Bolaffi grows in the gold sector

Bolaffi grows in the gold sector. Bolaffi Metalli Preziosi, a company specialized in the purchase and sale of investment gold authorized by the Bank of Italy, 100% controlled by Bolaffi SpA, has acquired 100% of the capital of Krysos Srl, active in the same sector with the Oregold brand, which in less in ten years it has achieved a turnover of 55 million euros (2020 budget) and a compound annual growth that has earned it the inclusion four times in the Financial Times ranking of companies with the fastest growth in Europe (FT 1000 Europe’s Fastest Growing Companies). Krysos Srl is therefore one of the main Italian operators in the purchase and sale of retail investment gold. The combined entity together with BMP in the past year would have developed a turnover of over 85 million euros. The new owner will evaluate various corporate integration options, but the two brands will certainly remain distinct and with a clear different positioning on the market.
Thus Filippo Bolaffi, managing director of Bolaffi Metalli Preziosi: «The operation is a new step in the growth and diversification path that the Bolaffi Group is carrying out, which fully includes the focus on investment gold. Now the union of BMP and Oregold makes us undisputed market leaders, without forgetting the 18.25% that Bolaffi SpA holds in Confinvest (a company listed on the Euronext Growth Milan market), a primary operator in the sector, another strategic stake in which we believe a lot for the future ».
Massimiliano Barrotta, commercial director of Oregold: «Today’s sale is a source of pride for us founding members for having concretely seen the effort made in what until recently was a simple start-up. Having been acquired by an operator of Bolaffi’s standing and being able to remain involved in an even more ambitious project in the second phase of the company’s life, it will be a great stimulus both for me and for the rest of the team to demonstrate the further potential of Oregold ” .
The major selling shareholder will remain involved in the new corporate project under the leadership of BMP and will appoint two members to the new board of directors.
In the transaction, BMP was assisted by Broletto Corporate Advisory for the financial part, by ADVANT Nctm for the legal part and by EY for the accounting-tax due diligence.