Joncoux Group, already strong in 4 domestic markets (France, Benelux, Germany and Poland), acquired a majority stake in APROS to consolidate its position as one of the major European manufacturers of metal chimneys.
After the acquisition, Joncoux Group will have € 85 M consolidated revenues and 500 employees, with manufacturing sites in each zone to offer outstanding service and product range to its customers.
APROS was founded in 1997 by Federica and Luigi Nalon and in a few years became one of the leading manufacturers of metal chimney in Italy. « APROS is a very interesting company with a lot of potential and a real capacity for innovation, which will be further developed with the help of the Group » explains Jacques-Olivier Joncoux, CEO and Chairman. Federica and Luigi Nalon remain as shareholders and Directors of APROS and will join the Group Executive Committee.
Two years after the take-over and successful integration of the Polish company MK, the acquisition of APROS shows that the Group has the capacity to grow rapidly and the competence to control its growth. The Joncoux Group will not change the strategy that has given very good results: develop employees and managers’ skills, provide the industrial, marketing and sales resources at the right operational level, leave a large autonomy to its managers and continue to focus on innovation.
CM-CIC Capital Finance, shareholder of the Group since 2001, assisted the management of the Group during the process that did not require financing with new equity.
M&A WorldWide, with a team consisting of Michel LE BLAY (MBA Capital) in France and Fabrizio RICCI (AVVALOR) in Italy, assisted the buyer during the acquisition.
Michel LE BLAY – Paris