Cosulich-Mannina, new shot: Trasteel buys the Italian leader of steel pipes
Trasteel, a Swiss leading firm in the steel trading and transformation (50% owned by Giuseppe Mannina, 37% by Cosulich Group and 13% by the CEO Gianfranco Imperato), has acquired Profilmec Group
Lugano – Trasteel, a Swiss leading firm in the steel trading and transformation (50% owned by Giuseppe Mannina, 37% by Cosulich Group and 13% by the CEO Gianfranco Imperato), has acquired Profilmec Group, alongside Profilmec’s longstanding minority shareholder and CEO Walter Talpo, who will reinvest his shares in the transaction.
Profilmec was founded in 1961 by Mr Giuseppe Bottanelli, who passed away in January 2022, and is a leading Italian manufacturer of steel pipes with applications in a wide range of industries across Europe. Profilmec is headquartered in Turin and employs over 400 workers.
Its main production facilities are two state-of-the-art manufacturing sites in Racconigi (close to Turin) in the North-West of Italy and in Sesto al Reghena (close to Pordenone) in the North-East of the country, representing a total area of 450,000 square meters (out of which 140,000 sqm covered) and a production capacity of 350,000 tons per year.
The welded pipes are produced out of pickled and oiled, cold rolled, galvanized and aluminized coils and have applications in the most varied marketable goods sectors, ranging from the automotive to the bicycle and motorcycle industry, to home and garden furnishings, as well as camping equipment, nursery items, toys, household goods, to the production of radiators, appliances for the building sector, and much more.
The Group is also owner of Rolm, an engineering company founded in 1973 specialized in the production and maintenance of pipe production equipment. All current managers as well as in general all the staff of Profilmec Group will retain their roles under the new ownership: “The entrance of Trasteel represents the best guarantee of continuity of the job that we started back in the Sixties with our founder and historical President Giuseppe Bottanelli. Trasteel, we believe, will allow also our Group to further develop our internationalization. I wish to thank all Trasteel staff, in particular Gianfranco Imperato, Federico Guiducci, Gabriele Nordio and their legal advisors for the professional and punctual cooperation allowing the deal to be closed ” said Walter Talpo, Chairman & CEO of Profilmec.
Gianfranco Imperato, CEO of Trasteel, added: “We are very proud to have gained control of one historical brand of the European pipe business. This acquisition fits perfectly into our strategic plan of becoming a diversified European steel transformer and trader, bringing our overall traded and transformed tonnage to more than 1.5 mio mtons per year. We would like to express our gratitude to the management of Profilmec, including Profilmec's CFO Mr Trevisiol, as well as the Bottanelli family for their availability and open mind, allowing this important deal to be closed.”
The acquisition was financed by a pool of banks comprised of Crédit Agricole Italia, UniCredit, BNL-BNP Paribas and MPS Capital Services in the role of mandate lead arrangers, with Crédit Agricole Italia acting as Loan Agent. Trasteel was advised on the deal by GPD law and tax firm Gemma, Provaggi, De Andrè with Ernst & Young, Studio Cidda Grondona and Studio Bava performing the due diligence. Walter Talpo was advised by Studio Legale Elexi and the pool of banks by Simmons & Simmons.
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