Cazoo, the British based online car retailer which is expanding in the European market, acquired brumbrum, Italy’s leading online used car retail and subscription platform. The legal advisor of the Milan based scale-up was Orrick, Herrington & Sutcliffe LLP which advised on the transaction with a team led by Partner Attilio Mazzilli and composed of Associate Ginevra Rebecchini and Angelo Timpanaro. Freshfields Bruckhaus Deringer e PwC TLS’s teams were also part of the operation that was worth 80 million euros.
Based in Milan, brumbrum was founded in 2016 by Francesco Banfi and since then it has grown to a team of over 180 employees. In its 40,000 square metre vehicle preparation site in Reggio Emilia, it refurbishes over 15,000 cars every year. Founded in 2018 by British entrepreneur Alex Chesterman, Cazoo managed to conquer a big slice of the European market in a very short time, getting to sell more than 50,000 vehicles in the countries where they offer their services. Listed on the New York Stock Exhange, the company is now expanding in the European market. After the United Kingdom, France and Germany, Cazoo will soon launch its platform in Italy too.
Attilio Mazzilli, brumbrum’s main advisor, has been an Orrick’s Partner since 2015 and he is one of the Italian leading experts in the field of private equity and venture capital. As Head of the Italian Tech Group, he advised major companies like Banca Sella Holding, Cerba Healthcare and Bending Spoons. He also was a key player in Scalapay’s unicorn round that turned the fintech in the first Italian start up valued at over 1 billion dollars.