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SFClub, the first professional search fund investment vehicle based in Italy and founded in 2020, continues to grow, bringing its portfolio to 27 companies. These SMEs have an average turnover of €11M and an average EBITDA of €2.3 million, reflecting a profitability exceeding 28%.
Recent transactions include Azeler (Spain); TWS Energy Controls Ltd and WF Energy Controls Pty Ltd (Australia/New Zealand); Hotek (Netherlands); Prestige Software (Spain); and, in recent months, SOS Software Service, a German company active in the value-added distribution of B2B software solutions. This deal was led by Philipp Neimann (Seqos accelerator). Another recent project is Skingevity, in the UK clinic and beauty center sector, promoted by Italian searchers Andrea Agnolio and Enrico Ghio. While not a “traditional” SF acquisition, as it is a roll-up launched from scratch, the two entrepreneurs have raised an initial amount of €5–7M and begun acquiring aesthetic clinics.
SFClub 2 has recently completed a new capital increase, welcoming 10 new high-profile partners. This will enable further portfolio expansion and a greater overall investment in the sector. Currently, SFClub holds positions in over 30 SFs across Europe, India, the United Arab Emirates, Australia, and Singapore. Across its two vehicles, its investment capacity now reaches approximately €35M.
The company recently completed its first exit with the sale of Formeds, a leading Polish brand of clean-label vitamins, at the beginning of June. This successful exit was achieved in under 30 months, with an estimated MOIC of over 3x and an IRR exceeding 50%. SFClub expects to complete at least two additional exits in the next 12 months.
