Tuesday, December 24, 2013

Fondo Italiano di Investimento backs Forgital Group with a €30M investment

Fondo Italiano di Investimento has acquired a minority stake in Forgital Group, the Vicenza-based industrial components manufacturer and systems provider for the aerospace, oil&gas and power generation sectors.

The fund led by Gabriele Cappellini has injected €30 million into the company owned by the family Spezzapria and founded in Vicenza (Italy) in 1873, which operates internationally in the production of rings and other drop-forged components of big dimensions. The company has a turnover in excess of €250 million and employes more than 1,000 staff across 17 subsidiaries around the globe.
The transformation process of the company started in 2008 with the creation, in Trento, of Fly SpA turning from components production to supplier of complex integrated systems destined to high-tech sectors, such as aerospace. The investment made by Fondo Italiano di Investimento aims to accelerate the new growth strategy of the Forgital Group.

Interviewed by tgcom24, Nadir Spezzapria, shareholder and president of Forgital Group said that entry of the Fondo Italiano di Investimento in Forgital confirms the strategic vision of the company, which among others is confirmed by the numerous multi-year contracts subscribed with primary O&M aerospace contractors for a value in excess of $2 billion, a very important target.

The investment in Forgital represents the continuation of the fund led by Gabriele Cappellini of the backing of italian SMEs, with the target to support ther growth and strengthen their national and international competitiveness. Between direct and indirect investments, nowadays are 75 the companies in the portfolio of FII for an overall turnover of €4 billion and more than 24,000 employees.