French group Snetor has announced the acquisition of up to 70% of the distribution business of Tecnopol, a leading company in the distribution, trading and compounding of thermoplastic polymers, both commodities and technicians based in Turin. The remaining 30% will remain the property of the company’s historical managers and shareholders (Giancarlo Rizzi and Alberto Borio), who will continue to cover their respective roles as managing directors and will take care of management to ensure continuity in the development of strategic objectives (see here the press release).
The Oaklins Italy team assisted the operation with regards to the m & a and financial aspects. From a legal point of view, Tecnopol and Snetor were followed respectively by the Turin-based firm LRV Legal and the French firm Bolze Associes.
With 35 years of history behind it and over one billion euros in annual turnover, today Snetor is present in various continents, from the Usa to South America, from Africa to Europe, with 19 offices in as many countries and is animated by a logic of strong territorial expansion in new markets and applications. From 2018 the group is participated by the Sofival family office and the Paluel-Marmont Capital fund (see the press release of the time here).
The agreement, from which the new Tecnopol Snetor spa Group will be born, also plans to combine the existing activities on the Spanish market of Snetor Iberica and Tecnopol so as to make its presence on the Iberian market even more significant. Therefore Tecnopol Snetor Iberica will be created which will be controlled 60% by Snetor and 40% by Tecnopol Snetor Italia.
Tecnopol in 2019 recorded a turnover of over 60 million euros and boasts a significant base of consolidated customers covering the entire national territory and ranging in the most varied applications: among others the medical, automotive, household appliances, the furnishings and packaging.
The compounding activities of the Tecnopol group are not part of the operation and were separated through the carve out of the Omikron company which remains the property of the Borio and Rizzi families. However Tecnopol Snetor will also deal with the distribution of the compounds produced by Omikron. Thanks to the proceeds from the sale and the commercial agreements with the Snetor group, Omikron will be capitalized to support an ambitious growth and development project with the aim of doubling production and turnover in five years thanks to the development of new markets and new products. The project includes a strong commitment to sustainability and the production of the highest quality products with the use of post-industrial and post-consumer recycled materials for which the company obtained the Recycled Plastic certification last year.
The chairman of Snetor, Emmanuel Aubourg, commented: “We are extremely happy with this partnership which will allow Snetor to have access to the Italian market, the second most important European market, and to continue its development in Europe. Tecnopol and Snetor share the same values, a common vision and a clear strategy to create value for our customers and suppliers. The experience of the two groups will make Tecnopol Snetor become one of the most important players in the polymer distribution sector in Italy and Spain. Snetor will provide maximum support to Giancarlo, Alberto and our teams to make this ambition a reality. ”
Giancarlo Rizzi and Albero Borio, CEOs of Tecnopol, said: “We are very satisfied with the agreement reached with the Snetor group, between the two companies there is a strong commercial synergy and a perfect harmony in the ethical and vision-oriented management philosophy long-term, in addition to an excellent personal feeling. The agreement will allow the new Tecnopol Snetor and Omikron a strong synergy and important development”.