Brugola, an Italian multinational manufacturer of screws for the automotive sector, has announced its return – after 34 years – of 100% ownership of the group to the Brugola family, which finalized a strategic operation to repurchase minority shares. In detail, this concerns 80% of the shares of the holding company ABF srl, owned by the two partners A. Agrati spa and Fontana Finanziaria spa.
The previous ownership of ABF srl
ABF srl, which in turn indirectly held 30% of the Brugola group, was established in March 1990 with the aim of expanding commercial activities abroad. «The buyback is strategic at this crucial moment for Brugola OEB – declares the CFO, Alessandro Galbarini -, since the group is going through a phase of constant growth. A significant increase in production capacity is expected and profitability for both the current year and 2025. We expect an increase in volumes of +15% compared to the year 2023, with a further +10% already expected for 2025. Furthermore, an increase in margins is expected, going from 9% – historical value of the last 3 years – to 13%”.
The exit of the Italian Investment Fund in 2018
In 2018, the company had already obtained the exit of the savings management company, Fondo Italiano diinvestment, which had held a stake in Brugola OEB since 2015, activated to support the opening of the US headquarters. The current operation further strengthens the intention to keep the company shares within the family. «It is with great pride and deep emotion that we announce the result of this corporate operation – declares the president, Jody Brugola -, which began last year, but which in reality represents a corporate and family objective and goal awaited for 34 years. This is a gesture that I felt the duty and desire to make in honor of my father and, even before that, of my grandfather, who dedicated passion and commitment to building this company. Obviously, we don’t intend to stop here. Brugola is always oriented towards progress and we have numerous objectives to pursue.”
The operation
«Thanks to this operation, which took place at a strategic moment, continues Brugola, we can continue to respect our expansion and growth plan, with the aim of satisfying market demand with excellent, innovative and tailor-made products for our customers. . On this occasion we would like to thank you the two historic companies that have participated as partners in recent years of the group in a fair and correct manner, giving our company the opportunity to grow and invest. At the same time, we thank all those people who created the conditions and worked for this important result.” The Brugola group was supported on the financial side and by the accounting firm Andersen with a team made up of Alessio Gambuzza, Paola Pellegrini and Matilde Fassio as Debt advisor and Maricla Pennesi, Letizia Carrara, Giovanni Gallucci and Marianna Casale for the tax aspects of structuring the operation. The legal and corporate issues were followed by the Pavia e Ansaldo firm, in the person of the lawyer Broglio.
Subscribe to L’Economia’s newsletters
Whatever it Takes by Federico Fubini
The challenges for the economy and markets in an unstable world
Europe Matters by Francesca Basso and Viviana Mazza
The Europe, the United States and Italy that count, with innovations and important decisions, but also small notable stories
One More Thing by Massimo Sideri
From the world of science and technological innovation, news that changes our lives (more than we think)
And don’t forget the newsletters
The Economy Opinions and The Economy 6pm
April 19, 2024
© ALL RIGHTS RESERVED
Tags: Brugola years ownership group returns family minority shares purchased
