3 April 2023Place:
The shopping of Gruppo Migal continues with a triple acquisition. The Marcheno-based group, led by the Mingotti family and European leader in the engineering, design, production and processing of components in non-ferrous materials such as brass, copper and aluminum, has completed the acquisition of Pressofusione Comero and Svea Stampi, owned by the Niboli family, and of Coccoli referring to the same family.
Founded in 1992, Pressofusione Comero is active in the processing of aluminum with die-casting technology, while Svea Stampi (acquired in 2011 by the Niboli family) deals with the production of molds to be used both in the plastic and in the aluminum sectors.
The acquisition of Pressofusione Comero and Svea Stampi is part of the broad strategic project envisioned by the CEO of Migal, Luca Mingotti, aimed at expanding and strengthening the range of services offered to its customers, in particular, in aluminum die-casting, a technology with a wide applications in various sectors (e.g., low voltage electricity, pumps, etc.). In this context, the Niboli family will continue to have operational roles in the company’s management.
The acquisition of Coccoli instead strengthens the mechanical processing business. Already in September 2021 Migal had acquired TMV, a Brescia-based company that produces components in sheared and bent sheet metal.
Founded in 1983, Gruppo Migal is today one of the European leaders in the engineering, design, production and processing of components in non-ferrous materials such as brass, copper and aluminum and serves various vertical markets ranging from the water, gas and electricity sectors and includes an important customer base comprised of of blue chips of the caliber of ABB, Honeywell, , Schneider, Siemens to name a few.
With the three acquisitions, Migal continues to implement the strategic plan, developed together with Equinox since the acquisition in July 2021, aimed at expanding by external lines and technological integration in order to be able to meet the different needs of its clients. Following the acquisitions (TMV, Coccoli, Pressofusione Comero and Svea Stampi), the group's pro-forma revenues in 2022 exceeded 170 million euro, with an Ebitda of 25 million euro. This result has a solid impact, considering that no later than 2021, the date of entry of Equinox, Migal generated a turnover of around 100 million euro and an Ebitda of approximately 13 million.
The CEO of the Migal group, Luca Mingotti, commented on the acquisitions, highlighting that “..the operations carried out fit perfectly into the strategic plan drawn up together with our consultants from CP Advisors and with our financial partner Equinox. The acquisitions of TMV, Coccoli, Pressofusione Comero and Svea Stampi represent the first necessary steps aimed at expanding the range of services offered which will generate important revenue and cost synergies in the immediate future. However, we do not want to stop in this area and we are already studying some dossiers that will allow us to have an incisive presence outside the Italian and European borders, as well as a wider product differentiation".
CP Advisors, with the team led by Salvo Mazzotta and Giovanni Nucera, already alongside the Mingotti family in 2021 throughout the partnership with Equinox, assisted Migal as financial advisor in the triple acquisition. The Studio Legale Pedersoli, with Alessandro Marena and Leo Belloni, assisted Migal as legal advisor and KPMG with Lorenzo Brusa and Massimo Agnello respectively for the financial and tax due diligence. The Niboli family was assisted, for the financial and legal aspects, by Andersen, with Guido De Vecchi, Serena Quaranta, Francesco Inturri, Andrea Ferrandi and Carlo Riso, while the Coccoli family by the Maruggi studio in Brescia.