Giuliano Gnutti in command of the Gnutti Cirillo group. The operation took place via Leveraged Buy-Out and was possible thanks to the intervention of a pool of banks led by ISanpaolo agreement, who acted as Global Coordinator and Arranger and Agent Bank of the loan. The other lenders that participated are: Banco BPM, BPER, MPS Capital Services, Cassa Centrale Banca and BCC of Brescia. Instead, Anima Alternative supported the acquisition by structuring and disbursing a long-term subordinated loan.
In detail, the Gnutti Cirillo company was founded 70 years ago by the Gnutti family and deals with hot forging and mechanical processing of brass and other non-ferrous metals, with applications in the world of industry and plumbing and heating.
The turnover stable per year of approx 200 million of euros and a EBITDA consolidated by approx 30 million, the Group is based in Lumezzane, in the province of Brescia and is made up of various operating companies, in particular Gnutti Cirillo SpA and Tiemme Raccorderie SpA which are active globally also through subsidiaries in the USA and in various European countries.
Furthermore, in 2020 the Group achieved more than 60% of its turnover abroad and, together with its 660 employees, has demonstrated a remarkable resilience and ability to adapt to the new context marked by the Covid-19 pandemic, continuing its path of growth. And with satisfaction that Intesa Sanpaolo, after theacquisition of Ubi, successfully continues its activity in favor of the Brescian medium-sized enterprise.
“The operation completed today consolidates the corporate governance and the coherence of the industrial development lines of our Group – he declared Giuliano Gnutti, Chairman and Chief Executive Officer of Gnutti Cirillo SpA – laying the foundations for further strengthening of our presence on international markets. We thank all our financial partners who, with professionalism and reliability, have supported us in setting up and finalizing a complex operation. I am sure that, with the support of my son Alberto (who has been by my side for years now) and of all the collaborators, our group will be up to the new challenges that await it".
Mauro Micillo, Chief of IMI Corporate and Investment Banking Division of Intesa Sanpaolo underlined the banking group's commitment to supporting local SMEs and that "being alongside entrepreneurs who have led their businesses to excel in the reference sector is meant to be a further stimulus to support the growth that underlies the economic recovery of our country".
“The Gnutti group – he commented Philippe Minard, Chief Executive Officer of Anima Alternative – represents an Italian excellence in its sector and we are very pleased to support Giuliano Gnutti in this new phase of development of the group. Our financing in support of the Gnutti group clearly exemplifies Anima Alternative's vocation to support entrepreneurs or investors in their business with flexible instruments".
