Limonta | 1893 has signed a binding agreement for Tamburi Investment Partners S.p.A., an independent and diversified industrial group listed on the STAR segment of Borsa Italiana S.p.A., to take a 25% stake in Limonta S.p.A., partly through a share capital increase and partly through the purchase of shares. The total investment will be approximately 89 million euros.
The operation aims to support the ownership and management in the growth path of the Group - also for external lines - so that Limonta can take on the role of aggregator in the high value-added textile sector in Italy, with a view to “make system” in a sector that is still very fragmented.
Limonta, European leader in the textile sector, with an estimated turnover in 2021 of over 160 million and 850 employees, has a complete textile supply chain, which is combined with resin-coating, coating, coagulation and printing technologies, with a particular focus on the development of sustainable products. The coexistence of these two productive and technological “souls” makes it unique in the panorama of plain, jacquard and coated fabrics for clothing, accessories and furnishings. The company has developed skills, know-how and a wide range of processes and innovative technical solutions which, combined with a consolidated orientation towards ESG issues - in terms of respect and protection for the environment and responsible management of the supply chain - allow it to position itself as strategic partner of the major international luxury houses.
“We believe that T.I.P. is the ideal partner to support the owners, in the realization of the project of accelerated industrial growth of the Group” says CEO Paolo Limonta. “In fact, we have immediately shared values, strategies and, above all, a long-term vision. After more than 120 years of history we are glad to take our development further” continues CEO.
The execution of the transaction is expected by the end of 2021.
Limonta and T.I.P. have also agreed to foresee the listing of Limonta on the stock exchange in the medium term.
Read the press release