Comelz acquires 100% of Camoga The path of growth and expansion of Comelz, which is already an expression of the Made in Italy excellence, is continuing also for external lines wanting to better equip itself to better face the new challenges on the international markets. Soon there will also be the acquisition of a Software House.
Comelz, a world leader in the production of cutting machines for the footwear, leather goods and automotive industries, continues its strengthening path to better dominate international markets.
After that Americans of NB Renaissance Partners took, thus, control of it in 2017, buying 80% of the shares, today Comelz is strengthening itself as it is acquiring 100% of the Camoga S.p.A. capital from the Mascetti family, a company based in Cormano (Milan) specialised in the production of splitting machines for the most prestigious brands of leather goods, footwear, fashion, automotive and luxury items.
Andrea and Matteo Mascetti, part of the family that founded Camoga in 1948, will retain a leading role within the Comelz group, with particular responsibility for the splitting and assembly area. The acquisition of Camoga (which has about 60 employees, two production sites in Italy and China and which closed 2017 with a turnover of 12 million euro, plus 15% since 2016), will allow Comelz to expand its product range so as to pursue a broader objective: becoming a technological reference partner for customers. At the same time, access to the Camoga sales network will allow Comelz to further accelerate its growth, in particular in China and on the Asian markets where Camoga is present with its own production plant.
Alex Corsico, Managing Director of Comelz, externalises the satisfaction of the whole group:
Comelz’s growth path follows two directions: internal growth, on which we focus more, and growth through acquisitions. Regarding the Camoga operation, we immediately grasped numerous advantages, first of all by acquiring a very famous name all over the world. A super-specialised brand, a recognised leader in the niche of splitters.
Another huge advantage is being able to share the distribution network of Camoga, which is extended all over the world, especially in China, a market in which we believe a lot for the upcoming years.
We will then have the opportunity to centralise research and development so as to develop a fruitful exchange of knowledge, and develop together new products.
Last but not least, the advantage of bringing the important governance experience of two managers such as Andrea and Matteo Mascetti into the Comelz home.
Andrea Mascetti, CEO of Camoga, echoes this:
We already are very proud of the results achieved so far by Camoga and are thrilled to become part of the Comelz Group, a recognised technology leader in the footwear industry. We are confident that the integration of the two realities, two brands and two ‘historical’ families of the sector, will make it possible to better grasp the growth opportunities in the assembly area thanks to the relapse and sharing of the continuous and significant investments in research and innovation at Group level.
It is no coincidence that Comelz has chosen a company that produces splitting machines: “We produce cutting machines and, in general, machines dedicated to the assembly department – continues Alex Corsico – With Camoga we greatly expand our range of action. Camoga will be the one to carry on the entire assembly division, both for footwear and for leather goods and the automotive sector”.
To those who wonder if this acquisition is a prelude to approach other sectors, Corsico answers: “We will certainly focus more on automotive and furniture. I do not deny that we are also looking at other sectors. Maybe one day we will expand our action plan”.
Last news: “Soon, within a couple of weeks, we will conclude another highly strategic acquisition process with a software house of about fifty people. At this point the software and personalisation component becomes more and more important in all products, hence the need to structure ourselves to the maximum even in this regard”, concludes Alex Corsico.