Kaleon is a company linked to the Borromeo family, listed on Euronext Growth Milan and Euronext Growth Paris. It specializes in managing and enhancing major artistic, natural and museum heritage assets for tourism purposes. Kaleon has completed the acquisition of an 80% stake in Navigazione Isole Borromee Lago Maggiore, a passenger water transport company operating on Lake Maggiore. The acquired company operates a fleet of 5 boats and holds 5 water taxi licenses.
LCA advised Kaleon on the transaction with a team made up of Edoardo Calcaterra, Carlo Filippo Bertero and Alessandro Iustulin on corporate matters. Leonardo de Vecchi and Francesco D’Amore conducted the due diligence on administrative matters, and Giacomo Falsetta handled shipping matters.
The current management will keep a 20% stake and will be entitled to variable consideration (an earn-out) if certain targets are met. Kaleon will hold a call option on the remaining 20% stake, with the aim of ultimately acquiring full ownership of the company.
With this transaction, Kaleon enters the lake transport sector, after restaurants, hospitality and leisure activities. The new business adds a service directly connected to the experience of visiting the Islands and the shores of Lake Maggiore. It also lets Kaleon offer tour operators integrated packages that combine transport and visits.
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