TrueStar Group SpA, a Milan, Italy-based international airport services operator, has received a €2.5m convertible loan from Fondo Italiano di Investimento (FII).
In a following phase, FII will make a $7.7m minority equity investment, which will bring its total commitment in the company to €10.2m.
TrueStar intends to use the proceeds from the financing to grow organically and through acquistions, in order to consolidate its market position and increase its offering of ancillary services.
Led by CEO and president Fabio Talin, the group offers a complete range of comprehensive passenger assistance services including customer care, insurance and luggage wrapping and protection services at airports.
TrueStar currently has a concession at 33 airports across 13 countries located on three continents (Italy, Spain, Poland, Turkey, Uruguay, Brazil, Argentina, Chile, Paraguay, Colombia, Peru, Singapore and USA – Miami).