Osborne Clarke advises Azimut Investments S.A. in a €100 million investment in D-Orbit, market leader in space logistics

The Azimut Group, through Azimut Investments S.A. as manager of alternative investment funds in the ‘D-Orbit’ sub-fund of ‘Azimut Direct Investments SCA-SICAV-RAIF’ fund, has completed its €110 million investment in D-Orbit S.p.A..

The transaction was divided into two phases: on the one hand, Azimut, as lead investor, subscribed to a capital increase approved by D-Orbit as part of a Series D investment round, which is still ongoing; on the other, it acquired D-Orbit shares on the secondary market from a number of selling shareholders, including Indaco Venture Partners SGR S.p.A., Como Venture S.r.l. and Spazior S.r.l..

The transaction was handled by the Alternative Investments team at Azimut Investments S.A., led by Salvatore Sberna.

Azimut's total investment therefore amounts to €110 million, confirming its confidence in the growth potential of D-Orbit and the space economy sector.

The transaction also required Golden Power authorisation from the competent authorities, given the strategic importance of the sector.
Azimut Investment S.A. was assisted by Osborne Clarke with a team composed of partners Antonio Fugaldi and Giuliano Lanzavecchia, associate Chiara Carioti and junior associate Aldo Costanzo for corporate aspects, as well as associate Fabrizio Ducci for aspects relating to the Golden Power authorisation.

D-Orbit S.p.A. was assisted by Eversheds Sutherland. The transaction also involved the company's in-house legal team.

The sellers, including Indaco Venture Partners SGR S.p.A., Como Venture S.r.l. and Spazior S.r.l., were advised by Orsingher Ortu.

In the context of Round D, Orrick advised certain shareholders of D-Orbit.