Share Price


Engineering is a leading specialist provider of IT services, software development and digital platforms

  • Overview
  • Overview
  • Investment DateMay 2020
  • Lead InvestorNB Renaissance
  • RegionEurope
  • SectorTechnology/ IT
  • Percent of Fair Value2%
  • Key Theme
    Long-Term Secular Growth
    Low Cyclicality
  • Visit WebsiteEngineering
Value of Investment
Italian-based provider of systems integration, consulting and outsourcing services
Company Description

Investment Thesis

  • Leading technology company in Italy
  • Attractive IT services market with secular growth from digital transformation
  • Ability to continue to participate in growth
  • Proven management team and sponsor


Investment Overview


In 2016, the founder of the company Michele Cinaglia, NB Renaissance Partners and others, launched a tender offer on the entire share capital of Engineering, successfully de-listing the company. Engineering is headquartered in Rome, Italy, and is one of the main players in the field of digital transformation of public and private organisations, offering a range of innovative platforms for the main market segments. The company’s innovative solutions focus on business areas where digitalisations is having the biggest impact, including digital finance, smart government and e-health, augmented city, smart energy utilities and others.

During the next four years of ownership, revenue and EBITDA both grew by an 11% CAGR. Engineering also increased full-time employees by approximately 3,000 and completed 19 acquisitions in Italy and abroad.

In 2020, NB Renaissance and Bain Capital agreed to acquire a controlling stake in Engineering to support the next phase of the company’s growth. The Manager found this an attractive opportunity to continue to participate in the company’s growth.


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