Private equity firms Aksìa Group and Alcedo are to sell Gimi, an Italian home care products provider, to FHCS (Freudenberg Home and Cleaning Solutions), the German owner of several brands including Vileda, Wettex and Marigold.
The transaction, which is subject to approval by antitrust authorities, is expected to complete by the end of the third quarter of this year.
Aksìa Group SGR, along with Alcedo SGR, invested in Gimi in October 2008 with the objective to support its growth, contributing professional management and industrial culture.
With a turnover of around EUR80 million (data from 2015) and over 320 employees, the company – founded in 1970 by the Miola family – now produces and sells, in more than 80 countries, clothes drying racks, ironing boards, shopping trolleys, ladders, stools and other accessories, and operates through three logistical platforms in Spain, Germany, Poland and a commercial subsidiary in India.
"The leadership of our brands, the product portfolio, the technological expertise and the innovative capacity of our company,” says Claudio Rosso, CEO of Gimi. “All integrate seamlessly, creating significant added value for consumers and our customers, and thus new market opportunities."