Ilma, a company controlled by the Forlì-based investment company Orienta Capital Partners through the “Fa R Evolution” project, has acquired all the shares of Fas, a Cuneo-based company specializing in the design and production of wooden window frames. In the operation, the selling Elia family has reinvested in the group with minority shares. Lorenzo and Chiara Elia will guarantee continuity by maintaining the position of CEO of Fas for a
agreed period. The transaction was financed by Iccrea Banca and Banca Alpi Marittime (assisted by Simmons & Simmons). Ilma was assisted by Grant Thornton, which handled the financial and tax due diligence; by BModel, for the drafting of the joint Industrial Plan; by Pavia & Ansaldo for the legal aspects. The sellers were supported by Viel Consulting Group, as financial advisor, by Advant Nctm for the legal aspects and by Sistema Valore for the activity of temporary manager.
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The Fas company
Fas, based in Castellinaldo d’Alba (Cuneo), is a historic company that designs and manufactures various types of wooden and wood-aluminium windows and frames, appreciated both for their aesthetic and design characteristics and for their high level of customization. Founded in the late 1950s, as is also known and recognized for the eco-sustainability of its products and production processes. The investment in Fas is the first add-on for Ilma, a Cuneo-based company specialized in the design and production of roofs, walls and other wooden structures for traditional and green building, in the “Fa R Evolution” portfolio since August 2022. The group’s growth path, built so far mainly through internal lines, therefore continues also through external lines – as planned since the initial acquisition.
The acquisition aims to create and exploit several synergies between the two companies: both, in fact, are focused on high-quality wood products for construction and address the B2B market with highly customizable products. Furthermore, the complementarity of the offer of Fas with that of Ilma is based on the creation, by the two companies, of eco-sustainable products, both thanks to the intrinsic characteristics of the wood material and thanks to investments to reduce carbon dioxide emissions in production processes.
The “Fa R Evolution” project
With the “Fa R Evolution” project, Orienta has created an ecosystem made up of companies rich in specialized skills: in addition to innovation, technology, eco-sustainability and digital transition, the “Fa R Evolution” companies are characterized by the desire to “make the future” of bold entrepreneurs and managers, who can therefore bring and draw new stimuli in the exchange between the parties. “Fa R Evolution” already includes investments in Rockin’ 1000, Trendcolor, Bierrebi, Act Blade, Eco Insight, Contrader and Plyform and Ilma.
“In the last two years, Ilma has established itself as one of the points of reference in the wood construction sector and the acquisition of Fas allows us to complete our offer with a historic brand and an excellent product – says Lorenzo Isolabella, partner of Orienta Capital Partners -. We have ambitious plans and we will continue our growth path through acquisitions”.
“We are thrilled and deeply proud to welcome Fas into our group,” says Marco Alberani, CEO of Ilma. “Their tailor-made wood products, characterized by a strong eco-sustainability, perfectly integrate with our mission, creating a truly unique offer in the sector. This acquisition represents a significant step for us: Ilma becomes a true hub of innovation and integration. Thanks to our commitment, we have already extended our activities in the North-West and in France, with Ilma France. Now, together with Fas, we are ready to overcome new boundaries and grow even more by leveraging our desire to innovate the world of construction and green building.”
“We are proud to become part of a group with great ambitions for growth and expansion – comment Chiara and Lorenzo Elia, managing director of Fas -. For Fas this operation is a sign of corporate continuity which will allow a set of development opportunities in every area, from the technological to the innovative with exponential growth in employment.
