Integrator M-Cube has secured new banking facilities that strengthen its capacity to finance international expansion in a consolidating European digital signage market.
To Fund Growth and M&A: M-Cube Secures €28m Refinancing
The digital signage integrator M-Cube has completed a €28m refinancing with Unicredit and Banco BPM. The funding will repay its existing bond loan while providing separate facilities for working capital and targeted acquisitions.
M-Cube said the transaction would lower its financing costs and optimize the group’s financial structure. It also gives the company dedicated acquisition funding, keeping future deals separate from day-to-day operating capital.
Facilities separate working capital and M&A
The package also contains a revolving credit facility for working capital linked to organic growth in Italy and M-Cube’s international markets. It also sets aside separate capital expenditure lines for future M&A transactions.
Unicredit served as agent bank for the refinancing, according to Radiocor. Its acquisition facilities are intended to support deals that M-Cube plans to complete in the near term, although the company has not named potential targets.
“With these new resources, we intend to further strengthen our position, accelerating both organic growth and new targeted acquisitions,” M-Cube group chief executive Gianluca Pasquali said in the company’s announcement.
M-Cube said that HLD, its reference shareholder, was actively involved in structuring the transaction. Pedersoli & Gattai advised M-Cube, while Deloitte Legal worked with the lenders.
Funding supports a pan-European platform
The refinancing follows a period of operational restructuring and growth. M-Cube generated approximately €70m in revenue during 2025, recording high single-digit growth and what Pasquali described as a good level of profitability in an invidis interview published in January.
During 2025, the company reorganised its subsidiaries into a unified structure, removed duplicated roles and redirected investment towards commercial functions. It has also been investing in DXP One, its proprietary cloud-based software platform, alongside its integration and content capabilities. The refinancing announcement does not allocate funding to specific software or retail media projects.
M-Cube placed fourth in the 2026 invidis ranking of EMEA digital signage integrators, behind Econocom Group, Trison and Cancom. The ranking highlighted M-Cube as one of the companies expanding pan-European platforms through acquisitions while achieving above-average growth.
The new facilities give M-Cube additional capacity to participate in that consolidation while funding the working capital required for its existing expansion program.