Friuli Veneto Sviluppo backs CIB Unigas

The GP deployed capital from its €50m Fondo Sviluppo PMI, which targets SMEs based across the north-east of Italy, operating in the industrial, consumer and business support services sectors with turnovers of between €10–180m.

CIB Unigas will use the fresh capital to launch a new line of gas burners, build a production facility in Russia, consolidate its market position in Italy and boost its international expansion.

Company
Founded in 1972 and based in Campodarsego, near Padua, CIB Unigas manufactures gas and fuel burners. The company generated revenues of €33m in 2017, of which 85% came from outside Italy. It expects to reach a turnover of €40m in 2018.

The business sells its products in 60 countries worldwide and employs 200 staff.

People
Friuli Veneto Sviluppo – Fabrizio Spagna (president).
CIB Unigas – Claudio Pancolini (president).

Advisers
Equity – Studio Legale NCTM (legal); Baker Tilly Revisa (financial due diligence).

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• Topics
• Expansion
• Southern Europe
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• Baker Tilly