Unigas, a Padua-based company specializing in the production and marketing of burners with low polluting emissions, finalized the issue of its first 6,5 million euro minibond, with which it intends to support the development of the 2020-2027 business plan and, in particular, the completion of the expansion works of the production plants in Campodarsego (PD) and the construction of the new commercial and production headquarters in Moscow, as well as the financing of the market launch of a new generation of innovative products patented on a global level.
To support the operation Finint Bank and Veneto Sviluppo, respectively in the role of Arranger and Co-Arranger, while the NCTM law firm acted as deal legal counsel. The CIB Unigas Minibond, which closed the 2019 financial statements with a production value of approximately Euro 35 million and an Ebitda margin of 14%, was subscribed not only by Banca Finint but also by the Veneto Minibond Fund promoted and managed by the Federation Veneto delle BCC and Veneto Sviluppo SpA, Banca IFIS, Banca di Cividale, Mediocredito Trentino Alto Adige, Neafidi, Banca Valsabbina and Banco delle Tre Venezie.
the operation, reserved for professional investors only, has a duration of 7 years (until May 2027) with amortising repayment starting from May 2022 and an annual coupon of 3,50%. The proceeds deriving from the issue of the securities will be used by the Paduan company for finance the 2020-2027 business plan which provides for an increase in production capacity through the completion of the expansion works of the Campodarsego (PD) plants, functional to the assembly of the new FACILE production line, an innovative product patented on a global level and with very high technological content equipped with a data transmission system and remote monitoring, and the construction of a new sales and production facility in Moscow, which will include offices, warehouse and assembly units.
Founded in 1972 by Claudio Pancolini, CIB Unigas is based in Campodarsego (PD) and specializes in the design and assembly of burners that guarantee very low polluting emissions. In recent years, also thanks to the support of FVS SGR (private equity operator controlled by Veneto Sviluppo), the company has successfully completed the generational turnover process, which has brought Filippo and Riccardo Pancolini, sons of the founder, to the top of the management structure.
Present abroad with 3 branches, in Russia, China and the United Kingdom, the company has a strong vocation for exports where today about 90% of its turnover is achieved. The main reference markets are Russia and China, which accounted for around 2019% of sales in 60. The growth of the business volume in recent years it has been driven precisely by the Chinese market, where the Government has implemented a significant plan to reduce polluting emissions through the conversion of heating systems from coal to gas as fuel. An opportunity on which CIB Unigas has focused, thanks to its green and sustainability-oriented approach, being one of the few companies able to comply with the stringent regulations on polluting emissions imposed by the Chinese Government which must be less than 30 mg/kwh of nitrogen oxides .
“In a historic moment that is perhaps one of the most difficult and complex worldwide in our recent history – he commented Filippo Pancolini, President of CIB -, I am proud to be able to announce that our Group has strengthened its investment capacity for the strategic development of new products, patents and markets thanks to the fundamental support of Banca Finint and Veneto Sviluppo with the issue of a minibond dedicated to investments of long breath. Our family, at the head of the Group since its establishment almost 50 years ago by Eng. Claudio Pancolini, has perfected the entire generational transition for years; The possibility now opens up of developing and giving continuity to a series of projects which are fundamental for our consolidation and international growth and for this I thank all the subscribers of the minibond who have decided to embrace our industrial project”.
“We are proud – added Simone Brugnera, Head of the Minibond Area of Banca Finint – to support a company of excellence such as CIB Unigas which has embarked on a solid growth path over the years inside and outside national borders and which has focused on sustainability as a strategic driver of development. With this new operation, carried out alongside an important partner such as Veneto Sviluppo, we once again had the opportunity to concretely demonstrate trust in the entrepreneurial fabric of our country made up of excellent and resilient companies. An operation that we concluded in a particularly difficult general and economic context, demonstrating the fact that Banca Finint is alongside companies and makes its know-how available to allow them to look to the future and continue on the growth paths undertaken " .
