Rino Mastrotto, a world leader in the production and sale of leather, textiles and high value-added services for high fashion, automotive and interior design, today announced the signing of a binding agreement aimed at the acquisition of Mapel Group S.r.l. and its subsidiaries Mapel Textile S.r.l. and Mapel Components S.r.l., Italian excellences in the production and marketing of tapes, inserts and accessories for the luxury world. The deal involves Rino Mastrotto's purchase of a majority stake in Mapel Group from the Leni and Ugolini families, who will remain with a minority stake and continue to lead the company's management. With more than 30 years of experience, Mapel Group represents one of Italy's leading companies in the production and marketing of ribbons and accessories for the luxury world.
Mapel Group operates through two subsidiaries: Mapel Textile, active in the production of flat ribbons, jacquards, cords, elastics and shoulder straps for the fashion world, and Mapel Components, specialized in the production of inserts including handles, buckles, supports and profiles in the leather goods sector, as well as for footwear and clothing. Mapel Group offers customized solutions and services, from the design phase to the production of the finished product, serving about 300 customers in fashion & luxury and employing more than 80 people in its plants in Galliate Lombardo (VA) and Castellalto (TE). The deal, which will be finalized by the end of the year, allows Rino Mastrotto - a subsidiary of NB Renaissance - to further expand its offerings in the high fashion sector, creating important commercial and production synergies among the group's companies. For Rino Mastrotto this is a new important step in the path of strategic diversification that has seen in recent years the entry of some industrial excellences such as Nuova Osba, Tessitura Oreste Mariani, Carroll Leather, Morelab and Imatex.
Matteo Mastrotto, CEO of Rino Mastrotto, commented, "Rino Mastrotto is a partner in the world of luxury, from high fashion to high-end furniture to the best-known automakers, and every step we take aims to strengthen this positioning. In the last 4 years we have welcomed 6 industrial excellences into our group, key partners in the world of luxury. The operation with Mapel Group adds an important piece to our proposal of products and services for high fashion and our customers will be able to find in Rino Mastrotto an increasingly complete and sophisticated proposal, from leathers to fabrics and, starting today, to ribbons, components and inserts."
Gian Pietro Leni and Luciano Ugolini, directors and partners of Mapel Group, said, "We are confident that this transaction will allow Mapel Group, through its entry into Rino Mastrotto, to continue its growth path and consolidate the company's presence in the high fashion sector." Rino Mastrotto was assisted by Banca Akros as financial advisor, Alvarez & Marsal for financial due diligence aspects, and Deloitte for legal and tax assistance on the transaction. Essentia Advisory assisted Rino Mastrotto as debt advisor in structuring the bank financing provided by Intesa Sanpaolo, Banco BPM, Unicredit, BPER and Credit Agricole Italia. Mapel Group relied on Mediolanum Investment Banking as financial advisor, Merkaba Consulting for accounting and tax aspects, and Studio Legale Associato Dario Cornetti, Laura Guenzani and Giuseppe Tizzoni for legal assistance, with the support of the Studio dei Commercialisti Faroni - Nebuloni.
