On the sell side is the fund IGI Investimenti Cinque managed by IGI Private Equity which, together with Finint, had bought 100% of the company in 2015 with the aim of relaunching product development and promoting international expansion. In 2017 Vimec forecasts a turnover of € 50 million, a strong rise compared to 2016, selling its range of products manufactured in Luzzara in 50 different countries.
With this operation, IGI Private Equity successfully completes the first divestment of its most recent fund, under management since 2013, which to date has invested 70% of its capital commitment by Italian and foreign investors in the buyouts of Vimec , Rollon, Fi.Mo.Tec and Bracchi.
“We are extremely pleased with this transaction which sees the transfer of a leading Italian company to an international industrial group which will continue the initiatives for development and growth, alongside the management of Vimec led by Giuseppe Lupo, whom we thank for the excellent work done together,” says Angelo Mastrandrea, Partner of IGI and the manager in charge of the operation.
Matteo Cirla, Managing Director of IGI, further added, “The sale of Vimec shows the robustness of IGI’s investment strategy which focuses on industrial firms representing excellence in Italian manufacturing. We are very proud of this first divestment which will generate a premium return for our investors who in 2013 put their trust in us to turn around the fund previously managed by Arca Impresa Gestioni . It also gives us a springboard to start fundraising in the next few months for the new fund IGI Investimenti Sei, which will also be dedicated to outstanding Italian manufacturing companies exporting worldwide.”