Nice Enters Strategic Partnership with FSI to Bolster Global Growth

Investment agreement pairs global Home & Building Management leader with top technology investment firm.

Oderzo (TV), Italy, 30^th August 2023 – Nice, a global leader in Home Management and Building Management solutions, and BeNice Holding, the primary shareholder of Nice, have entered into a binding agreement with FSI, a leading Italian technology investment firm, concerning an undisclosed capital investment in Nice.

The partnership with FSI supports the next phase of development and growth for Nice through a shared path aiming to capitalize on the strong global leadership position achieved by the company, increasing market share in different sectors and geographies, important investments in value creation to accelerate organic growth, and combining synergies from both organizations to achieve strategic objectives.

Nice, headquartered in Oderzo (TV), Italy, employees over 2.800 team members across 5 continents and reported revenues of about €800 million Euro (about $900 million USD), is a global leader in Home and Building Management solutions, with a complete range of connected and integrated products for residential, commercial, and industrial applications, serving partners in over 100 countries.

"We are delighted to have identified the right partner for Nice. This partnership better enables us to make further investments in both markets and technologies strategic to our growth, thus improving people’s quality of life and contributing to a better environment. These are the development directions in which we believe and in which we are ready to commit ourselves financially, both organically and through M&A, as we recently did with the important acquisition of Nortek Security & Control in the United States,” underlines Lauro Buoro, Founder and Chairman of Nice.

"With this investment, FSI confirms its DNA to support the most foresighted Italian entrepreneurs in creating leaders, with strong R&D and global footprint. Our track-record in the technology industry, in which we invested a billion Euro in recent years, makes FSI the right partner to support the next phase of Nice growth" says Maurizio Tamagnini, CEO of FSI.

The deal involves an investment by FSI, through a reserved capital increase and a minority stake in the company's capital. The transaction is subject to the signing of the final contractual agreements, expected by the last quarter of 2023, and the approval of the regulatory authorities.

Nice is assisted by Lazard and Legance Avvocati Associati law firms, while FSI is assisted by Ernst & Young and Bonelli Erede law firms.