M-Cube Secures €28m Refinancing Deal With UniCredit and Banco BPM
2026-09-15 · via AV Magazine
M-Cube has closed a €28m refinancing agreement with UniCredit and Banco BPM, giving the digital signage integrator fresh capital to fund expansion and acquisitions across Europe. For a company that builds its business on deploying and servicing screens for large retail and enterprise clients, the deal matters because it signals how M-Cube plans to grow: through consolidation rather than just organic sales.
According to the company, the new facility replaces its existing bond loan, which is being fully repaid as part of the agreement. That should lower M-Cube's ongoing financing costs and simplify its balance sheet, though the announcement does not disclose the terms of the old bond or the interest rate on the new facility.
The package has two parts. A revolving credit facility is earmarked for working capital to support day-to-day organic growth, the kind of spending that keeps installation and service operations running as client contracts scale up. Separately, the company says it has set aside specific capital expenditure lines dedicated to mergers and acquisitions. That structure suggests M-Cube is planning a more active M&A push rather than treating acquisitions as opportunistic one-offs.
M-Cube frames the deal as a way to consolidate its international footprint and strengthen its position in what it calls the digital retail solutions sector, expanding geographic coverage and service capacity for large international clients. The announcement does not name specific acquisition targets or countries, so it is not yet clear where the next deals will land or what size of integrator M-Cube might be looking at.
Group chief executive Gianluca Pasquali said the resources will help the company accelerate both organic growth and targeted acquisitions. UniCredit's corporate north-east manager, Silvia Bernardi, said the bank sees M-Cube as having a clear strategic vision and strong potential for international development.
For operators and vendors who work with M-Cube, or compete against it for large retail signage contracts, this refinancing points to a period of faster expansion ahead, likely through bolt-on acquisitions of smaller regional integrators rather than purely organic sales growth. It also puts M-Cube in the same consolidation game as other large signage and AV integration groups across Europe that have used acquisitions to build scale and win larger multinational retail accounts.
The deal was finalised with legal support from Pedersoli & Gattai and Deloitte Legal. The announcement does not specify a timeline for any acquisitions or give a breakdown of how much of the €28m is allocated to the revolving credit facility versus the M&A capital expenditure lines.
The announcement in full
Reproduced from AV Magazine for reference. Digital Signage Magazine did not write the text below.
By AV Magazine in Business , Europe September 14, 2026 0
The refinancing operation carried out in partnership with UniCredit and Banco BPM strengthens the integrator’s financial structure and will support M&A operations across Europe.
M-Cube has completed a €28m refinancing agreement with UniCredit and Banco BPM.
The new facility provides the digital signage integrator with dedicated resources to support both organic growth and future M&A activity across Europe.
The agreement also allows the company to optimise its financial structure, reducing the burden of costs through the full repayment of its existing bond loan.
The package includes a revolving credit facility to support the working capital needed for organic growth. Specific capital expenditure lines have also been set aside to support M&A operations.
The financial structure will allow M-Cube to consolidate its international presence and strengthen its role in the digital retail solutions sector, expanding its expertise, geographic coverage and service capacity for major international clients.
The operation was finalised with legal assistance from Pedersoli & Gattai and Deloitte Legal.
Group chief executive Gianluca Pasquali said: “With these new resources, we intend to further strengthen our position, accelerating both organic growth and new targeted acquisitions.”
UniCredit’s corporate north-east manager, Silvia Bernardi, added: “We recognised in M-Cube a company with a clear strategic vision and strong potential for international development, so we are therefore particularly pleased to have provided the group with the financial support needed to accelerate its growth path.”