NB Renaissance Partner, a private equity fund has acquired controlling interest of Uteco with the purchase of 81% of the Italian manufacturer’s shares.
The top management of the Uteco group, formed by Aldo Peretti CEO, Simone Quinto CFO and Stefano Russo COO, decided to reinvest in the company, with the commitment to continue to manage it independently and continue the strong growth of recent years.
The current majority Shareholders have also reinvested in minority shares of the new company.
Mr Peretti commented, ‘Today marks for Uteco the beginning of a new phase, characterised by new growth opportunities and technological advancements, investments in new production capacity (the fourth plant in Italy will be operational by year end), reinforcement of the company’s positioning worldwide and selected strategic acquisitions, with the objective of making Uteco a key market reference and centre of excellence for Made in Italy worldwide.’
Mr Quinto added, ‘Up until now, Uteco has grown internally, and now the second phase of development begins, involving the increase in critical mass through acquisitions in various sectors of printing and converting and the worldwide expansion of all after sales activities.’
