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FontanaArte secures Nice deal

17 January 2011 10.00 GMT


(Italy) Nice S.p.A. buys into FontanaArte with 60% share for Euro 2,400,000.

Nice S.p.A. has acquired a 60% share of FontanaArte S.p.A., a Milan company which has “made history in lighting and furnishings” in Italy and in the world, which was founded in 1932 by the architect Gio Ponti and has been managed since 1979 by Carlo Guglielmi, the owner of 100% of its share capital.

FontanaArte is a brand that stands for excellence in the lighting systems and furnishing accessories sector, boasting a long history of collaborations with some of the best Italian and international architects and designers and, in recent years, has become a major player in the contracts segment, having completed technical lighting projects for both
indoor and outdoor settings.

This transaction marks a union of two leading Made in Italy names: one is younger, established in 1993, while the other is a historical name of long-standing tradition; both express Italian culture and style through their business and product management approaches, and have distinguished themselves for their innovation, quality, service, design and prestige, the key qualities which foster the competitive advantage so often enjoyed by Italian companies at the international
level.

For Nice, this transaction constitutes a natural continuation of its recent strategies of entering complementary sectors with a view to offering innovative integrated home furnishings solutions.

For FontanaArte, Nice has provided an opportunity to achieve a solid industrial basis going forward, and to facilitate its strategic research for a new international language in the design sector.

Lauro Buoro, Chairman of Nice S.p.A., has expressed his satisfaction: “I am very satisfied with this transaction which gives Nice the opportunity to expand into a complementary sector and to further our strategic plan of developing integrated home design solutions, adding a new angle and richness to our pursuit of elegance and excellence. I am of the view that together we will be in a position to contribute in an innovative and unique manner to the needs of day-today living.”

Carlo Guglielmi, Chairman of FontanaArte, and Chairman of Cosmit and Indicam, has commented on the transaction as follows: “I have found within Nice the ideal -partner to carry the FontanaArte philosophy one step further, to provide continuity and new international input. Nice is a company which strongly believes that design is a key tool for achieving
high quality architectural planning and that research must always reflect the continuity of corporate policies. If FontanaArte currently constitutes a point of reference in the Italian design sector, this is thanks to its capacity to renew its own traditions and to re-launch its design and product culture with an eye on future trends. Nice is a young company
with a strong international focus, an excellent opportunity to widen our brand distribution.”

Under the agreements reached, Nice paid the purchase price of Euro 2,400,000 for its acquisition of 60% of FontanaArte’s share capital. The price was determined on the basis of the company’s expected gross operating margin (Ebitda) for 2010, its current financial indebtedness and the value of the premises where the company’s headquarters
are located.

www.niceforyou.com

www.fontanaarte.it

 

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