Opera-backed Vetrerie Riunite sells Technoglas to Cerve

Opera acquired Vertrerie Riunite in February 2008 for an enterprise value of €100m. It later acquired Technoglas in a transaction valued at €17m, according to Italian newspaper Gazzetta di Parma, citing Cerve chairman Giovanni Bormioli.

The acquirer will invest up to €30m in the production facilities in Austria, according to the report.

Company
Technoglas was founded in 1986 and is headquartered in Graz. It makes headlights and fog lights for vehicles and its clients include Mercedes, BMW and Volkswagen. The company employs 150 people and projects a turnover of €18m for 2018.

People
Cerve – Giovanni Bormioli (president).

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