21 Invest Italy is pleased to announce that it has entered into a binding agreement to acquire a majority stake in Zanzar, European leader in the development and production of insect screens based in the South of Italy.
Founded in 1985 by Angelo L'Angellotti, Zanzar was at first focused on the production of insect screens and then enlarged its product offer to other window accessories like shutters, blinds, awnings and pergolas thanks to recent acquisitions.
Zanzar is still managed by the founder and has experienced a strong growth over the years, reaching a total turnover of about €M 80, 35% of which is generated on international markets with a total workforce of 400 employees.
Across its 11 production sites, Zanzar has developed an extremely efficient operating model, that ensures customers can experience a high level of service and quality, with extremely fast delivery times. The continuous investments made over the years and still underway will provide the company with significant room to grow, both increasing penetration in already served markets and expanding its international footprint.
21 Invest will support the company’s development on an organic basis, including the integration of the companies acquired in the past years, as well as, through a build-up strategy, with a number of potential targets already identified in order to expand product range and market coverage.
The current management team will continue running the company, headed by the Chairman Angelo L'Angellotti. The project also envisages the managerialization of the company, through the involvement of professionals, either already with the company or to be recruited, with the ultimate aim of strengthening Zanzar's organizational structure.
Alessandro Benetton, Founding Managing Partner of 21 Invest states: “We are delighted to support Zanzar in pursuing further development. Partnering with an entrepreneur and a company that over the years have shown enormous potential is at the basis of our investment strategy. I firmly believe that the synergy between Zanzar's DNA and 21 Invest's industrial approach will allow the group to further strengthen its leadership position in the sector, further accelerating the growth path developed over time."
Angelo L’Angellotti, Chairman of Zanzar, affirms: “The partnership with 21 Invest is a milestone in a journey that began more than 35 years ago. With 21 Invest we will be stronger and ready to take on future growth opportunities in Italy and abroad, both organically and through add-on acquisitions.”
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