IGI SGR S.p.A., through the funds IGI Investimenti Cinque and IGI Investimenti Cinque Parallel, has acquired 100% of FI.MO.TEC. S.p.A.
Established in 1933, FI.MO.TEC. is based in Cologno Monzese and operates worldwide through its four subsidiaries in India, the USA, Germany and France, generating a turnover of over € 22 million per year.
FI.MO.TEC. is a market leader in the design, production and sales of cable fixing systems and accessories mainly for the telecommunications and broadcasting sectors. The company’s leading position and constant innovation in products and services will ensure its place among the industrial players involved in the Broadband 2020 development plan which foresees the changeover from coaxial cable to optical fiber with an upgrade of the entire related infrastructure. The existing 60,000 towers in Italy will need to be recabled using around 6 million fixing systems. Similar programs to increase capacity with a technological upgrade are foreseen throughout Europe and in the USA.
Matteo Cirla, Managing Partner of IGI SGR says, “We have invested in FI.MO.TEC. with the aim of sustaining development both internally and externally. We are targeting new markets with high potential, as well as broadening the product range with systems for sectors similar to the traditional areas.”
This operation is the second carried out by the funds IGI Investimenti Cinque and IGI Investimenti Cinque Parallel, following the co-investment with Chequers Capital in Gruppo Rollon.