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- 25 September 2014
- by giovanni galeazzi
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Joncoux Group’s growth continues with APROS acquisition in Italy
We are pleased to announce that Jouncoux Group, already strong in 4 domestic markets (France, Benelux, Germany, Poland), acquired a majority stake in APROS to consolidate its position as one of the major European manufacturers of metal chimneys.
After the acquisition, Joncoux Group will have 85 M€ consolidated revenues and 500 employees, with manufacturing sites in each zone to offer outstanding service and product range to its customers
APROS was founded in 1997 by Federica and Luigi Nalon and in a few years became one of the leading manufacturer of metal chimney in Italy. « APROS is a very interesting company with a lot of potential and a real capacity for innovation, which will be further developed with the help of the Group» explains Jacques-Olivier Joncoux, CEO and Chairman.
Federica and Luigi Nalon remain as shareholders and Directors of APROS and will join the Group Executive Committee. « We built this company as a sport car and Joncoux Group will enable to run it at its full potential ».
Two years after the take-over and successful integration of the Polish company MK, the acquisition of APROS shows that the Group has the capacity to grow rapidly and the competence to control its growth. The Joncoux Group will not change the strategy that has given very good results: develop employees and managers’ skills, provide the industrial, marketing and sales resources at the right operational level, and leave a large autonomy to its managers.
CM-CIC Capital Finance, shareholder of the Group since 2001 assisted the management of the Group during the process that did not require financing with new equity.
M&A WorldWide, with a team consisting of Avvalor in Italy and Le Blay Associés – MBA Capital in France, assisted the buyer during the acquisition.