THE SCUDIERI FAMILY ACQUIRES 28% INTEREST IN ADLER GROUP FROM FSI
Milan, March 7th, 2022 – Adler Plastic S.p.A., controlled by Cav. Paolo Scudieri, has acquired the 28% shareholding interest in Adler Group S.p.A. owned by FSI.
The transaction completes a successful partnership between the Scudieri family and FSI, started in 2018, with the objective of accelerating the growth of the company, both organically and through acquisitions. During the FSI investment period, Adler established itself as the largest worldwide player in the market of acoustics and thermal insulation components for the Automotive industry, completing significant acquisitions. These acquisitions include the ‘Acoustics’ business unit of STS Group, the ‘Plastics’ business unit of STS Group, and the ‘Acoustics and Soft Trims’ business unit of the Faurecia group. In addition, Adler formed a global alliance with the Japanese corporation Hayashi Telempu (HTC), a key Asian industry participant.
With 1.8 billion euros consolidated revenues in 2021 (pro-forma, including recent acquisitions),more than 100 production sites and 15,000 employees worldwide, over the last five years Adler has almost doubled its revenues, increased market share, and strenghtened its international presence in key markets suchas Europe, US, China and Japan. The company is now ready for new growth opportunities.
The Board of Directors of Adler Group, the CEO of Adler-Pelzer Group Pietro Lardini, the members of the Advisory Board of Adler-Pelzer Group Piero Gaeta, Eugenio Razelli and Barnaba Ravanne, and the whole management team, were critical in achieving those strong results. The management led the company through significant challenges and successfully implemented an ambitious growth plan.
Paolo Scudieri, Chairman of Adler Group stated: “FSI was for us a very important partner, that supported Adler in its growth, consolidation and strenghtening of its competitive positioning, in a challenging period for the automotive industry and the global economy. Thanks to the relevant results achieved together, we are ready to continue pursuing this path and confident we will continue to grow and succeed”.
“FSI investment formula supports courageous entrepreneurs with transformational growth projects of companies in key sectors for the Italian economy. The Adler investment shows that it is possible to build very sizeable corporates in Italy, also in the very competitive automotive industry. Our partnership with the Scudieri family combines a long-term industrial project with a solid financial plan. We wish Adler the best for a new growth phase” commented Maurizio Tamagnini, FSI CEO.
Rothschild acted as financial advisor in the transaction. BonelliErede and Avvocato Gaeta Stapa acted as legal advisors.
Adler Plastic is an Italian manufacturing company, world leader in the design, development and production of components and systems for acoustic and thermal comfort, and interior design of vehicles in the automotive, aerospace and train sectors. Founded in 1956 by Achille Scudieri in Ottaviano (Naples), it is currently led by his son Paolo, Chairman and controlling shareholder of the Group.
Adler group is internationally recognized for its advanced research and development capabilities. Thanks to its investments and acquisitions activities, the group reached an annual turnover of 1.8 billion euros and more than 15,000 employees in over 100 sites in Europe, Asia and the Americas. It supplies the world’s leading manufacturers in the automotive and aeronautics industries.
FSI is an independent management company managing “FSI I”, an Italian Growth Private Equity Fund with capital commitments of ca. €1.4 bln. It is backed by leading Italian institutional investors, the European Investment Fund (EIF) through the European Investment Bank (EIB), sovereign wealth funds of Middle East, Far East and Central Asia, asset managers, European insurance companies, banks and family offices of large industrial groups. FSI I targets investments in Partnership with Families and Corporates in mid-market Italian companies with development potential through a differentiated investment formula. The FSI investment formula is based on a moderate recourse to leverage and targets the objective of creating value through organic growth and acquisitions, sector consolidation and succession management. FSI pursues both minority investments with active governance rights and majority investments.
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