AGB - Alban Giacomo SpA, based in Romano d'Ezzelino (VI-Italy), Italian leader in the sector of hardware systems for doors, windows and shutters, signed a binding agreement for the purchase of the entire share capital of the company Bonaiti Serrature SpA, based in Calolziocorte (LC-Italy), active in the design, production and sale of locking systems for internal and external doors.
The acquisition will allow AGB to consolidate its presence nationally and strengthen it in Europe, an area in which Bonaiti Serrature has an important presence. AGB will also have a complementary range of magnetic locks and other innovative solutions of particular interest for the world of interior design. The integration of the Bonaiti range into its product portfolio and the consequent synergy will strengthen AGB’s leadership in the sector.
AGB Chairman, Giacomo Alban, said:
"We are very satisfied with the conclusion of this operation. The acquisition of a family and historical company such as Bonaiti Serrature, which has been designing and manufacturing a wide range of locking systems for doors since 1936, fits perfectly with the philosophy of our company and the strategic plan that we are improving. It allows us to increase our presence in some segments of the Italian markets and foreign markets in which Bonaiti holds a significant and consolidated market share".
Maurizio Crippa, Chairman of Bonaiti Serrature SpA, added:
"The sale of the company to such an important and solid company as AGB is a source of great satisfaction: it represents a unique opportunity for Bonaiti Serrature to grow further, becoming part of an industrial reality of excellence characterized by high standards of technological and organizational innovation. These aspects confirm AGB's will and ability to continue supporting the development plan launched a few years ago by Bonaiti Serrature, through the enhancement of its ideas and products and with the maintenance of the people currently employed".
Bonaiti Serrature closed the 2020 financial year with a turnover of over 9 million euros, with an EBITDA of 1.4 million euros and a positive net financial position. The current workforce is 60 employees.
The completion of the transfer is expected in mid-April, with the complete takeover of AGB in the strategic and business management of Bonaiti Serrature.