The company – Who is Galileo?
In 30 years of operation, Galileo Network, a subsidiary of Kauri Holding, has established itself as a trusted leader in the Italian financial guarantee market, providing software solutions and services for financial intermediaries and credit consortia (Confidi). Galileo software facilitates intermediaries to provide and guarantee loans to fuel growth for SME companies across Italy.
The need for investment – challenges in leadership succession
Despite its success and long-term vision, Galileo faced a critical juncture when parent company Kauri Holdings decided to divest its interests. The owners were nearing retirement and had no clear succession plan, meaning Galileo needed to seek new investment avenues to ensure its continued growth.
Enter Upliift – the right solution at the right time
Permanent equity provider Upliift entered the scene at just the right time. Intrigued by an email he received explaining the Upliift difference, Galileo’s CEO, Andrea Gelfi, contacted the permanent equity provider’s team in Italy.
Gelfi was particularly impressed with Upliift’s emphasis on building personal relationships from the outset. Coupled with its collaborative approach, desire to find solutions to questions and transparency in its processes and goals for acquisition, Upliift quickly earned the trust of Gelfi and his senior team.
Andrea Gelfi, CEO of Galileo Network: “We felt we could do something special together. Upliift was interested in more than just the company and its numbers. There was a real human factor where we built personal relationships and trust with each other along every step of the journey.”
While other forms of investment look to exit in just a few years, Upliift’s model is different. Its permanent equity approach is about achieving a strong return and maximum growth for the business in the long term. Unlike private equity and venture capital, permanent equity has no investment horizon. And this is what mattered to Galileo. It wanted a partner that shared its vision and commitment to long-term growth through innovation and operational excellence.
Andrea Gelfi, CEO of Galileo Network: “Our future would not be possible with VC funding. We needed a partner that shared our long-term aspirations – and we have this with Upliift.”
Upliift made the potentially complex acquisition process very simple. It was prepared to close in just nine weeks but was happy to adapt to a pace that Galileo was comfortable with. It took a little over six months from the initial conversations to closing the deal – fast for businesses in Italy, says Gelfi.
Post-Acquisition
With Galileo’s future now secure, there are assurances around delivery and staff. Galileo continues to close sales deals, while its 75 staff are assured of continued employment and growth. The opportunities presented by the acquisition have also energised the team.
Andrea Gelfi, CEO of Galileo Network: “Upliift shared our long-term vision, which is a real benefit to staff. They feel safe in their roles; we know we have a long path together. This is important for stability and internal relationships in the company.”
The future
Galileo is looking to the future and is planning to offer increasingly innovative services. Upliift’s acquisition has secured Galileo’s future so it can continue its commitment to meeting the evolving needs of its clients and driving sustained growth over the long term. The investment capital and availability of M&A expertise from Upliift has enabled the company to make further acquisitions, further strengthening their product offering to its customers.
