Human Company, 350 million industrial plan

Injection of fresh capital for Human Company, a company specialised in outdoor tourism present in Tuscany, Veneto and Lazio. With a capital increase of €120 million and through a preferred equity transaction, Hines, flanked by Apollo, and Clessidra have entered with a minority stake in the capital of HU Holding, a newco set up by the Human Company group. Under the 2025-2029 business plan, Human Company will have resources of over EUR 350 million, of which about EUR 250 million will be financed by the preferred equity transaction and by a loan contracted with a banking pool with UniCredit as agent bank and global coordinator together with Bnl Bnp Paribas, Banco Bpm, Intesa Sanpaolo, Banca Mps and Amco, in addition to the group's cash flow. HU Holding closed 2024 with revenue of EUR 161m and an expected EBITDA of EUR 47m.

Resources that will be used to consolidate and strengthen the position of Human Company, which will also be able to count on Hines' experience and expertise in real estate, urban development and construction, while Clessidra will provide the financial, managerial and organisational know-how to achieve the objectives of the business plan. "This partnership represents Hines' first investment in open-air tourism, a sector that we consider to have high growth potential in Europe," explains Mario Abbadessa, Senior managing director, Head of transactions Europe and Country head Hines Italy. This is also Clessidra's debut in the world of open-air hospitality. "We are entering a new market segment supported by long-term structural macro trends," adds Marco Carotenuto, managing director of Clessidra. The partnership with Hines, flanked by Apollo, guarantees a mix of skills that we believe can strengthen Human Company". Samuele Cappelletti, partner Apollo, speaks of "a strategic operation in a rapidly expanding sector. We recognise the solid growth prospects of both the company and Open Air'.

The new resources will be used for the Hu Eraclea village project, an open-air village to be built a few kilometres from Venice in which more than 180 million will be invested. Inauguration is scheduled for the 2027 season. It will be a greenfield project where a large 5-star resort will be built with about 3,000 pitches for mobile homes and camper vans designed to cater for Northern European tourists, primarily Germans and Dutch, who represent the largest share of the clientele. The village will be developed over an area of 100 hectares, will have a nature area, a large water park, areas for common services including a theatre, play and educational areas, and more than five multifunctional sports facilities, while the catering will follow the model of the "Central Market", another Human Company project, i.e. involving restaurateurs, traders, and artisans from the local food & beverage sector. The facility will have a potential of 1.2 million presences per year. According to the business plan, an economic impact of about 400 million is expected in the first three years, while the staff employed, both direct and indirect, will involve 600 workers. "The completion of this operation marks a fundamental step for the future of our group," recalls Marta Cardini, shareholder and member of the Human Company board.

Group that has a second project in the pipeline, this time in Tuscany in Cavriglia, in the province of Arezzo. "It will be a resort dedicated to sport with tennis courts, padel, areas and courses for other disciplines as well as a 21-hole golf course," anticipates Domenico Mondano, general manager of Human Company. This resort will be relatively smaller and will have a potential of about 500,000 presences per year.