Transaction news Cobepa

#Cobepa #acquisition #Salice
28 Jun '22

Cobepa closes the acquisition of Salice

NOVEDRATE/ BRUSSELS, 28 June 2022. Cobepa acquires a majority stake in Salice S.p.A., an Italian family business specialized in furniture fittings, opening systems and wardrobe accessories.

A key turning point in Salice's history 

The transaction is a pivotal moment in the Salice family’s longstanding history, as Cobepa’s entry marks a new phase of investment and development. The third-generation family shareholders grew the almost 100-year old business, specialized in furniture fittings, opening systems and wardrobe accessories, into a market leader reaching a consolidated revenue of more than €200 million in 2021 thanks to the progressive launch of innovative and patented solutions.

Strategic growth opportunities ahead

Partnering up with Cobepa will reinforce Salice’s leading market position and help unlock further growth opportunities, in terms of both geographical expansion and penetration of new market segments. The Salice family will remain as minority shareholders and, to ensure a correct transition and guarantee managerial and operational continuity, Francesca, Massimo and Sergio Salice will maintain their current roles within the company.  

Aligned vision and values

“This transaction represents a significant turning point in the history of Salice. We are convinced that this new development phase starting today will offer the widest opportunities for growth not only for the company, but also for all the Group's employees”, say Francesca, Massimo and Sergio Salice. They add: “We chose Cobepa as our new partner because we believe they share our corporate and human values. Cobepa has a solid reputation in accelerating the development of companies by leveraging their human capital and skills, while stimulating the potential and the entrepreneurial spirit of the management teams it works with”

Jean-Marie Laurent Josi, CEO of Cobepa, says: "We found in Salice a perfect example of Italian industrial excellence and we are proud to support them in their growth path”. Charles-Henri Chaliac, Group Managing Director, and Andrea Sartori, Principal at Cobepa, add: “Leveraging on Salice’s strong values and foundations, we look forward to accompanying them in their journey to become the global leader in high-quality, premium functional solutions for the furniture industry".

About Salice
Salice is the Italian world leading player in the production of opening systems and functional components for the furniture industry, founded in 1926 by Arturo Salice. The Group has 3 production sites in Italy (Novedrate, Belluno and Colli al Metauro) and is present in 10 countries with 12 foreign subsidiaries. In 2021 Salice recorded net sales of approximately €216 million with exports to more than 90 countries.