An Innovative Financial Boutique Operating Around The World

We Are Aestas.


Aestas is an independent financial boutique based in Rome. The company is represented by high quality professionals capable of providing capital markets and corporate finance advisory services both locally and internationally in areas such as M&A, restructuring and recapitalization, IPOs, and private placements.
  • STRATEGIC FINANCIAL ADVISORY

    Our Corporate Finance Team helps structure complex transactions across the globe. We provide advice on a full range of transactions, including:

    • Corporate debt restructuring
    • Corporate turnaround
    • NPL valuation and portfolio management
    • Pre-bankruptcy and insolvency strategy with bespoke financial arrangements with creditors, banks and the remaining stakeholders
    • Appraisal of structured products

    Working with Aestas takes 5 Steps

    • 1
      Deal origination

      Aestas draws upon its access to a unique network for idea sourcing and timely insight into situations as they develop.
      Prioritize to:

      • Meet criteria
      • Informational edge
      • Favorable risk/reward
      • Hypothetical capital structure
      • Hedging Strategy
    • 2
      Position Structuring

      • Asset analysis with the support of external advisors.
      • Investment decision aimed at seeking the best risk/reward tradeoff.
      • Size positions based on the level of confidence and the magnitude of tail.
      • Risk Require a significant return premium for illiquid positions.
    • 3
      Research Modelling and Deal Structure

      • Analyze industry and competitive landscape.
      • Prepare detailed financial model and assess valuation framework.
      • Collaborateand composequestions for due diligence.
      • Complete management calls/visits; conduct field research and channel checks; consult with industry contacts.
      • Assess the range of possible acquisition price.
      • Emphasize downside risk.
    • 4
      Deal Structure

      • Convergence on acquisition price
      • Investment through dedicated capital increase.
    • 5
      Risk Management

      • Ensure an appropriate liquidity profile of the broader portfolio and limit exposureto highly illiquid positions.
      • Balance a bottom-up centric strategy with a top-down assessment of overall risk.
      • The process is intended to concentrate the portfolio on idiosyncratic risk and mitigate unintended beta exposures even with derivatives.

      Our Clients, Our Mission

      • Maintain an agile, high-expertise organization (currently made of 10 professional)
      • Focus solely on complex corporate finance and capital markets transactions
      • Assist our Clients in achieving their middle-long term objectives with a strategic perspective
      • Establish a trusted and long-lasting business relationship with the Client

      VALUES

      • Respect
      • Achievement
      • Industry expertise
      • Integrity

      ADVANTAGES

      • Innovative
      • Vision & tactical ability
      • Proactivity
      • Quick delivery

      PHILOSOPHY

      • Lateral thinking
      • Team culture
      • Data/output quality
      • Long-term vision

      Why Aestas should be your choice.

      Extensive network

      Managers of Aestas have a long-standing career in the investment banking industry and a broad network in the banking sector, with the most important and well recognized international law firms and among the most important consulting companies.

      High skilled management team

      The management complex situations like the management of participation or troubled assets, is entrusted to a highly experienced team with a proven track record and personal credibility. Aestas has the right managers to approach, define, structure and execute every complex deal.

      Alignment of interest

      Aestas has adopted a compensation scheme for its managers that allows a perfect alignment of interests.

      Execution capability

      The analysis of any potential deal requires a blend of expertise (accounting, legal, fiscal, etc…). The managers have all professional skills needed to manage in-house the highest number of these profiles.

      Extracting Hidden Value

      The assets in which aestas invests are complex and require high experience and business acumen. Combining tailor made financial solutions, the management experience and a different time horizon, aestas is able to maximize the hidden value of any asset.

      Light cost structure

      A very lean and variable cost structure has been defined. Most of the deal profiles are internally evaluated and managed. Only a restricted and selected number of topics are outsourced – e.g., legal. This approach allows Aestas to keep fixed costs low and to achieve cost savings for the Client.

      Our Team, Your Team

      This is who we are, this is where we come from.
      • Giulio
        Sapelli

        President
        Read Info

        Giulio is an economist, historian and business executive. He was full professor of Economic History at the University of Milan, where he also taught political economy.

        He has worked with research, training and consultancy tasks at Olivetti and Eni. From 1996 to 2002 he was Board Member of Eni. From 2000 to 2001 he was Government Advisor of the Monte dei Paschi di Siena Foundation. From 2002 to 2009 he was Board Member of Unicredit Banca d’Impresa. Since 2002 he has been a member of the World Petroleum Council and since 2003 he has been a member of the OECD’s International Non-Profit Board.

        On 3 December 2018 he was appointed Vice- President of the Banca Popolare di Bari Banking Group,on the resolution of the relevant Board of Directors.

