are the
key factor
to succede.
PROGRESSIO, ITALIAN EXCELLENCE IN THE MID-MARKET
Progressio SGR S.p.A. is an independent private equity firm focused on investing in Italian mid-market companies. The Firm, founded in 2005 is wholly owned by the management team.
Progressio focuses on investing in best-in class Italian companies which have leading positions in their respective sector through two institutional private equity funds Progressio Investimenti and Progressio Investimenti II and a portfolio of balance sheet investments on behalf of Mittel Private Equity.
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We promise, we commit, we deliver
Filippo Gaggini
Managing Partner
Filippo has more than 20 years of private equity experience. He began working in private equity as a vice president within the private equity division of Banca Commerciale Italiana.
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Angelo Piero La Runa
Partner
People first
Piero has more than 15 years of private equity experience. Prior to joining Progressio in 2005, he was an investment manager with Mittel Group (2000-2005) where he was involved in the assessment and execution of investment opportunities for Mittel Private Equity.
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Being good in business is the most fascinating kind of art (A. Warhol)
Nino Mascellaro
Partner
Nino has more than 15 years’ experience in private equity. Prior to joining Progressio in 2005, he was an investment manager at Centrobanca (an Italian Investment bank) in Milan (2000-2005).
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Guido De Vivo
Founder, Non-executive
The three most important things in private equity are management, management and management
Guido has over 30 years’ experience in private equity and led the management buyout of Progressio in 2009 having spent 18 years as CEO of Mittel between 1989 and 2007.
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Luciano Balbo
Chairman, Non-executive
Luciano has over 30 years’ experience in private equity as an entrepreneur. Before becoming chairman of Progressio, Luciano founded Fondazione Oltre, the first Italian venture philanthropy foundation.
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Alessandro d’Arco
Investment Director
Alessandro has more than 15 years of private equity experience. Prior to joining Progressio in 2007, he worked as a senior analyst for the advisory firm Livolsi & Partners (2004-2007).
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Alessandro Petraccia
Investment Director
Alessandro has has more than 10 years of private equity experience and prior to joining Progressio in 2008, he worked as analyst at Quadrivio SGR S.p.A. (2006-2007) a private equity firm based in Milan.
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Beatrice Capretti
Investment Manager
Beatrice has more than eight years’ private equity experience and prior to joining Progressio in 2009, she was a junior analyst in the leverage finance team at Unicredit Market & Investment Banking (Jan’08-Dec’08) in Milan.
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Massimo Dan
Associate
Massimo joined Progressio in 2014 with a short break in 2016 working as a senior associate at Dundee Sarea, an international mid-market private equity fund focused on special situations.
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Mattia Balagion
Associate
Mattia prior to joining Progressio in 2016, worked as an associate at Klecha & Co (2014-2016) an advisory firm based in Milan. Before that, Mattia worked as an auditor for Deloitte & Touche (2011-2014).
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Nicola Carbone
CFO
Nicola prior to joining Progressio in 2011, worked as an administrative officer at Investitori Associati (2007-2011) a private equity firm based in Milan.
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our investments
Sanlorenzo
sector
Fashion & Luxury
status
Realised
fund
Mittel Private Equity
entry date
April 2005
exit date
July 2008
business description
Design, manufacture and distribution worldwide of luxury fiberglass yacht and superyacht. Historical Italian shipyard founded in 1958, specialised in made-to-measure and customized vessels.
Vimercati
sector
Industrial
status
Realised
fund
Mittel Private Equity
entry date
January 2005
exit date
March 2008
business description
Tier 1 equipment manufacturer for the automotive market involved in the production of value added electromechanical and electronic components, switches, modules, mechatronic units and integrated devices.
www.vimercati.com
Moncler
sector
Fashion & Luxury
status
Realised
fund
Progressio Investimenti, Mittel Private Equity
entry date
February 2006
exit date
October 2008 (first investment), December 2013 (second investment).
At the time of divestiture of the first investment, Mittel Private Equity and Progressio Investimenti reinvested in the Company.
business description
Design, production and distribution worldwide of fashion and sportswear apparels through retail and wholesale channel. Brand with strong heritage and know how, founded in early 50’s in a mountain village near Grenoble (France). Over the course of the years it has merged style with ongoing technological research into its down jacket entering into town in the 1980s.
