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Cromaplast S.p.a. and Iamet S.r.l. have concluded an agreement to join forces and create a pole of excellence in the metal and plastic molding, chrome plating and painting activities for the automotive sector.
In the deal, which was completed the past December 14th, Iamet acquired a majority stake in the capital of Cromaplast, with the aim of a progressive integration of the business.
Thanks to this transaction the group accounts today a Value of Production of around € 100 million and five production plants located in Italy, consolidating as a supplier with high technological competence and reliability in quality for the main European and global automotive groups.
Iamet, which is also active in the sector of small metal parts for high fashion (leather goods and clothing), strengthens its presence in the automotive sector, making available to its customers overall one of the most complete and up-to-date technology portfolios available on the market.
Raffaella Culpo and Stefano Tecchio will continue to maintain their current roles as CEO and General Manager of Cromaplast; the production hub of Valdagno, with its two plants, will have a strategic role in the growth of the automotive projects of the new group. Giuseppe Toia, CEO of Iamet, will act as President of the board of directors of Cromaplast.
"With this transaction we will ensure growth and continuity for Cromaplast by integrating into a group that will allow us to serve our customers with the necessary investments and development. The automotive market is becoming more and more selective, and Cromaplast has already equipped itself with the technologies necessary to ensure both the quality and environmental impact standards required today, expecting to continue pursuing all the latest innovations available in these areas" said Stefano Tecchio, shareholder and general manager of Cromaplast S.p.a.
According to Giuseppe Toia, CEO of Iamet, "Cromaplast represents the ideal partner to expand our activities in the automotive sector, strengthening the good positioning already achieved by Iamet with the cold metal stamping. I am sure that the inclusion of Stefano Tecchio and Raffaella Culpo from Cromaplast in the management structure of the Group will allow us to achieve a size scale crucial today to operate on the international markets”.
Cromaplast was assisted by Marco Polo Advisor as financial advisor with Filippo Rozzanigo, Endri Dobi and Samuele Maranzana, and for legal aspects by Squire Patton Boggs with Ian Tully, Daniela Sabelli, Francescopaolo Lauro and Francesco Cieri.
Iamet was assisted for financial aspects by Swiss Merchant Corporation SA, a Swiss group specialized in private equity investments and M&A transactions with a team composed of Vittorio Croci (Director) and Francesca Chiarella (Associate), and for legal aspects by LCA Studio Legale, with a team composed of Umberto Piattelli, Paolo Vitaloni, Sofia Caruso for the acquisition and by Davide Valli and Caterina Gatto for the financing of the transaction, which was provided by Banca Intesa assisted by Orrick Law Firm, with a team composed of partner Marina Balzano, associate Leopoldo Esposito and trainee Valentina Bombino.