      • Domenico
        Fredella

        Chief Executive Officer

        Read Info

        Domenico Fredella holds a degree in Economics and specializes in Digital Technologies and Net Economy.
        He is an expert in Renewable Energy and Energy Efficiency having held operational positions for about 20 years in companies in the Photovoltaic and Wind Power sector and in power generation with Singas from Pyrogasification. He has held fiduciary positions within the Chamber of Deputies and participated in the drafting of various Proposed Laws.
        He was Senior Advisor to Methorios S.p.a. and consultant on Startup and Technology Development issues.
         
        He has served the State as an Officer of the Carabinieri Corps.
        He is a Cavaliere della Repubblica.

      • Tommaso
        Marchiorello

        Partner
        Read Info

        Tommaso manages major hospitality brand his business is focused on real estate assetts between europe and latin america .

      • Fabio
        Palumbo

        Partner
        Read Info

        Fabio boasts a broad experience in investment banking due to his work in primary financial institutions around the world. After serving as commander in the Italian Armed Forces, he became a Manager at Swiss Bank Corporation (UBS) and then joined Robert Fleming & Co. (J.P. Morgan) as a Director in the Italian team.

        Fabio advised Italian and international groups as well as state-owned enterprises across Europe, Latin America and Asia Pacific. His work allowed him to gain access to some of the main decision- makers in these regions, including executives of large International corporate and financial groups and senior government officials.

        Fabio holds a degree in Economics and Business Administration from the Sapienza University of Rome, a master in marketing at Berkley and a master in Financial Management at Harvard.

        Track Record

        Our successes throughout the years
        • Management of a private equity fund including a total asset of €600 mln, underwritten by Macif and Matmut
        • Support for the increase of the floating shares
        • Advisor for listing on AIM Italia
        • Advisor for listing on AIM Italia
        • Advisor for listing on AIM Italia
        • Advisor for listing on AIM Italia
        • Advisor for listing on Marchè Libre
        • Advisor for the sale of industrial activities to BOSCH
        • Advisor for the business planning
        • Advisor for listing on Marchè Libre
        • Advisor for the sale of two environmental services companies
        • Advisor for the sale of WISCO SpA
        • Advisor for the listing
        • Capital contribution enabling Imvest’s listing on MAC
        • Support for the acquisition of a competitor
        • Finalization of a 4.9% capital increase reserved to Veneto Banca
        • Advisor for listing on MAC
        • Evaluation of Magnaghi S.p.A. and Salver S.p.A.
        • Advisor to Poligrafici Printing for its listing on Aim Italia
        • Evaluation and disposal of Visiant Galyleo
        • Accounting update to comply with Italian Law (231) on behalf of Cassa Depositi e Prestiti
        • Evaluation of Endemol Italia Holding S.p.A. for IPO
        • Financed 0,5% of BNL acquisition
        • Advisor for Strategic Planning and M&A activity
        • Placed structured bond to investors
        • Evaluation and sale of Trafomec to Cape Natixis
        • Advised DADA for disposal of own shares to institutional investors
        • Advised Dada for 6,3% acquisition
        • Advisor for shareholders restructuring
        • Evaluation and disposal of BAT
        • Strategic and Financial Advisor
        • Evaluation of AIR P TV Development AB for contribution in kind
        • Advisor of Cordea Savills for the acquisition of a real estate portfolio
        • Financial advisor for setting up SOGEDIS and Pomezia Servizi’s business plan
        • Implemented strategic plan
        • Advisor for structuring a real estate loan
        • Evaluation of Skymax S.p.A.
        • Advised So.ge.pa. (Finmeccanica Group) for brand evaluation of AT&D and disposal of the company
        • Private placement to institutional investors
        • Advisor for the renegotiation of a bank overdraft
        • Strategic and Financial Advisor
        • Advisor for the business planning
        • Evaluation and disposal of Punto Informatico to Edizioni Master
        • Evaluation and disposal of Ig Technology
        • Advisor for setting up retirement plan of FINMECCANICA top management
        • Advisor for listing on MAC
        • Advisor for listing on MAC
        • Sale of a 3% stake to Banca Etruria

          Selected Past Experiences

          The Firm supports local and international Small and Medium Enterprises (SMEs) in their growth plans and turnaround processes, relying on a team of seasoned professionals with 25 years of average experience in corporate finance, commercial and investment banking, and strategic advisory for both public and private clients.

            Events and Publications

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              Aestas S.p.A.
              Sede Operativa: Via Alberico II 35Rome (RM) 00193 ITALY
              Sede Legale: Via Pietro Tacchini 32Rome (RM) 00197 ITALY
              +39 06 2348 4001 |
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