- Progressio invested in Garda Plast in 2017
- GP Group generated revenues of over €90m in 2022
- Progressio is an independent private equity firm based in Milan
Progressio has sold its stake in Garda Plast Group (GP Group), a PET preforms manufacturer, to Valgroup.
GP Group was formed through the aggregation between Garda Plast and IFAP, led by Progressio. It generated revenues of over €90 million in 2022. Garda Plast and IFAP are based in Brescia and Udine in Italy, respectively.
Progressio invested in Garda Plast in 2017, via its Progressio Investimenti II fund.
“The group has achieved a virtuous growth path, entering new markets, developing new value-added business lines, investing in technology, digitalisation and sustainability,” said Alessandro Petraccia, senior partner at Progressio.
Progressio’s deal team includes Filippo Gaggini, Alessandro Petraccia, Mauro Ballabio, Giovanni Pesce and Beatrice Capretti.
Milan-based Progressio is an independent private equity firm focused on the Italian mid-market.
Valgroup is a producer, transformer and recycler of plastic packaging. It is based in Sao Paulo, Brazil.
No financial details of the transaction were disclosed.