Fondo Italiano's Elco Group buys PCB Ramear
Elco Group, an Italian printed circuit board producer backed by Fondo Italiano di Investimento, has acquired Dutch firm PCB Ramaer.
The acquisition was supported by financing provided by Banco Popolare di Ancona.
Elco Group has more than doubled its turnover since the investment from Fondo Italiano di Investimento in late 2011, designed to support the organic and acquisitive growth of the firm. The GP committed around €5m in exchange for a minority stake.
The acquisition will expand Elco Group's footprint in northern Europe. Both companies will continue to operate under the existing brands. The expanded group expects to report a turnover of around €45m and employs around 450 staff across Italy, France, Spain, Holland and China. Clients include Siemens and Finmeccanica.
Company
Founded in 1961 and based in Helmond, PCB Ramaer manufactures printed circuit boards. The firm has 100 members of staff and a turnover of around €20m.
People
Gabriele Cappellini is CEO of Fondo Italiano di Investimento.
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