Third investment for the industrial private equity Metrika with the aquisition of Proterm group

1 February 2022
The third investment of METRIKA is focused on the development of Proterm Group, one of the leading Italian players in the metal heat treatments market
Milano, January 31st, 2022 – After having recently announced the completion of the fund raising, having reached the hard cap of 150 million euros, the Private Equity Metrika, led by partners Marco Giuseppini and Nicola Pietralunga, has completed its third investment by acquiring the majority of Proterm Group, specialized in heat treatments of metals and complementary thermal processing activities. The Accorsi and Cullati families, together with a group of financial investors, will retain a minority stake in Proterm ensuring the operational and management continuity.

Founded in 1947 by the Accorsi family in Calderara di Reno (Bologna), Proterm Group can rely on a wide geographic coverage of the domestic market and an extensive range of heat-treating services thanks to its 7 production plants. Furthermore, its know-how and its wide portfolio of technologies allow the group to serve a well-diversified customer base of Tier I and Tier II industrial operators active in different end-markets such as agriculture, earthmoving, hydraulics and rail transports.

Over the years, the Proterm Group recorded a significant volume growth consolidating its leadership position in a market characterized by strong entry barriers and a high level of service specialization.

Proterm Group, which exceeded 40 million euros of turnover in 2021, is ready to start its new expansion phase alongside Metrika with the following main goals:

  • expanding its production capacity through the investment in a new production plant in Italy;
  • exploiting further growth opportunities through a targeted M&A strategy;
  • enlarging its technical solutions to access in new market segments;
  • implementing a sustainability program to align the Group with the highest market standards.

The tight-knit group of managers of Proterm said: “We are proud to welcome a financial operator with a strong industrial vocation like Metrika, whose entry marks the beginning of a new and further phase of growth and consolidation.”

Marco Giuseppini and Nicola Pietralunga of Metrika, commented: “This third transaction further confirms Metrika Fund’s ability to identify and execute transactions with strategic players in the Italian’s industrial fabric. Proterm stands out for its wide range of heat treatments – both on raw and processed metals – and for its high level of technical know- how, which over the years has allowed it to be one of the most recognized groups in Italy. Metrika will support Proterm to boost its organic growth and to exploit a targeted M&A strategy aimed at the consolidation of the Italian market, which is still very fragmented.”

Metrika has been assisted by Piero Venturini, Riccardo Paganin and Antonio Garramone of the law firm Legance for legal and contractual aspects, by Alberto Russo, Alessandro Manias and Andrea Massaccesi of the tax firm Russo De Rosa for the tax aspects of the operation, by Federico Mussi, Alberto Zanatta and Alessia Trentini of PWC for accounting aspects, by Alessandra Cavina and Claudia Zedda of PWC for corporate tax aspects, by Fabrizio Franco De Belvis, Marta Baldin and Alessandro Samaja of PWC for business aspects, by Guido Ruozi and Marco Radice of Willis Towers Watson for insurance aspects, by Francesco Ducco and Andrea Perna of ERM Italia for the environmental and ESG aspects, and by Simone Strocchi and Daniela Deghi of Electa for the structuring aspects of the operation.

Proterm Group shareholders have been assisted by Elmar Zwick and Roberto Rio of the legal firm LMCR for contractual aspects. Valerio Accorsi has been assisted by Federico Dettori of the law firm Gianni & Origoni.

The transaction has been funded by BPER Banca which acted as MLA & Agent Bank, in the persons of Michele Fracassini and Giulio Pileri of BPER’s Corporate & Investment Banking Division. BPER Banca has been assisted by Maura Magioncalda, Consuelo Citterio and Mattia Longo of the law firm Pedersoli.

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Metrika SGR S.p.A.

SGR Registered in the register pursuant to ART. 35 of the TUF at Banca d'Italia, AIF Managers Section, at number 173, on 30/07/2019

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