Fondo Italiano injects €12m into Sira Group
Government-backed vehicle Fondo Italiano di Investimento has backed steel, aluminium and die-cast radiator producer Sira Group SpA with €12m in exchange for a minority stake.
The capital injection will continue the company's acquisitive and organic growth. The management team has identified acquisition opportunities in the market and begun negotiations.
The transaction marks Fondo Italiano's 17th investment since its launch in 2010.
Debt
No debt is involved in the transaction.
Company
Founded in 1959 by the Gruppioni family, Sira Group SpA produces radiators for heating and operates aluminium pressure die-casting from plants in Italy, China, Romania and San Marino. The company employs around 800 staff and has a turnover of €46m.
People
Gabriele Cappellini is CEO of Fondo Italiano.
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