15 July 2015
A group from Vicenza operating in the custom-made furniture sector for luxury branded brands has acquired an American company ( a custom-made furniture manufacturer itself), overcoming the Chinese competitors and expanding its business to the North American market.
Finlife, a corporate finance company, acted as a financial advisor to the Italian group in Michigan, relying on the lawyer Alessio Vianello of the MDA law firm to define acquisition operations.
The MDA transaction - worth $ 2,550,000 - is a key part of the international growth strategy of the Italian group, enabling it to serve its customers through an on-site production unit.
The Group employs 55 people and achieved a 16 million Euros consolidated turnover in 2014, with a 2.3 million euros EBITDA, a net result of 1.2 million euros and a net financial position of -2, 3 million euros.
The US company achieved a turnover of $ 5 million in 2014 and has 40 employees.
Only standard components will be produced in Michigan, while added-value processes and manufacturing operations will continue to be carried out in Italy.