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The companies will equally split an 83% stake in Italy’s leading agritech hub, acquiring it from the investment platform Nextalia. BF Agricola will retain a 15% stake.
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The deal will support Diagram’s investments in new products and solutions for both public and private sectors, and its expansion into new geographical areas.
Roma, 23 dicember, 2024 –CDP Equity (CDPE), a subsidiary of the Cassa Depositi e Prestiti Group, and Trilantic Europe, a leading pan-European private equity investor focused on the mid-market, have acquired a majority stake in Diagram Group, an Italian agritech company.
CDPE and Trilantic Europe each acquired a 41.6% stake in the company – totaling 83% of the share capital – from the investment platform Nextalia, which had owned Diagram since 2022. BF Agricola, part of the BF Group and active in the agri-industrial sector, has retained a 15% stake through a reinvestment, down from its original 20%.
Based in Emilia-Romagna, Diagram is a leading provider of precision agriculture services, technological solutions, and professional software applications for the agricultural sector, serving farmers, food processing companies, banks, insurance companies, and public institutions. The company’s client portfolio covers over 2 million hectares in Italy and over 500,000 hectares abroad, with more than 350 employees and over 450 collaborators across multiple operational locations in Italy and the UK.
Since its founding in 2017, Diagram has grown exponentially, achieving significant results through a strategic aggregation plan and a unique go-to-market strategy, driven by partnerships with key players in the Italian ecosystem. The investment from CDP Equity and Trilantic Europe will be crucial in solidifying Diagram’s position as a leading agritech platform in Europe, while also diversifying and strengthening its range of products and solutions. The two firms will also support Diagram’s expansion into national and international public and private markets through organic growth and M&A activities.
The agreement comes at a pivotal time for the agricultural sector, which is receiving increasing public support through the European Commission’s National Recovery and Resilience Plan (PNRR), and growing interest in precision agriculture solutions designed to increase productivity and reduce costs.
Dario Scannapieco, CEO and General Manager of CDP, stated:
“This transaction marks a key milestone for CDP in supporting both the agricultural and digital sectors: Diagram has quickly become a leader in these fields, and we aim to support its growth both organically and through consolidation in a highly fragmented market. Diagram is poised to become a key player in the Mattei Plan, the Italian government’s strategy to boost investments in Africa.”
Eugenio Preve, Partner at Trilantic Europe, said:
“We are pleased to have the opportunity to support Diagram, a recognized leader in agritech, in the next chapter of its journey. Trilantic Europe has a proven track record of partnering with ambitious management teams, helping them accelerate growth and pursue M&A opportunities in highly fragmented markets. This investment is a concrete example of our commitment to supporting European companies with strong industrial capabilities as they enter new development phases and international expansion. Moreover, this marks the third investment by Trilantic Europe VI in Italy, emphasizing the country’s strategic role as a key market and reinforcing our strong confidence in the Italian market and its centrality to our investment strategy.”
Federico Vecchioni, CEO of BF, said:
“The BF Group continues to support, through transactions like this one, the development of services and technological solutions that promote sustainability and innovation in the agri-industrial sector in Italy and emerging countries, also investing in human capital training.”
Francesco Canzonieri, CEO of Nextalia, commented:
“We are proud of the path Diagram has taken under Nextalia’s guidance, which has led the Group to become a benchmark in the Italian and European agritech market. The transaction marks the first exit for the Nextalia Private Equity fund, delivering excellent returns for our investors and confirming a solid value creation project based on a strong industrial rationale and proactive support from Nextalia to help develop the companies in our portfolio. We look forward with confidence to Diagram’s future growth under the leadership of its new shareholders and the excellent top management team that has created value alongside us.”
Roberto Mancini, CEO of Diagram Group, added:
“I would like to thank all the Nextalia team for their support. We look forward to working with CDP Equity, Trilantic Europe, and BF as we begin the next chapter of our growth journey. We are committed to expanding the range of services we offer and increasing our geographical presence, in line with our clear ambition to become a European leader in agritech.”
CDP Equity and Trilantic Europe were advised by Vitale, Pedersoli Gattai, EY, Bain & Company, White & Case, Foglia & Partners, and Di Tanno Associati.
Nextalia and Diagram were advised by Intesa Sanpaolo (through the Corporate Finance Mid Cap unit of the IMI Corporate & Investment Banking Division), Deloitte, Legance, Latham & Watkins, Tremonti Romagnoli Piccardi e Associati, and Orrick, Herrington & Sutcliffe for UK matters, as well as ERM.
The BF group was advised by Esiodo s.t.a.p.a.