San Quirico S.p.A., a company part of San Quirico Group established about 30 years ago and controlling shareholder of the Italian oil company Erg, has signed an investment agreement to acquire 75% of Minerva Hub. The remaining 25% will be held by Xenon Private Equity and Ambria Holding jointly with other co-investors.
Matteo Marzotto will retain the position of chairman of Minerva Hub.
Minerva Hub, which represents a leading Italian group in the luxury accessories finishes and materials sector, has revenues of over €170 million and a portfolio of over 1,000 clients including 20 of the top luxury brands, and over 700 direct employees.
Minerva Hub was born in 2022 from the merger of XPP Seven, chaired by Gianfranco Piras, and Ambria Holding, chaired by Matteo Marzotto, two entrepreneurial initiatives that have aggregated over the years some of the best manufacturing companies in the sector.
The Minerva Hub Group to date includes Conceria Zuma Pelli Pregiate S.r.l. (Pisa), Audasit Inc.(USA), Just Gators Inc.(USA), Centrorettili S.r.l.(Pisa), Quake S.r.l. (Vicenza), Jato 1991 S.r.l.(Bologna), Jato India Pvt. Ltd.(India), Jato Garments Pvt. Ltd., Koverlux S.r.l. (Bergamo), Oroplac S.r.l. (Florence), SP Plast Creating S.r.l.(Fermo), Luciani & Co. S.r.l., Gruppo Meccaniche Luciani S.r.l. (Macerata), Galvanica Formelli S.r.l. (Arezzo) and e MA.GUI. S.r.l. (Arezzo), Zeta
Through this transaction, Minerva Hub becomes part of one of Italy's leading industrial groups, and will enable accelerated development through financial, commercial, and production synergies, as well as research and innovation.
Minerva Hub's growth will also continue through new acquisitions, aimed at strengthening the production capacity and expanding the portfolio of products and services offered, with the ultimate goal of implementing a “Made in Italy” manufacturing and creative industrial reality at the service of leading Italian and international luxury brands.
"I am delighted and proud that an investor of the caliber of San Quirico, with its entrepreneurial and industrial history, grasps the potential of Minerva Hub as a primary, unprecedented platform for the supply of the haute-de-gamme accessory, with its formidable craft-industrial capabilities, to transform the creative ideas of the world's most celebrated brands, into products of absolute excellence in compliance with the most challenging ESG standards," said Matteo Marzotto.
"I am certain that San Quirico's vision and expertise combined with those of the team that generated Minerva Hub will be decisive in future growth and value creation," Marzotto added.
"We are very pleased with the agreement signed with San Quirico, and we are confident that the new majority shareholder will make a major contribution to the achievement of Minerva Hub's goals, in the wake of the path we started in 2019 and developed with Matteo Marzotto," commented Franco Prestigiacomo, CEO of Xenon Private Equity.
"We continue to strongly believe in the further growth of Minerva Hub and for this reason we are very happy to be able to continue to be an active part of the corporate structure, and give our contribution mainly in the area of M&A," added Prestigiacomo.
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