The historic foundry that serves luxury automotive brands such as Ferrari and Lamborghini has ended up in the sights of Sici Sgr and Next Holding
by Silvia Pieraccini
The historic foundry that serves luxury automotive brands such as Ferrari and Lamborghini has ended up in the sights of Sici Sgr and Next Holding
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It produces die-cast aluminum components for the Ferraris, but also for the Lamborghinis, Maseratis and luxury automotive in general. Now the Umbrian 3M, historic foundry based in San Giustino (Perugia), 18 million in 2020 turnover with 20% gross operating margin (EBITDA) and 60 employees, opens the capital to two funds with the aim of boosting development over the next five years.
The new financial partners, who have acquired 36%, are Sici Sgr (Business development in Central Italy, manages five investment funds) and Next Holding. 3M’s advisor was Deloitte Financial Advisory. Sici is an old acquaintance of 3M because in 2017 he subscribed a 1.5 million bond issued by the company which has grown by 80% (from 10 to 18 million) since 2015. “Now I have decided to open the capital – explains Alvano Bacchi, majority shareholder and managing director of 3M – because the electric car market opens up important spaces for growth. Aluminum will find great application in the sector, both in engine components and in aesthetic parts and frames, and we want to verticalize to seize these opportunities “.
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The development plan includes a more “soft” version, with five million investments over the next five years and the goal of increasing turnover of 27-28 million; and a more “hard” version with the goal of revenues close to 40 million. “We want to strengthen the technical department, quality and logistics,” explains Bacchi.
On the production front, today the merger takes place entirely internally, while 3M relies on external suppliers for ancillary processing. “The mission of Sici is to support and accompany companies capable of driving the supply chains of the territory – affirms the president Vittorio Gabbanini – and we believe that 3M, which has always developed an ‘open innovation’ approach in favor of prestigious Italian car brands and international, can aspire to represent excellence in its sector “.
An excellence that will now be accompanied “towards a capital strengthening useful for supporting growth and development projects” affirms Lorenzo Parrini, partner of Deloitte Financial Advisory.