ACQUIRED A BUSINESS BRANCH OF PICENUM PLAST

Cazzago S. Martino, December 13, 2024 – Industrie Polieco – M.P.B. S.p.A., a global leader in the production of corrugated polyethylene pipes and polyethylene and polypropylene compounds and adhesives, announces the acquisition of 100% of the share capital of a Special Purpose Vehicle (“NewCo“) established by Picenum Plast S.p.A. for the transfer of activities related to the production of smooth PVC and PE pipes.

The transaction, made possible through the strategic support of RedFish LongTerm Capital, represents a significant step for Industrie Polieco in further strengthening its leadership position in the Italian market and expanding its product offering by entering the polyethylene pipe segment for water and gas, as well as PVC piping.

Picenum Plast S.p.A., based in Magliano di Tenna (Fermo), has been operating since 1974 in the production of smooth PVC and PE pipes. The company closed the 2023 fiscal year with €48.2 million in revenue, €13.4 million in EBITDA, and over €6 million in net financial position (cash). Picenum Plast’s established expertise represents a strategic opportunity for Industrie Polieco to diversify its product range and reinforce its presence in the Italian market.

Luigi Tonelli, President of Industrie Polieco – M.P.B., stated: “Entering the PVC pipe sector and the polyethylene pipe segment for the transportation of drinking water and gas is a natural evolution for Polieco, as we aim to meet market needs while maintaining a focus on innovation and sustainability. This acquisition confirms our growth strategy and commitment to creating value, supported by collaborations with top-tier industrial and financial partners. We are confident that the integration with Picenum Plast will create significant opportunities for both companies.”

Industrie Polieco – M.P.B. was assisted by RedFish LongTerm Capital as M&A advisor for strategic coordination, Gitti and Partners Law Firm for legal matters, and EY S.p.A. as financial and accounting advisors.

Picenum Plast was advised by Intesa Sanpaolo – IMI Corporate & Investment Banking Division as exclusive financial advisor, Mauro Bisci of B&B Consulting for organizing the due diligence process, and lawyers Avv. Germano Nicolini and Avv. Alfredo Tacchetti.