25.01.2024

New owner for Fassi

London, UK, based international investment firm Investindustrial Group has acquired a 70 percent stake in the Italian loader crane manufacturer Fassi Gru from the Fassi family.

The acquisition has been made through the group’s Luxembourg based subsidiary Elevation Investment Opportunities, operated under the Investindustrial VII fund.

The company says that the primary objective of its investment is to “garner fresh resources to bolster Fassi Gru's global standing”. Building on Fassi’s growth over the past few years in North America and Asia, as well as ongoing expansion in Europe.

The remaining 30 percent holding in the company will be retained by the Fassi family, with Giovanni Fassi continuing to serve as chief executive. The financial details of the transaction have not been disclosed. In 2023, Fassi had revenues of €470 million euros, with 85 percent of sales generated outside Italy. Based in Albino - Bergamo, the company employs 1,600 and operates 18 production facilities located in Italy, France, Sweden, and Malaysia.

The acquisition follows repeated rumours in the past of financial investors taking part of the company, none of which came to anything or were ever confirmed.
70 percent of Investindustrial's portfolio is in manufacturing most of it associated with the food, cosmetics industries.

Giovanni Fassi said: “I am extremely proud of the business my father founded in the 1960s and the management team and employees who have contributed to its ever growing success. We are excited about partnering with Investindustrial to support Fassi’s next phase of growth, which will leverage Investindustrial’s significant expertise and knowledge of improving companies’ operational performance and geographical presence.”

“Fassi and Investindustrial’s values are completely aligned given the common heritage of investing in and growing family-owned industrial businesses with a strong culture and focus on sustainability. We look forward to working with the team to realise our combined vision and create exciting opportunities.”

Investindustrial’s chairman Andrea Bonomi added: “Investindustrial continues to be the partner of choice of Italian, family-owned, high-quality companies whose entrepreneurs want to bring them to the next level of growth. We have been extremely impressed with Fassi – its strong performance and market-leading position and reputation, its growth and international expansion to date, and its focus on quality, innovation and sustainability. All these factors are supported by a strong management team and culture, and are all characteristics that we look for in the companies we invest in.”

“We are delighted to have the opportunity to invest in Fassi. This transaction demonstrates how Investindustrial’s industrially driven approach, operational focus and international footprint are distinctive factors valued by entrepreneurs and were instrumental in convincing the Fassi family to partner with Investindustrial. Together, we have a vision to create the absolute leader in the global lifting equipment industry.”