Industrie Chimiche Forestali becomes ICF GroupThe assets of Forestali - acquired 100% by a SPAC listed on the AIM Italia market - transforms the company into one of the few Italian chemical companies listed on the stock exchange. We focus on exports, new products and strategic aggregations.
Industrie Chimiche Forestali – leading player in the sector of adhesives for footwear, leather goods, automotive and flexible packaging made in Italy (to be exact made in Marcallo con Casone, in the province of Milan), will invest 2 million euro and act as lead partner in the new entity (ICF Group) which arises from the marriage between ICF and EPS Equita Pep, the Special Purpose Acquisition Company (SPAC) promoted equally by Equita Group and Private Equity Partners.
It is an important step for the company, which in recent years reached significant economic and financial results, achieving a turnover of about 80 million Euro (2017 expected) with an EBITDA that exceeded its turnover by more than 12%.
Guido Cami, current managing director of ICF and already appointed director of IGF Group, commented on the operation:
This operation will allow us to continue our growth, placing ourselves as a platform in which to aggregate other excellent companies like ours to become, together, even more global. A dimensional and cultural leap that shall evolve under the continued stewardship of managers with consolidated sector experience investing directly in ICF’s future.
The new corporate structure will present a share capital of 5.12 million euro.