Eurmoda acquired La Cerniera in a deal that also includes reinvestment and management reshuffling. La Cerniera’s current CEO, Giovanni D’Andria, becomes CEO of the Eurmoda group, where he takes over from Marco Vecellio, who assumes the role of Eurmoda president. Upon completion of the acquisition, the group will come to generate revenue of 90 million euro with 490 employees.
Eurmoda acquires La Cerniera
The acquisition was made possible thanks to the resources made available to Eurmoda by its majority shareholder, Aurora Growth Capital, which a few months ago invested in the Pederobba (Treviso) company alongside Mindful Capital Partners and founder Marco Vecellio. La Cerniera is a company active in steel accessories for luxury leather goods. Based in Scandicci (Florence), it employs 130 people and has recorded significant growth rates in recent years, thanks to a strategy also driven by innovation. La Cerniera’s current shareholders will reinvest heavily in the new group and actively contribute to the new growth phase, ensuring managerial continuity.
Commentary
“La Cerniera brings complementary and synergistic skills, as well as new clients and technologies”, commented Giacinto d’Onofrio, managing partner of Aurora Growth Capital (in photo). “The transaction is focused on industrial growth, while maintaining a solid financial structure”. New Euromoda Group president Marco Vecellio notes, “Thanks to this new integration, we also have a new key in terms of steel production and in terms of capacity and commercial presence”. For Giovanni D’Andria, former CEO of La Cerniera and new CEO of Eurmoda: “The commitment consists in working alongside the brands without distorting the unique characteristics of each individual company in the group and preserving the service and relationships established over time”.
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