- The investment has been made with the aim of propelling Almac’s expansion organically and via strategic M&A
- Almac specialises in the design and production of self-propelled tracked aerial platforms and transporters
- The company expects to close 2022 with a turnover of approximately €28 million
Wise Equity on Thursday announced that it has bought Viadana, Italy-based Almac, a designer and producer of self-propelled tracked aerial platforms and transporters. It designs and manufactures its products in Italy for distribution to international markets with an export share of 87 percent in 2021. Almac expects to close 2022 with a turnover of approximately €28 million.
“We are thrilled to begin this journey with Almac, an example of a small Italian ‘pocket-sized’ multinational company that, by focusing on innovation, has been able to establish itself in just a few years as one of the most interesting players in a global market that sees the presence of major groups,” said Luigi Vagnozzi, partner at Wise Equity. “Almac and its management team are the ideal base to start a consolidation project in this sector.”
Wise Equity has bought a majority stake in Almac from founders Andrea Artoni and Pietro Agosta Del Forte. Artoni will reinvest alongside Wise Equity and will stay on as CEO while Agosta Del Forte will relinquish his stake.
Wise Equity is a Milan-based private equity firm investing in Italian SMEs. The firm was founded in 2000. To date the firm has invested approximately €650 million. The investment in Almac is the sixth transaction carried out by Wisequity V. The fund following this investment will have deployed 68 percent of its initial allocation of €260 million.