LBK Capital LLC Acquires Italian Soccer Club U.S. Triestina Calcio 1918

2023-07-06 20:55

TRIESTE, Italy--(BUSINESS WIRE)--Jul 6, 2023--

LBK Capital LLC (together with its affiliates, “LBK Capital” or “we”) today announced that it has acquired 100% of the shares of U.S. Triestina Calcio 1918 (“Triestina” or the “Club”).

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Source: U.S. Triestina Calcio 1918

Triestina, a historic soccer club based in Trieste within Northern Italy, was founded in 1918 and currently plays in Serie C (the third tier of Italian Soccer). Trieste is one of the 20 largest cities in Italy and is ideally located for fans and talent on the Adriatic Sea between the borders of Italy, Slovenia and Croatia. Triestina plays its home matches in the Stadio Nereo Rocco, which has capacity for more than 26,000 spectators and is one of the top-rated stadiums across all tiers of Italian Soccer.

As the new owner of Triestina, LBK plans to invest across all areas to enhance the Club’s brand, competitive positioning and overall enterprise value. LBK believes the Club’s storied history, passionate supporters and active community involvement collectively represent a valuable foundation to build from.

Ben Rosenzweig, LBK Managing Partner and incoming Chairman and President of Triestina, said:

“LBK is honored to assume ownership of Triestina and looks forward to building a winning club that makes its players, fans and partners proud. With a new management team and strengthened financial position, Triestina will be well positioned to build on its storied history and start competing at a higher level in the years to come. We also have the benefit of playing in the city of Trieste, which has all of the characteristics necessary to support a thriving sporting club. I could not be more excited about the opportunity to establish a winning culture that can drive sustained success for Triestina.”

LBK has partnered with an experienced and proven management team from top clubs throughout Europe. The team will be led by Alex Menta, who is joining as General Manager and will oversee all aspects of club operations. Mr. Menta joins Triestina from Venezia FC, where he was instrumental in its first promotion to Serie A in 19 years while operating with the second lowest budget in Serie B.

Studio Chiomenti (led by Salvo Arena, Elisa Gianni, Michele Amisano, Umberto Placanica) served as legal advisors to LBK with Studio BDL (Carlo Vitalini Sacconi) and Studio FiscalElite (Dr. Giulio Pannunzi) serving as financial and due diligence advisors.

About LBK Capital

LBK Capital is a private investment firm headquartered in Atlanta, GA, focused on making long-term investments alongside carefully selected operating partners. The firm was founded by Ben Rosenzweig, who is a Partner at Privet Fund Management LLC and an experienced public company director, having served on the board of eight publicly traded companies. Mr. Rosenzweig has spent more than a decade leading active investments and spearheading financial and operational improvements at public and private companies. He is a frequent guest lecturer on the topic of alternative investments at institutions such as the Columbia Business School and Emory University’s Goizueta School of Business.

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CONTACT: Longacre Square Partners

Greg Marose / Kate Sylvester, 646-386-0091

gmarose@longacresquare.com/ksylvester@longacresquare.com

KEYWORD: ITALY EUROPE

INDUSTRY KEYWORD: PROFESSIONAL SERVICES SOCCER BUSINESS SPORTS OTHER PROFESSIONAL SERVICES FINANCE

SOURCE: LBK Capital LLC

PUB: 07/06/2023 08:30 AM/DISC: 07/06/2023 08:29 AM

http://www.businesswire.com/news/home/20230706266922/en