(Finance) – Progressio Sgr, through the private equity fund Investment Progress IVhas finalized the acquisition of 100% of the capital of
Officine S. Giacomo, as part of a management buy-in operation which saw the investment, alongside the Fund, of some managers who will join Officine S. Giacomo to cover top positions.
The operation, explains a note, will be characterized by transition of the Company from entrepreneurial to managerial leadership. And in this perspective, the current shareholders, Renzo Carniel, majority shareholder and at the helm of the Company for over 30 years, and the founder Renzo Secco have entirely sold their shareholdings.
In a context of generational change, Progressio aims to support Officine S. Giacomo in an evolutionary path aimed at the managerialization of the Company and its development on international markets characterized by a strong attention to sustainability aspects, which characterizes the investments of the Progressio Investimenti IV fund.
For over 60 years Officine S. Giacomo has been involved in the development and production of small and medium-sized mechanical presses, suitable for versatile uses in numerous fields of application, including electronics, the pharmaceutical sector, the consumer world and electric mobility . Over the course of its history, the Company has produced over 16,000 presses, distributed in Italy, Europe and North America, with an export share which today represents half of the overall turnover.
The operation was financed by Cassa Centrale Banca – Credito Cooperativo Italiano supported by Banca Prealpi Sanbiagio Credito Cooperativo, the Group’s reference institution for the territory in which Officine S. Giacomo operates.
Filippo Gaggini, Managing Partner of Progressiocommented: ”Officine S. Giacomo is the second investment defined just 4 months after the launch of our new fund, Investment Progress IV. The Company clearly expresses Progressio’s investment strategy: a company that enjoys a solid reputation at an international level, which stands out for a strong characterization of its product and with significant growth potential, which will be pursued by current managerial structure enriched by new highly experienced top figures”.