Investindustrial hires former Clessidra chief exec

Maurizio Bottinelli has joined as a senior principal as the firm continues to invest its €2bn sixth fund.

Southern-Europe focused private equity house Investindustrial has appointed former Clessidra chief executive Maurizio Bottinelli as a senior principal.

Bottinelli, who spent nearly ten-years at Italy-based Clessidra, first as a partner, then head of the investment team and finally a six-month stint as chief executive, was previously a partner at Apax Partners.

“On behalf of the leadership team, I am delighted to welcome Maurizio to Investindustrial,” Andrea Bonomi, managing principal and chairman of the industrial advisory board at Investindustrial, said in a statement.

“He brings a long-standing investment experience and [his] deep knowledge of the Southern European market is impressive and we look forward to working closely with him.”

The firm also promoted Roberto Ardagna to senior principal.

Bottinelli became CEO at Clessidra in January 2016 following the untimely death of the firm’s founder, president and CEO Claudio Sposito, after a short illness. He left Clessidra last summer following the acquisition of the firm by Italmobiliare, the holding company of the Pesenti family, in a deal valuing the firm at around €20 million, as reported by Private Equity International.

He was replaced by Piero Alonzo, formerly vice chairman of the board, while his board seat was taken over by Mario Fera.

Investindustrial is currently investing its sixth fund which it closed on its €2 billion hard-cap in February 2016.

The firm focuses on European mid-market businesses headquartered in Italy, Spain, Portugal or Switzerland, but can make investments outside of this region, as it did with UK-headquartered car company Aston Martin.

In August last year the firm hired Carlo Privitera as partner in New York to lead the group’s portfolio company digitisation efforts.