(Finance) – Wisequity Va fund managed by Wise Equity SGR, has acquired 100% of the share capital of Flanges International (holding of Hertecant Flanges) by Belgian investors (PMV, Down2Earth Capital), through its subsidiary Special Flanges.
Wise Equity specializes in the management of closed-end Private Equity funds that invest in small and medium-sized companies with a focus on Italy. Special Flanges is a leading Italian company in the forging of special components. Hertecant Flanges is a Belgian company active in forging and machining.
The operation – we read in a note – is based onhigh complementarity of Special Flanges and Hertecant Flanges, both in terms of product range and geographical coverage, and will allow the new group to become European leader in its market nichewith an aggregate turnover exceeding 100 million euros, of which over 80% is generated outside Italy.
“This operation is an important step for the development of an undisputed leading group in its market niche and with a strong international presence – he commented Paolo ZucchiInvestment Manager of Wise Equity – The two companies integrate perfectly and we believe that the group has solid foundations to continue the growth path thanks also to the generation of value deriving from potential synergies between the two businesses“.