Pavia e Ansaldo with Menghi in the acquisition of Grosso
Milan, 16 December, 2020 – Menghi S.p.A., leader in Italy in the production of footware and soles in EVA (ethylene vinyl acetate) and in thermoplastic materials for the luxury sector, with offices in Loreto (AN) and more than 300 employees, acquired 100% of the capital of Grosso S.r.l., a leading company in the production of moulds for luxury and mountain shoes, founded by Paolo Grosso in the Eighties in the heart of the footware district of Marche Region, with offices in Civitanova Marche (MC), counting among its main clients on Prada, Versace, Valentino, Berluti and Salvatore Ferragamo.
The transaction is the first acquisition for the Menghi Group since Lion Capital, an Anglo-american private equity fund, acquired in July, 2019 a majority stake in partnership with the founding family. The acquisition of Grosso will allow the Group to integrate and potentiate the offer for its clients, with a 360 degrees service level, unique in the Italian and international panorama, and set in an overall scheme of investments in digitalization and 4.0 enterprise, with the goal of strengthening the service level offered by Menghi S.p.A. to its clients in the luxury compartment.
The acquisition marked the exit of the founder Paolo Grosso from the corporate structure with the remaining operating partners of Grosso reinvesting in the capital of the Menghi Group, thus operating the line-up of interests of all the partners in a shared strategic project.
Menghi S.p.A. was assisted in all aspects regarding the transaction by Law firm Pavia e Ansaldo with a team composed by partner Giuseppe Besozzi, counsel Maria Chiara Puglisi and associate Erica Lepore. PwC covered the financial and tax due diligence.
Grosso S.r.l. was assisted in the strategic and financial aspects by CF&S Advisors, with the managing partner Marco Lazzaro, while in the legal, contractual and tax matters, respectively, by Bacciardi and Partners Law firm in Pesaro with managing partner Lorenzo Bacciardi and senior associate Pier Federico Orciari, and by Studio Trapanese STP Dottori Commercialisti in Ancona with partner Mauro Sebastianelli and junior associate Nicola Cardinali.