Law firm Withers Bergman LLP recently tapped special counsel Corrado Manuali to be head of its Italian desk. Manuali, who will be based in the Withers Bergman New York headquarters, will advise all clients - both wealthy families and companies operating in the U.S. - that are looking to expand into Italy. He comes to Withers Bergman from Kranjac Tripodi & Partners LLP.

Mergers & Acquisitions caught up with Manuali on the heels of his being hired.

What is the current state of M&A in Italy?

There's continuing inbound work. In 2014, a lot of wealthy families and corporations - especially in the fashion and construction industries - would like to expand into the U.S. The market in Italy is down, but from we've seen it in the past 8 months, its increasing. Exports are up in Italy as well. Its keeping Italy alive notwithstanding that there's a very strong Euro. With the political situation the way it was - they were focused on nonsense - Italy is now going through a number of positive changes in the legal and political structure which will help enormously in generating inbound work for dealmakers. Politicians are realizing more and more that they need to focus on unemployment and labor costs, and that is what's going to change. Those are the things that will help Italy attract more inbound investment. We expect more foreigners coming into Italy over the next two years and maybe then the fourth largest economy in Europe will rebound and see some light.

How can PE firms in Italy increase value from existing portfolios?

The success of Brunello Cucinelli SpA will hopefully convince other Italian companies to list in Milan. In December, Moncler, the Italian maker of quilted polyester jackets, became the biggest IPO in Italy since Enel Green Power SpA listed in November 2010, providing a further example of renewed investor appetite. Some of the companies out there are in need of cash and the Milan Stock Market has a lot of opportunity and potential. There are a couple of funds remaining active, including Rome-based investment firm the Sorgente Group.

What are you focused on at Withers Bergman?

I'm concentrated on inbound M&A and helping Italian companies become more sophisticated and expand in the U.S. I specialize in cross border transactions and helping them understand, not only as a lawyer per se, but as a counselor and adviser, understand the new environment that they're facing. Sometimes its easy, but sometimes it's not. From a legal point of view, the structuring of deals and due diligence process are similar in that they're all part of the execution and could be very similar to the Anglo Saxon structure of doing deals. I help them understand the cultural differences before the acquisition, what they're getting into and anticipate the difficulties and challenges of what lies ahead.