FSI (“Fondo Strategico Italiano”), one of the largest European country-focused private equity funds with a growth strategy and the Moretti family announce the signing of an agreement whereby FSI is going to acquire a 35% stake in Lumson SpA (“LUMSON”).
LUMSON is the Italian leader in the primary cosmetics packaging sector, with an estimated turnover of approximately 100 million euros in 2018.
The company has nearly 550 employees, two production sites in Italy, and commercial branches in the USA, France, Spain and Germany.
FSI will invest in LUMSON by acquiring a direct stake from LUMSON’s holding company MPM SpA and by subscribing a capital increase and a convertible bond for a total consideration of about Euro 70 million.
At completion of the transaction, LUMSON will be cash positive and financially able to pursue an ambitious growth plan.
The company’s Board of Directors, comprised of seven members, will include: Cav. Remo Moretti, Honorary President, Matteo Moretti, President, Paolo Valsecchi, Managing Director, Giovanni Broggiato, Vice President and CFO of Lumson, Marco Tugnolo, Investment Director of FSI, and Carlo Bozotti, Industrial Partner of FSI and former CEO of STMicroelectronics, as well as an independent board member to be appointed in the near future.