ELETTROTEK KABEL S.p.A. acquires 100% of Cable Service S.r.l. and Controlcavi Industria S.r.l
Bagnolo in Piano (RE), 30 January 2023 – Elettrotek Kabel S.p.a. (hereinafter ‘EK Group’) announces the acquisition of 100% of the share capital of Cable Service S.r.l. and its subsidiary Controlcavi Industria S.r.l. (hereinafter jointly ‘CCI Cable Service’).
The CCI Cable Service Group, founded in 1981, with headquarters in Bernate Ticino (MI) and Milan, manufactures and sells fire resistant electrical cables for the Marine, Onshore & Offshore petrochemical industry, suitable for both low and medium voltage. Moreover, thanks to FIREBAR® technology, CCI Cable Service products are approved by the world’s largest industrial, naval and petroleum groups.
Roberto Gallingani (President & CEO of Elettrotek Kabel S.p.A) emphasises how CCI Cable Service represents a perfect fit for EK Group, fully sharing its values and entrepreneurial culture. This knowledge alignment will result into an easy integration between the two companies, with subsequent growth of the EK Group in markets where track records, approvals and 40 years of experience are fundamental.
Roberto Gallingani also points out that the transaction has a profound personal significance for the selling family because it respects the will of the recently deceased sole director and owner of the CCI Cable Service group, Mr. Gianpaolo Brambilla, to continue the company’s development path pursued by two generations, in order to preserve the excellence achieved and company values, also in the interest of stakeholders.
With this acquisition, the EK Group continues its growth from 2001, the year of its foundation, to the present day, with 250 employees and a turnover of more than 150 million euros, with reinforcement in its three divisions, electrical cable production, cable harness production and assembly and its worldwide commercial distribution.
EK Group was assisted by Saimon Conconi and Francesca Baldi, partners of Baldi & Partners, for negotiation, accounting, tax and legal due diligence and contractual consulting.
The seller was assisted by Tonucci & Partners, with a team led by partner lawyer Andrea Marchetti assisted by senior associate lawyer Valentina Ladislao for the Legal part, by Alisea Corporate Finance with partner Francesco Budrago and senior analyst Marzia Saraceno, and by Anna Cortesi as management consultant.