Giribaldi, Managing Director of the IDeA CCR II Fund, Costa Edutainment will acquire two new structures (the Le Caravelle water park and the CiRiBi accommodation facility both in Liguria). In addition, the industrial plan includes investments which will allow the company to consolidate its leadership, continuing the path of constant growth recorded in the pre-pandemic years".

Giuseppe Costa remains at the helm of the Group. Andrea Varnier joins him in the role of Chief Executive Officer.

"The decision of the IDeA CCR II Fund to be at our side as a partner - declares Giuseppe Costa, majority shareholder of Costa Edutainment - is for us a recognition of the success of a business model that has proven over the years to bring added and shared value. not only to the company but also to the territories in which it operates and to all the stakeholders involved. Also in my role as President of Opera Laboratori Fiorentini, a large entrepreneurial reality specialized in the management and enhancement of cultural heritage, I am sure that this new partnership will bring further development and innovation in the strategic tourism and culture market, which has restarted after two years of great suffering".

The new CEO of the Group, Andrea Varnier, has thirty years of experience in the fields of communication, major events, with particular reference to the Olympic world, entertainment and exhibition space management, in which he held top positions in important companies internationally. Until a few months ago he was in Dubai as CEO of The Experience-Richard Attias & Associates. Previously he was CEO of Filmmaster Events and Filmmaster Productions, also working on the realization of the Olympic and Paralympic ceremonies. On behalf of the French GL Events he was CEO of Padova Fiere and CEO of Lingotto Fiere.

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