we receive e we publish the following press release from Image building.
Pasubio SpA, a leading supplier of premium leather to the automotive industry, is pleased to announce the creation of the UNICA SpA (“UNICA”) platform following the recent acquisitions of Conceria Antiba SpA from brothers Paolo and Graziano Balducci and SKIN Srl from Daniele Salassa and Arrigo Calorini. The founders of Antiba and SKIN have become shareholders of the group’s holding company, alongside PAI Partners and the Pretto family, and will invest significant financial and human resources in UNICA.
With the UNICA project, Pasubio aims to create a champion unique of its kind in terms of offering and positioning: a platform of industrial and commercial excellence designed to guarantee the prestige of Italian craftsmanship at the service of the luxury sector in all its forms, including automobiles, bags, shoes, accessories, clothing and interior furnishings.
With a particular expertise in creating customized and bespoke products, Pasubio currently produces over 1.600 SKUs, meeting the specific needs of its long-standing brand partners (such as Rolls-Royce, Bentley, Lamborghini, Porsche, Range Rover and BMW), with precision and quality. Antiba has a deep tradition in the production of calf and goat leather in the luxury sector, with clients including Hermès, Chanel and Bottega Veneta. SKIN is a key supplier of commercial services and product scouting in the fashion world, thanks to long-standing relationships with all major international fashion brands.
UNICA will offer a full range of premium services and materials, including high-quality leathers, refined fabrics such as jacquard, denim and silk, and innovative materials such as bio-based polyurethane. The group's culture, based on quality, savoir-faire and craftsmanship, will be codified and protected through the introduction of cutting-edge solutions, such as AI, thus ensuring the traditional value of Italian excellence for all partner brands in the long term.
Luca Pretto, CEO of Pasubio, said: “We are thrilled to launch UNICA and welcome Antiba and SKIN to this new platform for the luxury sector. I am confident that with our diversified and combined expertise, long-standing partnerships and shared commitment to excellence, UNICA will be well positioned to become a reference point for high-end services and materials. I look forward to working with the group and further developing this platform in the coming months.”
UNICA will be managed through vertical-specific divisions and management teams, with the former entrepreneur-founders playing a key leadership role within the group and overseeing their clients in continuity with their past work. A management committee actively involving the founders will aim to improve the overall efficiency of the group, with a focus on sustainability and material traceability, along with the reduction of development and delivery times.
Pasubio was advised by District Advisory, with legal support from Latham & Watkins for the corporate, regulatory and finance aspects of the transaction. EY-Parthenon handled the financial and commercial due diligence, STS Deloitte supervised the tax due diligence and FRM provided tax and structuring advice for the transaction. Banor Sim (through its Family Office), Bank of America, CACIB, Intesa Sanpaolo, and JP Morgan financed the transaction. All advisors assisting Pasubio were coordinated by Group CFO Cristian Filocamo and Group COO Stefano Gelsomini.
About Pasubio
Pasubio is the leading European manufacturer of high-quality leather for the premium and luxury segments of the automotive industry. Combining artisanal excellence with advanced industrial processes, Pasubio offers a complete range of products that include seat covers, dashboards, steering wheels and other applications. In 2023, Pasubio acquired Innova, extending its product portfolio with the addition of polyurethane (PU). The Group is also implementing a vertical integration project, aimed at expanding the current sewing services offering, to provide ready-to-install linings for interiors. Pasubio's main market is Europe, with a significant presence also in North America, Asia and Africa. Pasubio recorded revenues of €328 million in FY24, with an EBITDA Margin above 20%.
--------------
Laura Filosi
Image Building Benefit Society
Via Privata Maria Teresa, 11
20123 – Milan
Tel. +39 02 89011300
Cell.+39 349 1439823
Fax +39 02 89011151
mailto: [email protected]
www.imagebuilding.it
