Self Groups one of the main companies in Italy is a manufacturer of thermoforming molds for plastic materials, has finalized the agreement to acquire total control of Avantech a leading company in the United States in the design of rotational molds in the plastic sector, and thus expands its business overseas.
The operation, with an expected total value of close to 8 million euros, was also possible thanks to the contribution of FRIUL FILIERE spa, the finance company of the Friuli Venezia Giulia Region, which contributed with a total investment of 1.5 million. The acquisition is part of Self Group’s medium-long term strategy, aimed at continuous growth both organically and externally, creating one of the largest groups in the sector which today can count on an aggregate turnover of approximately 14 million euro.
In the last 2 years, Self Group has embarked on a process of renewing its machinery, spending more than 2 million euros in the purchase of specific equipment for processing large moulds. Thanks to this investment it was therefore possible to double production, which went from about 450 pieces of equipment to about 950 per year.
Following the intervention, the group will be able to count on economies of scale and synergies between the company’s historic plant in Rivignano Teor (UD) and the new US headquarters in Baxter (Minnesota), which occupy a total area of 8,300 square meters, employing 83 highly specialized resources.
Avantech’s contribution will be essential to increase Self Group’s business on the international front, which already sees the company present in 29 countries globally, including the United States, Italy and France, to date the main reference markets which together represent over 50% of the order turnover. The presence of a Group office in the United States will also allow Self Group to exploit the numerous opportunities guaranteed by a market in which the demand for plastic-derived products is around 17 billion euros and where the quality and finish of the molds Italians is generally appreciated and recognized.
The aggregation takes place in a period of great development for both companies. On the financial front, Self Group, with a budget of 6 million euros in 2023, in fact closed 2022 with a turnover of 5.2 million euros, up 15.5% compared to 2021 and with a CAGR of 13, 5% from 2020. Avantech, active exclusively in the US market, achieved revenues of 9 million euros last year compared to 7.7 million in the previous year and a CAGR of 7.5% from 2020.
“The synergistic potential between the two companies is remarkable” says Andrea Zonta, CEO of the group. “We, as Self Group, consolidate our presence in North America and create a pole for Made in USA Thermoforming, at the same time we bring Avantech’s technological know-how on the construction of molds for the rotational sector to Europe”.
“We are happy to have made an important contribution to an operation with a strong strategic and symbolic value, which sees a large Italian company enter the US market, thus expanding its development prospects and creating important synergies in terms of production and know-how ”, commented the President of Friulia Federica Saganti.
“Friulia will support Self Group’s development plan both financially and managerially, with the aim of strengthening the group nationally and internationally”.
Selfgroups – Self Group is a leading Italian company recognized at European and North American level in the design and manufacture of large-sized thermoforming moulds. Self Group operates in various sectors such as automotive, packaging, construction, furniture, architecture, design, medical, energy, leisure products.
Friulia SpA – Friulia is the regional finance company of Friuli Venezia Giulia established in 1967. With a net worth of around 700 million euros, it has been the reference equity partner for 50 years for companies interested in investing in the Region. The company operates by supporting business development operations in the area while at the same time promoting shareholding continuity. The guaranteed operations cone, at the same time, a competitive cost and an “intangible” return linked to the development and enhancement of companies in Friuli Venezia Giulia. Friulia operates in the Private Equity sector through the acquisition of minority stakes in the risk capital of regional companies by providing investing companies with dedicated professionals capable of accompanying the development of companies in many areas, from development on foreign markets to complex management of the generational transition. To date, Friulia has invested over 200 million euros in 90 investing companies and is implementing numerous other services for SMEs such as money & coaching, minibonds and tools for business relaunch. Friulia is also the parent company of companies of regional strategic interest, to which it provides holding, coordination and support services.