(Teleborsa) – Investindustriala private equity firm founded by Andrea Bonomi, has finalized an agreement to invest in the Fassi Group, an Italian engineering company and leader in the production of articulated cranes and other truck-mounted lifting equipment. Financial details of the deal were not disclosed.
Founded in 1965 by the Fassi family and based in Italy in Albino (Bergamo), the company has generated a turnover of over 470 million euros in 2023, it has approximately 1,600 employees worldwide, has a significant presence in over 80 markets internationally and operates 18 production sites in Italy, France, Sweden and Malaysia.
Through this partnership, Investindustrial and the Fassi family – which will keep one significant minority shareholding in the company, with Giovanni Fassi who will continue to serve as CEO of the company – they intend to significantly grow the company by further accelerating international expansion, product diversification and supply chain integration, we read in a statement .
“We have been extremely impressed by Fassi’s strong performance, market leading position, and reputation, as well as its growth and international expansion to date, and its focus on quality, innovation and sustainability” , commented Andrea Bonomipresidente dell’Industrial Advisory Board di Investindustrial.
focus on manufacturing
This operation strengthens Investindustrial’s track record and its focus on investing in manufacturing companies successful niche markets, which currently represent almost 70% of the capital employed by Investindustrial. These include Amalfi (food products), Bakelite (resins and moulds), CSM Ingredients (ingredient tech), Guala Closures (special closures for alcohol and beverages) and Omnia Technologies (integrated technologies for the food and beverage sector).
“I am extremely proud of the company founded by my father in the 1960s, of the management and collaborators who have contributed to its growing success – he declared Giovanni Fassi – We are excited to start this journey with Investindustrial to support Fassi’s next phase of growth, thanks to Investindustrial’s significant experience and knowledge in increasing the operational performance and geographical diversification of companies.”
Unicredit and Intesa Sanpaolo acted as financial advisors and financing banks.