Milan, 21 April 2015 – IGI SGR S.p.A. and NEIP III have acquired Vimec S.r.l., the Italian leader and global player in the design and production of stair lifts, platforms lifts and elevators providing solutions for the accessibility of public and private premises.

 With this operation, IGI SGR, through the funds IGI Investimenti Cinque and IGI Investimenti Cinque Parallel, holds 67% of the capital of Vimec, while NEIP III, the investment company managed by Finint & Partners (the international financial group), has a stake of 32%. The remaining 1% is retained by the Managing Director of Vimec, Giuseppe Lupo, who will continue in his current position.

Vimec, founded in 1980, has its head offices and production site in Luzzara (Reggio Emilia) and operates worldwide through its subsidiaries in Spain, France, Great Britain and Poland as well as through its distribution network in 60 countries including Russia, Germany, East Europe, Australia, New Zealand, South Africa, Latin America and China. With more than 160 employees, an extensive commercial network and widespread service centres, Vimec has quickly achieved its position as the leading operator in Italy and among the top international players with a turnover of around € 50 million and 60% exports in 2014.

 The current operation is the third by the funds IGI Investimenti Cinque and Parallel, following the acquisition of 100% of the capital of FI.MO.TEC. S.p.A. (leader in fixing systems for the telecommunications and broadcasting sectors) and the acquisition of a majority stake in Rollon S.p.A. (producer of linear motion systems) together with Chequers Capital. As such, IGI SGR has invested 50% of IGI Investimenti Cinque and forecasts completing the investment of the fund with two other operations focused on developing of Italian firms of excellence before launching the fund-raising for IGI Investimenti Sei.

The Vimec acquisition is the fifth for NEIP III, following investments in Lafert S.p.A. (a motor manufacturer based in San Donà di Piave, Venice), Nuova Giungas S.r.l. (world-leading producer of insulating joints for the oil & gas industry based near Modena), Forno D’Asolo S.p.A. (producer and distributor of frozen cake products based in Maser, Treviso) and ABL S.r.l (manufacturer of machines for fresh fruit processing).

 Angelo Mastrandrea, Investment Director of IGI SGR and Chairman of Vimec says, “We strongly desired the investment in Vimec, intending to boost development through its management and further acquisitions. We aim to reinforce the presence of the group in strategic markets by opening new branches and to penetrate countries with strong growth potential. Particular attention will be given to the development of the service business and to increasing the product range.

 Domenico Tonussi, Managing Director of Finint & Partners stresses that “Vimec represents a typical investment for NEIP III. It is a company with high technical expertise which successfully operates in a growing market with a strong focus on in increasing exports”. “With Vimec,” he concludes, “we add another excellent Italian firm to our portfolio, confirming our investment strategy of providing financial andmanagerial resources to companies which are leaders in their markets and can substantially increase their growth.

The acquisition of Vimec was financed by Banca Popolare dell’Emilia Romagna (head of bank pool), Banco Popolare and GE Capital Interbanca. The legal advisors for IGI SGR and NEIP III were Chiomenti, Simmons & Simmons, DLA Piper and Di Tanno e Associati. Ernst & Young provided transaction and business services, Goetz Partners acted as strategic advisors and Golder were the regulatory and environment consultants.