News & Press
Alpha has finalised the acquisition of A.M.F. S.p.A
Alpha has finalised the sale contract for the acquisition of A.M.F. S.p.A, leader in the market of metal and non-metallic accessories for clothing, leather goods and bijoux, for the most important international fashion houses.
Alpha Private Equity Fund 7 has finalised the sale contract for the acquisition of A.M.F. S.p.A. from Italglobal Partners, Simax Srl (vehicle of the Faerber family) and HB 2.0, which reinvested together with Alpha in the new shareholder structure.
The completion of the transaction is expected before the summer break. Carmen Faerber, current CEO, will continue to lead A.M.F. together with the current management team. AMF, founded in 1996 by Carmen and Andreas Faerber and based in Bassano del Grappa (VI), is one of the leaders in the market of metal and non-metallic accessories for clothing, leather goods and bijoux, for the most important international fashion houses. Over the past few years, A.M.F. has integrated Figros, a leader in the moulding of metal accessories, and Made Black, a company specialising in painting and surface treatments for fashion accessories. The 2018 financial year closed with a consolidated turnover of around EUR 51m, up 10% compared to the previous year, and an EBITDA of around EUR 13m.
Alpha and the Faerber family intend to further strengthen the AMF Group's leadership position, to seize the opportunities offered by a market that shows significant growth rates, leveraging the high level of service and the capacity for innovation and creativity that the market recognises of the Group. Furthermore, the Group is in a position to play a fundamental role in the consolidation process within a currently highly fragmented market.
Edoardo Lanzavecchia, managing partner of Alpha, said: "We are extremely satisfied with the acquisition of A.M.F., leader in the metal accessories sector for the main international luxury brands. We believe that AMF, thanks to the proactivity recognised by the market, combined with creativity and technical skills, is the best positioned player to guide the process of evolution and simplification in the high-end luxury accessories industry: a "one-stop- shop ”also characterised by a strong focus on the sustainability of materials, to the benefit of luxury brands. Alpha will work alongside Carmen Faerber and the whole team to give a further boost to the development of the Group, both internally and through the pursuit of a decisive growth strategy for acquisitions ".
Carmen Faerber said: "We thank Italglobal for the exceptional journey made over the years and we are very excited to start working with Alpha today, which - thanks to its strong industrial expertise - will be our ideal partner to further improve the service offered to our customers"
Alpha was assisted in the operation by Pedersoli Law Firm, Deloitte, Boston Consulting Group, AECOM, Fineurop and Essentia Advisory. The sellers were assisted by Gattai, Minoli, Agostinelli & Partners, Mediobanca, Bain & Company and PwC.