Progold acquires the entire share capital of Abi Manufacturing International, based in Bangkok and active in the same sector. The Italian company, based in Trissino (Vicenza), is an international leader in the development and production of precious alloys and advanced additive technologies for jewelry. The operation, as stated in a press release from the company, represents a key strategic step for Progold, which strengthens its presence in a high-potential geographical area such as Asia, with the aim of consolidating the Group’s global leadership in the sector of precious alloys and additive technologies for jewelry.
The operation aims not only to strengthen Progold’s commercial presence in the Asian area, but also to enhance strategic relationships with the main Asian players in the sector, accelerating the implementation of the Group’s industrial plan and opening up new growth prospects.
Abi Manufacturing International, a historic US brand founded by Gary Ford, will continue to operate under its own brand and organizational structure, benefiting from the integration with Progold’s technological skills, financial resources and innovative capacity. The operational leadership will remain entrusted to the current CEO, Nongluck Julsuwan, and the COO Noppadon Niwattannan, thus ensuring strategic continuity. The board of directors will be expanded with the entry of Damiano Zito, President and CEO of Progold, Gemma Michelin, Deputy CEO of Progold, and Thomas Hammershøy Nyborg, member of the board of directors of the Italian company.
The acquisition was actively supported by Lbo France, a private equity firm and multi-specialist and multi-country investment platform. Since December 2021, Progold has been participated by Lbo France through the Small Caps Opportunities fund. Thanks to this operation, Progold “takes a decisive step in its international development path, combining strategic vision, industrial excellence and technological innovation capacity”.
