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«Innovation is the engine of growth in all sectors. In mine in particular it is essential to offer our customers – the main cosmetics brands – increasingly cutting-edge solutions combining research, sustainability, safety and aesthetics. The future of my company is increasingly focused on the environment”: with this vision Matteo Moretti, president of the family company Lumson, active in packaging for cosmetics, decided, last November, to buy back the shares of the group previously sold to the Private Equity fund Fsi.
«It was a historic moment for my family and for our company, extremely significant – continues Moretti -. The acquisition of the company’s shares from the FSI fund ensured the implementation of the long-term strategy for all the group’s stakeholders. My family has always had control of the company, but bringing the shareholding back into the sole hands of the founding family confirmed our commitment to growth, the solidity of the company and the long-term vision for the future.”
And, almost a year after the operation, the growth process undertaken in Europe and the United States continues, offering customers solutions that are increasingly in line with their needs. «From a financial point of view – explains Moretti – I am very satisfied because Lumson is on a path to significantly reduce the debt contracted for the repurchase and is proceeding in this direction quickly thanks to its significant cash generation capacity. In fact, I expect, already by the end of 2023, with the same group perimeter and without reduction in planned investments, to have a debt leverage of around 2.4 times the gross operating margin”.
The objectives of the company with a turnover of over 130 million euros are ambitious: «We want to innovate in the name of sustainability – reiterates Moretti -. To do this we must continue to invest in new professional resources to include in the workforce, in Capex for product development – we spend around 6-8 million euros per year – and, why not, maybe in a couple of years, also in aggregations in the sector. My ambition: to see Lumson increasingly play a leading role in the skincare packaging sector.”