Smart Living Expansion
Nice secures €370 million financing to fuel global smart living solutions growth.
Anonymous
Nice S.p.A., an Italian maker of Smart Living and home automation products, has closed a €370 million financing deal to fund new acquisitions and expand its global footprint. The transaction, structured as a Senior Facilities Agreement, was backed by a syndicate of 11 major banks, according to PR Newswire.
Founder and Chairman Lauro Buoro said the deal shows "the confidence shown by the banking system confirms the solidity of our business model and our future prospects." The company employs more than 2,000 people and operates in over 100 countries across 14 production plants and 13 R&D centers.
Three Banks Lead an 11-Institution Syndicate
BNP Paribas, Crédit Agricole Corporate & Investment Bank, and Mediobanca served as global coordinators for the deal. Eight more institutions joined the syndicate, including Deutsche Bank, Intesa Sanpaolo, UniCredit, Monte dei Paschi di Siena, and state-backed Cassa Depositi e Prestiti. Banco BPM acted as the agent bank, according to PR Newswire.
The broad mix of lenders — from Italian state institutions to global investment banks — signals strong institutional confidence in Nice's growth story. Legal firm Legance Avvocati Associati advised Nice, while Gianni & Origoni represented the lenders, ADVFN reported.
From Gate Motors to a Global Smart Home Empire
Nice was founded in 1993 by Lauro Buoro in Oderzo, Italy, originally making gate automation hardware. The company delisted from the Italian Stock Exchange in 2019 to pursue faster, more flexible growth as a private firm. Its biggest leap came in October 2021, when it paid $285 million to acquire Nortek Security & Control from Melrose PLC, gaining major U.S. brands like 2GIG and Elan, according to PR Newswire.
Since 2018, Nice has spent roughly €400 million on seven acquisitions. In late 2024, it bought a majority stake in Valcucine, a luxury Italian kitchen designer — a sign it is pushing "Smart Living" beyond automation into lifestyle design. The company posted pro-forma revenue of €773 million in 2022, a 40.7% jump year over year.
Fresh Capital to Target AI, Energy, and North America
A large portion of the €370 million is set aside for "completing future strategic acquisitions," PR Newswire reported. Industry observers expect Nice to target AI-driven security firms or energy management software developers to strengthen its Yubii Home Pro platform. Expansion in Latin America — including a new hub in Limeira, Brazil — and the U.S. remains a top priority.
The deal also refinances existing debt on better terms, cutting the cost of capital following Nice's improved credit profile. CEO Juan B. Mogollon, appointed in June 2024 specifically to oversee global integration, will now lead the next phase of the industrial plan funded by this new credit facility.
Growth Ambitions Carry Real Integration Risks
Not everyone sees the deal as risk-free. Rapid acquisition-led growth has tripped up companies before, especially when merging brands with different technologies and cultures. The 2021 Nortek deal brought valuable U.S. scale, but integrating legacy brands into a single Smart Living ecosystem is an ongoing challenge, according to ADVFN.
Nice's backers argue that Mogollon's appointment was designed precisely to tackle those "operational efficiency" risks. With FSI — Italy's strategic investment fund — also holding a stake after injecting €100 million in 2023, Nice carries both private and public-sector pressure to deliver on its ambitious plan.
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