A few days after the announcement of the acquisition of Jato 1991, an Italian company highly specialised in handmade embroidering, Minerva Hub Spa, the new Italian industrial reality grouping various specialists in finishes and materials for luxury accessories and apparel, has announced more strategic novelties.
The holding is now counting eight companies under its umbrella (Jato 1991, Galvanica Formelli, Koverlux, Quake, SP Plast Creating, Zeta Catene and Zuma Pelli Pregiate, and Audasit, another newly acquired sustainable alligator breeding company in Texas). It is also in the process to acquire two more companies and reach nine controlled ones by end of 2022 by finalising an agreement with a specialist in the production of highly accurate plastic molds for the footwear and bag industry (Gruppo Meccaniche Luciani). Moreover, the holding could grow to include six more enterprises by the first three months of 2023 and reach at total of at 15 companies.
Minerva will close 2022 registering more than €180 million sales, a €50 million EBITDA, and a net income of more than 15%, but its plans to grow are ambitious. "We are looking ahead to further integrate our action to other fields," commented Piras. "Our strategy and our strength lays in our ideas but also in entrepreneurs as Jacopo Tinelli, owner of the newly acquired Jato 1991, who can open up the door to other companies. Consider that Jato 1991 also owns an over 12,000 unique apparel piece archive, including, for instance, special clothes created by Karl Lagerfeld for Anna Piaggi," added Piras.
The holding has also recently hired an ESG manager that will support of the group's companies increase their expertise and achievements in terms of environmental, social and governance safeguarding aspects.
Minerva has also reported about recent scouting activities and found out that over 50 companies that could potentially become part of Minerva Hub and once aggregated with it, they could produce much higher revenues, like an overall estimated one billion Euro and an about 20% EBITDA margin.
"This shows how the Italian industry and how the small- and medium-sized dimension companies will keep for long its absolute leadership in this field, despite its fragmented situation," commented Franco Prestigiacomo, CEO and co-founder, Xenon underling the important role that Minerva Hub could play in supporting them by letting their founders and managers guide them and let them remain competitive in the global luxury markey.
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