IMA signed an agreement with Matteo Gentili and some minority shareholders for the purchase of 82,5% shares in TMC S.p.A., based in Castel Guelfo (Bologna), which manufactures and markets automatic machines for packaging and management of Tissue and Personal Care products and related after-sales services.
TMC was founded in 1997 on the initiative of Vanni Angeli, Matteo Gentili and Valter Marcolini and has built up over time an undisputed leadership at international level in various market niches, such as primary and secondary packaging of kitchen rolls and toilet paper rolls, secondary packaging of personal care products such as baby diapers, adults and feminine care products.
For IMA, the transaction entails an outlay of some 58,5 million euros, to be paid at the closing, which is expected to take place by the first ten days of May 2018 and the signing of put & call options on the other 17,5% of the shares, to be exercised by April 2023.
Alberto Vacchi, Chairman and CEO of IMA, commented as follows: “The transaction we are announcing is strategic for the IMA Group and the partnership with Matteo Gentili, using TMC as a platform for the development of the project, will allow us to create an undisputed leading international hub in Tissue and Personal Care sectors. With this deal IMA continues to enhance leading market brands, while further increasing and strenghtening its industrial presence in Italy”.
Matteo Gentili, Chairman of TMC, commented:” This transaction is of great satisfaction to us. In IMA we have identified the best partner to continue our company’s development and to reach more technological and commercial goals in the Tissue and Personal Care sectors. By joining the Ima Group, we are certain that we can accelerate our project of technological reinforcement, product development and geographical expansion. Personally, I will remain in the forefront of the TMC Group’s strategic management, our interests being totally aligned with those of IMA, with the aim of making TMC the global point of reference in terms of technology, service and attention to the customer”.