A new industrial entity is born in the world of Italian jewelery: Bluclad, a Florentine company active in the sector of electroplating products for the fashion and luxury market and Progold, a Vicenza company active in the sector of alloys, mother alloys and additive manufacturing for the sector of high jewelery, have signed an agreement to merge their business activities, which will lead to the creation of an integrated platform serving the most important brands in the luxury and jewelery sectors.
This integration, specifies a press release, will favor commercial and operational synergies, the sharing of the know-how gained over the years of experience of the two companies and even greater innovation, leading to the consolidation of market leader positions in their reference segments.
The operation was made possible thanks also to the support of Gioconda, the Italian branch of LBO France, an independent operator and one of the major private equity companies in Europe with € 6.3 billion of capital raised, already the majority shareholder of Bluclad through its Small Cap Opportunity fund.
We are excited about the conclusion of this collaboration and integration agreement between Bluclad and Progold. Our companies, while operating in different sectors of the luxury market, are perfectly complementary and the integration between the two will certainly lead to the creation of a global player and reference also in the sector of components for high-level alloys and master alloys.
Marco Eruli, president and CEO of Bluclad
“I am extremely satisfied”, adds Damiano Zito, Progold’s CEO. “We searched for each other, liked us and decided to combine our resources and our core competences to expand our value proposition. Our business models are perfectly adherent and are the basis of the strategic decision taken. We will face the future by bringing our customers to exploit the value that Bluclad will be able to pour into the line of galvanic products created specifically for the goldsmith sector. We are confident that our customers will, like us, be satisfied with this integration to our core offering. Thus begins a new phase of growth for Progold, a dream shared with four friends, whose precious support has allowed the company to become a leader in its reference market 25 years later and to be ready today to seize this opportunity “.
Bluclad and Progold are the classic example of companies in which we are excited to invest, thanks to a strong and cohesive management team, a market leadership position, a strong focus on growth and innovation. The Progold integration operation, which will be subject to approval by the financing institutions and authorizations according to the applicable regulations, is part of the strategy of constant growth support, such as for example in the implementation of extraordinary operations like this and fits perfectly in the market trend that sees the fashion world pervade more and more jewelry. We are therefore thrilled to have created a unique operator in its reference market capable of supplying the most innovative products in the sector.
Arthur Bernardin, managing director of Gioconda
The consultants who assisted the parties were Kpmg (accounting), Nctm (legal and tax), GoetzPartners (business), Golder (environmental). On the Progold side, the operation was assisted by Francesco Rivi and Stefano D’Incà of the Etax studio.