Bacciardi Partners has assisted Civitanavi Systems S.p.A., a company listed on the EURONEXT MILAN segment of the Italian Stock Exchange, in the acquisition of 30% stake in the share capital of PV-Labs Ltd, a company incorporated under Canadian law and operating in the province of Ontario,  leader in the design and production of gyro-stabilized gimbals and advanced ISR&T (Intelligence Surveillance Reconnaissance and Targeting) imaging systems.

Bacciardi Partners acted with a team composed by managing partner Lorenzo Bacciardi, LL.M. and associate Rebecca Milandri.

Specifically, Bacciardi Partners assisted Civitanavi Systems S.p.A. in the entire course of the acquisition process, with particular reference to:

  1. the negotiation and finalization of the preliminary binding acquisition offer;
  2. the Legal Due Diligence activities;
  3. the activities necessary to carry out the Golden Power formalities with the Canadian Government in accordance with the Investment Canada Act;
  4. the negotiation and finalization of the Share Subscription Agreement;
  5. the negotiation and finalization of the Shareholders’ Agreement with the founding shareholders of PV-Labs Ltd.

Bacciardi Partners was supported by BCF Business Law for the legal-contractual and corporate aspects under Canadian law related to the acquisition transaction. BCF Business Law operated with a team composed by partner Gilles Seguin and associate Jean-Christophe Imbeau.

Civitanavi Systems S.p.A. is a leading player in the design, development and production of inertial navigation and stabilization systems. Civitanavi Systems’ products are used in the aerospace, mining, oil & gas, naval, industrial and defence sectors in the space, land, naval and aeronautical fields.

PV-Labs Ltd is a leading developer and manufacturer of advanced imaging solutions, specialized in the design and development of turnkey ISR&T (Intelligence Surveillance Reconnaissance and Targeting) imaging systems. PV-Labs operates in the surveillance, public safety, geospatial, aviation and entertainment sectors.

The acquisition transaction is aimed at creating a technological and commercial synergy between Civitanavi Systems S.p.A. and PV-Labs Ltd to extend the technical know-how and integrate the product range of Civitanavi Systems, as well as extend the channels and market segments in which Civitanavi Systems operates.

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Civitanavi Systems pre-closing press release

Civitanavi System post-closing press release