Hutton Collins seals €50m Italian deal

The mezzanine specialist's investment in Italian healthcare IT group Dedalus allowed some existing shareholders to cash out.

Private debt group Hutton Collins has invested €50 million in Italian healthcare IT business Dedalus Group through a combination of subordinated loan and minority equity.

The investment has been supplemented with €15 million from co-investors.

Florence-based Dedalus is the largest healthcare-focused IT company in Italy, generating EBITDA of €17 million on revenues of €70 million.

Hutton Collins' investment allows some existing investors in the business to cash out, as well as providing additional financial support to underpin an international expansion plans.

Sino-Italian private equity firm Mandarin Capital remains a shareholder in Dedalus following the deal.

Mauro Moretti, a partner at Hutton Collins, said in a statement: “Hutton Collins bases its investment strategies on sharing growth processes with businessmen and managers who have been able to demonstrate distinctive abilities in their particular sector. This is why we are enthusiastic about the opportunity to work alongside Giorgio Moretti and Mandarin Capital in the Dedalus development project in an anti-cyclical sector such as healthcare software, which still offers ample scope for progress.”