Supply@ME Capital PLC (LON:SYME) has named Italian private equity group Quadrivio as the partner in its first inventory project.
Quadrivio is an alternative investment firm with a focus on Private Equity, Private Debt and Managed Accounts, said Supply@Me.
The firm has cumulatively raised and managed more than €2bn from both Italian and international institutional investors, added the standard market-listed company.
The Quadrivio fund "Industry 4.0" alongside SYME's shareholders 1AF2 and The AvantGarde Group will now invest in and capitalise a Captive Bank and become a cornerstone investor in Supply@Me's wider Inventory funding programmes.
Supply@Me added that it will not be a shareholder in the bank and has no costs associated with the transaction, though it will be the main commercial beneficiary of the acquisition.
The timetable of completing the acquisition of the bank and authorisation are on schedule for the first quarter of 2021.
In a statement, Alessandro Zamboni, Supply@Me’s chief executive, said: “Quadrivio Group is the right Financial Partner for this highly innovative banking project. Leveraging the vast client network that the Industry 4.0 fund has internationally, the impact of the Captive Bank is expected to be transformational for Supply@ME and its access to Inventory funding capital."