Publimethod
sector
Media
status
Realised
fund
Progressio Investimenti, Mittel Private Equity
entry date
March 2006
exit date
December 2015 (June 2009 for Mittel Private Equity)
business description
Leading player in the “media bartering” sector involved in the sale of advertising space in exchange for branded goods. These latter are sold to cardholders through the company’s network of outlets (direct) and to wholesalers or mass retailers (indirect).
www.publimethod.com
Rondine
sector
Industrial
status
Realised
fund
Progressio Investimenti
entry date
December 2006
exit date
June 2013
business description
Design, manufacturing and distribution of porcelain floor tiles for both internal and external use under own brands. Founded in 1961 and located in the ceramic district of Sassuolo (Italy), is recognised as an innovative player focused on search and development, quality, design and respect for the environment.
www.ceramicarondine.it
Mutuiplanet
sector
Services
status
Realised
fund
Progressio Investimenti
entry date
September 2007
exit date
January 2011
business description
Provider of retail loans and consumer credit products through a franchise model.
Chromavis
sector
Fashion & Luxury
status
Realised
fund
Progressio Investimenti, Progressio Investimenti II
entry date
February 2008 (February 2013 for Progressio Investimenti II)
exit date
July 2013
business description
One of the largest B2B developer and manufacturer of cosmetics products in the world with a complete range of solutions from make-up and nail polish to skin care products through formulas fully developed by its research laboratories. Borne from the merger of Gamma Cromma and Clavis, two Italian SMEs active in the B2B cosmetics sector.
www.chromavis.com
CLX Europe
sector
Services
status
Realised
fund
Progressio Investimenti
entry date
July 2008
exit date
April 2015
business description
Leading provider of integrated communication services (photography, pre-press, post-production, rendering, data storage services) specialized in supporting brands, retailers and agencies to create, manage and deliver media content globally to a multi-channel market.
www.clxeurope.com
Jal Group
sector
Industrial
status
Realised
fund
Progressio Investimenti II
entry date
July 2010
exit date
September 2013
business description
Design, manufacturing and distribution (under its own brands and for private label operators) of safety footwear, covering the intermediate/premium end market.
Gens Aurea
sector
Fashion & Luxury
status
Unrealised
fund
Progressio Investimenti II
entry date
April 2012
business description
“Integrated retail business” covering the entire value chain, from gold collection (the largest cash for gold in Europe) to a branded jewellery company through three business lines: Oro Cash, “retailer” involved in cash-for-gold and resale of second hand jewellery through a capillary network; Luxury Zone, jewellery stores dedicated to high-end jewellery with point of sales in the main designer outlets , Alfieri & St. John, a luxury jewellery brand.
www.orocash.it
www.luxuryzone.it
www.alfieristjohn.it
Duplomatic Oleodinamica
sector
Industrial
status
Realised
fund
Progressio Investimenti II
entry date
April 2013
exit date
March 2017
business description
Market leading niche player in precision mechanics involved in the manufacturing and distribution of hydraulic components (pumps, valves and cylinders) and hydraulic systems, with applications across many industrial sectors (machine tools, construction, light agriculture, ship building, traditional and renewable energy, metal forming and machinery).
www.duplomatic.com
www.continentalhydraulics.com
Italchimici
sector
Pharma & Chemical
status
Realised
fund
Progressio Investimenti II
entry date
July 2015
exit date
May 2016
business description
Leading generics pharmaceutical company in the Italian branded generics drug market specialized in treatment of respiratory and gastrointestinal disorders and focused on pediatrics. The three main brands are Reuflor, Peridon and Aircort.
www.italchimici.com
Giorgetti
sector
Fashion & Luxury
status
Unrealised
fund
Progressio Investimenti II
entry date
August 2015
business description
High-end Italian furniture manufacturer serving both private and corporate customers worldwide, covering projects for homes, offices, hotels, restaurants, etc. Founded in 1898 and headquartered in the design and furniture district, it is renowned globally as a prime example of Italian style and excellence. Its collections reflect local tradition and are distinguished by their iconic style and high quality and range from classical to contemporary.
www.giorgetti.eu
Industrie Chimiche Forestali
sector
Industrial
status
Unrealised
fund
Progressio Investimenti II
entry date
January 2016
business description
Production of chemical adhesives for industrial applications (including automotive, footwear and flexible packaging) and special fabrics used in the manufacturing of footwear. Set up in 1918 as a company specialized in the extraction of pyroligneous acid from wood for the production of adhesives, is an environmental friendly chemical company with outstanding technical know-how and a large base of no-solvents products.