Nextalia Buys Costa Edutainment for €115M

Nextalia SGR has finalized its acquisition of Costa Edutainment, a prominent Italian operator in theme parks and edutainment attractions, in a transaction valued at approximately €115 million. This strategic move sees DeA Capital Alternative Funds SGR, part of the Green Arrow Capital group, exit its investment in the company.

The deal structure includes a significant reinvestment from the founding Costa family, who will retain a 25% stake through their holding company, Ponte Ter SpA. This ensures continuity and leverages the family's deep understanding of the entertainment sector. Beppe Costa is expected to continue as the group's president, while Nextalia will appoint a new chief executive officer to lead operational management.

Costa Edutainment boasts a diverse portfolio of popular attractions across Italy and Malta. Key assets include the renowned Genoa Aquarium, the Galata Museo del Mare, the Biosfera, and the Bigo observation tower, all managed under concession from the Port Authority of Genoa. The company also operates the Cattolica Aquarium, the Livorno Aquarium, Italia in Miniatura in Rimini, and the Mediterraneo Marine Park in Malta. Furthermore, its water park division includes Aquafan in Romagna, Le Caravelle in Liguria, and Acquapark Onda Blu in Tortoreto, acquired in June 2025.

Financially, Costa Edutainment demonstrated robust performance, closing 2025 with approximately €80 million in revenue and an EBITDA of €24 million. The company reported a net profit of €12 million, with a net debt position around €90 million. This financial profile underscores the underlying value and operational strength of the edutainment group.

This acquisition marks the fourth significant ownership change for Costa Edutainment in just over a decade. Previously, DeA Capital Alternative Funds SGR had strengthened its position in March 2025. At that time, the fund CCR-Corporate Credit Recovery II held 10% and the fund Flexible Capital held 8%. Following the new agreement, DeA Capital transferred its stake to CCR II and increased Flexible Capital's holding to 30% through a €20 million capital increase. This prior transaction valued the company at an equity value of €187.5 million in September 2023 when Flexible Capital initially invested €15 million for an 8% share.

The Italian edutainment and leisure sector continues to attract private equity interest, driven by consumer demand for experiential entertainment. Companies like Costa Edutainment, with established brands and diversified offerings, represent attractive targets for growth-oriented investors. Nextalia's investment is expected to fuel further expansion and operational enhancements across the group's portfolio.