CdR Advance Capital

Name

CdR Advance Capital

Legal name

ABC Company S.p.A.

Website

https://compagniadellaruota.com

Company type

Public

Founded year

2012

Operating status

Acquired

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Financial Advisory and Investment Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

akta.pro primary industry

Collateralized Debt Obligations (CDO/CBO/CFO) (FSACACAD)

Keywords

• Permanent capital vehicle
• Business combinations
• Convertible bond issuance
• Non-performing loan investments
• Financial advisory services

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales, Technology or R&D

Revenue model

1. Investment Returns: Returns from direct investments in quoted, listing-seeking, or private companies, as well as through business combination vehicles launched by the company.
2. Advisory Services: Financial and strategic consulting services provided to portfolio companies and independent clients through the Advisory Area.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

CdR Advance Capital is a permanent capital vehicle and benefit corporation that serially launches listed and unlisted financial instruments to execute Business Combinations with predefined criteria, and invests directly in quoted, listing-seeking, and private companies. Its two business areas deliver (1) promotion of financial vehicles and direct investments, and (2) financial and strategic advisory services to portfolio companies and independent clients.

Product overview

CdR Advance Capital S.p.A. is a permanent capital vehicle and benefit company that operates in two main areas: an Investment Area that promotes financial vehicles and instruments, executes business combinations, and makes direct investments; and an Advisory Area that provides financial and strategic consulting services to portfolio companies and independent clients. The company previously operated subsidiaries including Borgosesia SpA (investment holdings), Advance SIM (financial services), Advance Corporate Finance (M&A advisory), and Dimore Evolute (real estate). Following a partial split in December 2019, most operations were transferred to Borgosesia. The company issued various financial instruments including convertible bonds (POC 2014-2019, 2015-2021, 2016-2022), non-convertible bonds (JUMBO, NPL Italian Opportunities), and warrants. In 2021, the company underwent a name change to ABC Company S.p.A. and submitted a application for re-admission to Euronext Growth Milan.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Area services Promotion of financial vehicles and instruments, execution of Business Combinations with predefined target criteria, and direct investments in listed, listing-seeking, and private Italian companies. Targeted at Italian institutional and professional investors and at companies seeking capital or partnerships.
• Advisory Area services Financial and strategic consulting services delivered to portfolio companies within the Group and to independent third-party clients. Complements the Investment Area to provide end-to-end coverage of capital markets and corporate finance needs.
• Compagnia della Ruota 2014-2019 Convertible Bond 6.5% 6.5% convertible bond program issued in 2014 for capital raising and investment financing, with maximum €4.95 million, distributed to professional investors.
• CdR Advance Capital 2015-2021 Convertible Bond 6% 6% convertible bond program issued in October 2015 with a maximum €4.95 million size, admitted to AIM Italia, distributed to professional investors and later transferred to Borgosesia SpA.
• CdR Advance Capital 2016-2022 Convertible Bond 5% 5% convertible bond program admitted to AIM Italia on 19 December 2016, distributed to professional investors, with full placement achieved by May 2017.
• JUMBO 2018-2025 2.75% Non-Convertible Bond 2.75% non-convertible bond program with up to €25 million size, issued for Group operations financing and listed on the Vienna Stock Exchange Third Market for professional investor distribution.
• NPL Italian Opportunities Securitization Vehicle Securitization vehicle and related NPL investment program launched in 2017 by CdR Advance Capital/Group for the acquisition and management of non-performing loan portfolios, with downstream single-name and multi-name loan purchases documented from 2017 onwards.
• Warrant Programs Warrant instruments issued in conjunction with equity and convertible bond offerings, listed on AIM Italia and governed by published warrant regulations. Exercises (e.g., DAMA Srl warrant exercises in early 2019) increased shareholder stakes and financed Group operations.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Borgosesia SpAcoreStrategic or Co-development Partner · 23 December 2019Partial proportional demerger of CdR Advance Capital's assets in favor of Borgosesia SpA, effective December 23, 2019. The demerger transferred significant assets including investment vehicles, convertible bonds, and NPL portfolios to Borgosesia. Following the demerger, Borgosesia became the recipient of most of CdR's operating assets and liabilities. The relationship was structured as a correlated party transaction under Italian law.
• Deloitte & TouchecoreOthersStatutory auditor of CdR Advance Capital, confirmed as auditor for the company and group through multiple shareholder approvals. Deloitte provides audit services, issues opinions on share liquidation values for withdrawal rights, and certifies financial statements and related party transaction fairness opinions.
• EnVent Capital Markets LtdcoreOthersNomad (Nominated Adviser) for CdR Advance Capital on AIM Italia, providing admission services, ongoing compliance support, and market expertise for the alternative investment market.

Scale indicators8 records

Recent moves11 records

Others

• AlixPartners: Global restructuring advisory firm with deep Italian turnaround/restart practice. CdR's 'Advisory Area', CEO Mauro Girardi's Commissario Giudiziale work, and the Fine Arts Concordato homologation are the same activity performed at scale by AlixPartners.
• Alantra Partners S.A. Independent European investment bank and asset manager with M&A and debt advisory franchises serving mid-cap companies. Comparable to CdR's advisory + direct investment combination across cyclical/distressed European deals.

Direct peers

• Borgosesia S.p.A. The Italian holding/financial-services group that absorbed the bulk of CdR Advance Capital's operating assets via the December 2019 proportional spin-off. Now MTA-listed, it runs the same Investment + Advisory 'two areas' model that CdR invented, making it the closest like-for-like comparable.
• Industrial Stars of Italy (various SPACs): Series of Italian SPACs admitted to AIM/Euronext Growth Milan for capital-raising, listing and business-combination execution targeting Italian SMEs. Closest example of the 'serial vehicle / permanent capital + business combination' chassis CdR pioneered.
• Mittel S.p.A. (Gruppo MITTEL): Long-standing Italian listed investment holding company whose core activity is managing equity stakes and providing corporate/advisory services to mid-market Italian companies. Mirrors CdR's 'permanent capital + advisory' dual area on a public-market balance sheet.

Broad incumbents

• doValue S.p.A. Italian pure-play NPL servicer (formerly Credito Fondiario servicing platform) listed on the STAR segment; comparable business model ingredient (NPL industry value-chain) though focused on servicing fees rather than direct principal purchases.
• Illimity Bank S.p.A. Italian listed challenger bank created around distressed-credit and NPL servicing (Settlement, bck to business, IT platforms). Comparable because its core SDAF business and direct NPL acquisitions overlap with CdR's credit/NPL investment activity, but at vastly larger scale.
• Banca Ifis S.p.A. Italian listed bank whose 'Npl Area' is a leading servicer of distressed retail/SME credit, with ongoing portfolios purchased at discounts from Italian banks — directly comparable to CdR's NPL/single-name loan purchase programme.
• Compagnie Industriali Riunite (CIR S.p.A.): Long-established Italian listed industrial holding that combines equity investment management with subsidiary operating involvement. Provides a scaled peer benchmark for permanent-capital, equity-stake-and-advisory businesses in Italy.
• Italmobiliare S.p.A. Milanese holding listed on Euronext Milan that invests in Italian mid-cap operating companies and offers strategic/governance support — a scaled-up analogue of CdR's investment-and-advisory twin-track model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cdr-advance-capital-spa

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CdR Advance Capital