Starting an internationalization and consolidation project within a supply chain of excellence in the Italian industry
Milan, 1st August 2022 – Fondo Italiano d’Investimento SGR and Armònia SGR have signed an agreement to acquire a majority stake in the capital of Quick Group Spa, Italian leader in the design, engineering and manufacturing of recreational boating equipment.
The transaction, which takes place via Fondo Italiano Consolidamento e Crescita – FICC and Armònia Italy Fund, aims at strengthening the growth path already undertaken by the Group, through an ambitious consolidation and internationalization project within one of the Made in Italy supply chains of excellence.
Founded in 1983 on the initiative of the Marzucco family, Quick is today, thanks also to several acquisitions, a well-established brand for the supply of innovative components for leading shipyards, both for original equipment and refit, with a widespread geographic presence and overseeing directly the main international markets (Italy, the United Kingdom and the United States). Specifically, the Group specializes in the production of maneuvering systems, windlasses, lighting, battery chargers and inverters, boilers and related accessories for yachts and superyachts, both sail and motorboats. Quick was, moreover, among the first players in the world to introduce to the market a wide range of gyroscopic stabilizers (MC2 Quick Gyro) capable of reducing boat roll by up to 95 percent. To date, the range of MC2 Quick Gyro stabilizers is the most extensive on the market: from the X2 model up to the X75 for boats up to 250 tons.
Thanks to the vertical integration of the production process, the breadth of business offerings, and the technological know-how gained over the years, Quick represents an excellent consolidation platform and is well positioned to take advantage of the favorable boating market trend that began in the wake of the pandemic crisis.
Quick Group, which is headquartered in Piangipane di Ravenna and has two foreign offices in the United States (Linthicum, Maryland) and Great Britain (Holbury, Southampton), as well as the CATT machine factory near to the Ravenna plants, employs a total of about 270 people and estimates to close the current fiscal year with consolidated sales in excess of 65 million euros.
The Marzucco family will remain at the helm of the company, thus providing continuity to an entrepreneurial success story, now further strengthened by the contribution of FII and Armònia who will bring complementary expertise and networks of industry experts in order to increase development opportunities for Quick.
Davide Bertone, CEO of Fondo Italiano d’Investimento said:
“Fondo Italiano d’Investimento is proud to start a consolidation project in the recreational boating market, a strategic sector in terms of international visibility and contribution to the promotion of Made in Italy. In partnership with the Marzucco family and Armònia, we aim to give life to a national champion capable of becoming a point of reference in international markets.”
Alessandro Grimaldi, CEO of Armònia said:
“By joining Quick’s controlling shareholder, together with Fondo Italiano d’Investimento, Armònia Italy Fund continues its investment strategy alongside entrepreneurs, aimed at creating leading companies in their target markets.”
Michele Marzucco, CEO of Quick, said:
“The investment of Fondo Italiano d’Investimento and Armònia in Quick’s capital represents an important step in our growth path. We are convinced that we have found a strategic partner that can support us in becoming a progressively more important point of reference for the global boating industry by espousing the values that have accompanied us to date: continuous innovation, capillary assistance, attention to the customer and respect for our employees.”
Advisors
Advisors to Fondo Italiano d’Investimento and Armònia
M&A: LABS Corporate Finance
Legal: Gitti & Partners, Gianni & Origoni
Business due diligence: LTP OC&C, Deloitte
Accounting: EY; Deloitte
Tax & structuring: RDR Associati; Foglia & Partners
ESG due diligence: Deloitte
Environmental due diligence: HPC Italia
Advisors to Marzucco family
M&A: Ethica Group
Legal: Gatti Pavesi Bianchi Ludovici
Financing
Banche: Banco BPM e BPER Banca, assistite dallo studio Molinari Agostinelli
Descriptions
Fondo Italiano Consolidamento e Crescita FICC
FICC is focused on aggregation and growth investments, aimed at supporting the development and internationalization of Italian SMEs of excellence and the consolidation of fragmented supply chains, combining market financial instruments with a mission driven by impact on the industrial system. The Fund, with about €500 million AuM, is now more than halfway through its journey. FICC portfolio companies are: Marval (Precision machining for off-road heavy duty engine components, also active in green propulsion such as natural gas, with a strong presence in Asia), C2Mac Group (leading group in complex castings and machining for the hydraulics sector), Maticmind (Italian leader in services related to installation, configuration and management of complex digital networks), Gruppo Florence (aggregation of companies in the apparel manufacturing sector for luxury brands) and Gruppo Mecaer (aeronautical equipment mainly for helicopters and business jets). FICC is led by Senior Partners Gianpaolo Di Dio, Aldo Di Bernardo and Marzia Bartolomei Corsi.
More information is available at https://www.fondoitaliano.it
Armònia SGR
Armònia is an asset management owned by its manager, authorized and supervised by Bank of Italy and CONSOB. Armònia is a member of AIFI (the Italian Private Equity and Venture Capital Association) and adheres to the Chart for the Sustainable and Responsible Investment of Italian Finance, with the aim to create value for the investors and the company. A medium-long term investment strategy respectful of the CSR (Corporate Social Responsibility) principles. The managed fund Armònia Italy Fund owns majority participation in Aspesi SpA (fashion), Estendo SpA (extended technical assistance), BioDue SpA (nutraceuticals), Arrigoni SpA (agro-textile), Induplast Group Srl (cosmetic packaging) and Riva e Mariani Group SpA (insulation of industrial plants).
Quick Spa
Quick Spa, international leader in the production of nautical equipment, designs, produces and engineers all its products in the Italian Headquarter in Ravenna. Since 2006 Quick Spa has established a commercial presence in the United States as Quick USA INC, which develops commercial and technical assistance activities for the US market. Quick Spa is also present in the UK with Quick UK, founded in 2018.
Quick Spa’s product portfolio ranges from gyroscopic stabilizers, technical and decorative nautical lighting to anchoring systems, battery chargers, thrusters, and water heating systems.
