OME Group consists of O.M.E. Metallurgica Erbese S.r.l., founded by Vincenzo Farina in 1949 in Erba near Como, Stampinox S.r.l., acquired in 1975 and based in Merone, also near Como, and the subsidiary Hexagonal S.r.l., acquired in 1985 and based in Civitade Camuno near Brescia.
The Group produces bolts, fasteners and special pieces for customized applications designed to met specific needs in various sectors which require components of high quality and reliability for demanding conditions of stress, temperature, wear and corrosion.
The principal market is the Energy sector, mainly Oil & Gas, Power Generation and Nuclear.
The Group’s employees total 285, with 168 working for OME at the Erba plant, 27 for Hexagonal at the Civitade Camuno plant (all blue collar as the company is managed by OME), while there are 90 employees at the Stampinox plant in Merone.
Origination
Sale process launched by the Farina family through a beauty contest managed by a financial M&A boutique.
Transaction structure
IGI acquired OME through a leveraged buy-in, together with the new Managing Director, Andrea Zuccarino and the reinvestment of the Farina family in a minority stake.
Investment Rationale
The position of technical and product leadership that OME boasts in its reference sector, thanks to the appreciated and recognized quality and reliability of its products, the consolidated relationship with its customers and Group’s ability to offer customized solutions based on customer needs.
The solid know-how within the Group relating to all the most critical areas of the business and the internal implementation of all the main processing and surface treatments, essential to ensure the highest quality and reliability of the finished product.
The important technical skills gained in many years of presence on the market which means OME is seen as a partner able to advise the customer on product improvements and on developing the most suitable solution, in terms of design, material, type of coating, the customer’s needs and the type of application.
The numerous and important sector certifications obtained over the years, which testify the quality and reliability of the Group’s products and processes and which represent an important competitive advantage and a significant barrier to entry.
Customers of primary standing at global level represented by world leaders in the Energy sector.
Value Creation Strategy
Develop OME’s potential through a process of organizational strengthening, freeing the Group from family management and equipping it with a managerial structure.
Integrate the three operating companies of the Group, keeping the brands distinct but merging the various functions that are currently duplicated or tripled, obtaining cost synergies and improving overall efficiency.
Improve the financial management of the Group, in particular the management of working capital and inventory, as well as upgrading the internal reporting system to IGI standards.
Strengthen its international presence and penetrate markets that are only marginally served today, leveraging the positioning of OME and the important certifications obtained over the years, equipping the Group with an adequate commercial structure and increasing proactivity towards customers.
Support M&A activity and the analysis of potential add-ons.
Value Realization
Exit through trade sale or secondary buyout.