Hard working
Soft skills
.

Hard Working, Soft Skills

The senior partners of the firm, Filippo Gaggini, Angelo Piero La Runa and Nino Mascellaro, have developed a highly skilled and cohesive investment team capable of maximising returns throughout Progressio’s portfolio companies. The investment team also benefits from the extensive experience and network of Guido de Vivo and Luciano Balbo both of whom are members of the Board of Directors and senior advisors to Progressio.

We have a dynamic and open culture and we strongly believe in trust, transparency and open communication between all team members.

We believe that some of the key competitive advantages for our success are our willingness to tailor transaction structures, a deep sector-specific approach and our perseverance and capability to deliver strong results for our diversified investor base.

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  • Corporate
    Governance

    Board of
    Directors

    Luciano Balbo

    Chairman, Non-executive

    Guido de Vivo

    Filippo Gaggini

    Nino Mascellaro

    Angelo Piero La Runa

We promise, we commit, we deliver

Filippo Gaggini

Managing Partner

Filippo has more than 25 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

Senior Partner

People first

Active in private equity since 2003, Piero prior to joining Progressio in 2005, was an investment manager with Mittel Group.

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Being good in business is the most fascinating kind of art (A. Warhol)

Nino Mascellaro

Senior Partner

Nino started his experience in private equity in 2001. 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 Chairman

The three most important things in private equity are management, management and management

Guido has over 35 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

Independent Deputy Chairman

Luciano has over 30 years’ experience in private equity as an entrepreneur. In in 2006 he launched the innovative Social Investment Fund, Oltre Venture.

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Alessandro d’Arco

Partner

In private equity since 2003, prior to joining Progressio in 2007, Alessandro worked for the advisory firm Livolsi & Partners and for the private equity firms Convergenza and Paladin Capital Partners.

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Alessandro Petraccia

Partner

He started his experience in private equity in 2006 and prior to joining Progressio in 2008, Alessandro worked at Quadrivio SGR S.p.A., a private equity firm based in Milan.

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Beatrice Capretti

Investment Manager

Beatrice is in the private equity industry since 2009 when she joined Progressio. Before that she was a junior analyst in the leverage finance team at Unicredit Market & Investment Banking in Milan.

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Massimo Dan

Investment Manager

Massimo started his experience in private equity in 2014 when he joined Progressio. Prior to that, he worked as associate for the advisory firm Klecha & Co.

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Giovanni Vettore

Associate

Giovanni is active in private equity since 2014. Prior to joining Progressio in 2018, he worked at the private equity firm Finint & Partners.

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Simone Assanelli

Analyst

Simone prior to joining Progressio in 2019, worked in the Financial Sponsor Solutions team at Unicredit Corporate & Investment Banking in Milan.

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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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Cristina Bonaccorsi

Assistant

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Francesca Guardamagna

Assistant

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our investments

Sanlorenzo

sector

Fashion & Luxury

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.

www.sanlorenzoyacht.com

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.

www.sanlorenzoyacht.com

status

Realised

fund

Mittel Private Equity

entry date

April 2005

exit date

July 2008

Vimercati

sector

Industrial

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

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

status

Realised

fund

Mittel Private Equity

entry date

January 2005

exit date

March 2008

Moncler

sector

Fashion & Luxury

business description

Design, production and distribution worldwide of fashion and sportswear apparel 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.

www.monclergroup.com

sector

Fashion & Luxury

status

Realised

fund

Mittel Private Equity, Progressio Investimenti

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 apparel 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.

www.monclergroup.com

status

Realised

fund

Mittel Private Equity, Progressio Investimenti

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.

Publimethod

sector

Media

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

sector

Media

status

Realised

fund

Mittel Private Equity, Progressio Investimenti

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

status

Realised

fund

Mittel Private Equity, Progressio Investimenti

entry date

March 2006

exit date

December 2015 (June 2009 for Mittel Private Equity)

Rondine

sector

Industrial

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

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

status

Realised

fund

Progressio Investimenti

entry date

December 2006

exit date

June 2013

Mutuiplanet

sector

Services

business description

Provider of retail loans and consumer credit products through a franchise model.

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.

status

Realised

fund

Progressio Investimenti

entry date

September 2007

exit date

January 2011

Chromavis

sector

Fashion & Luxury

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

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

status

Realised

fund

Progressio Investimenti, Progressio Investimenti II

entry date

February 2008 (February 2013 for Progressio Investimenti II)

exit date

July 2013

CLX Europe

sector

Services

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

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

status

Realised

fund

Progressio Investimenti

entry date

July 2008

exit date

April 2015

Jal Group

sector

Industrial

business description

Design, manufacturing and distribution (under its own brands and for private label operators) of safety footwear, covering the intermediate/premium end market.

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.

status

Realised

fund

Progressio Investimenti II

entry date

July 2010

exit date

September 2013

Gens Aurea

sector

Other

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

sector

Other

status

Realised

fund

Progressio Investimenti II

entry date

April 2012

exit date

November 2019

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

status

Realised

fund

Progressio Investimenti II

entry date

April 2012

exit date

November 2019

Duplomatic Oleodinamica

sector

Industrial

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

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

status

Realised

fund

Progressio Investimenti II

entry date

April 2013

exit date

March 2017

Italchimici

sector

Pharma & Chemical

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

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

status

Realised

fund

Progressio Investimenti II

entry date

July 2015

exit date

May 2016

Giorgetti

sector

Fashion & Luxury

business description

High-end Italian furniture manufacturer serving – also through the controlled company Battaglia Interior Contractors (acquired in 2018) – both private and corporate customers worldwide, covering projects for homes, offices, hotels, restaurants, fashion retail and super-yachts 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
www.battagliacontract.com

 

sector

Fashion & Luxury

status

Unrealised

fund

Progressio Investimenti II

entry date

August 2015

business description

High-end Italian furniture manufacturer serving – also through the controlled company Battaglia Interior Contractors (acquired in 2018) – both private and corporate customers worldwide, covering projects for homes, offices, hotels, restaurants, fashion retail and super-yachts 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
www.battagliacontract.com

 

status

Unrealised

fund

Progressio Investimenti II

entry date

August 2015

Industrie Chimiche Forestali

sector

Industrial

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 solvent free and water-based products.

www.forestali.it

sector

Industrial

status

Realised

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 solvent free and water-based products.

www.forestali.it

status

Realised

fund

Progressio Investimenti II

entry date

January 2016

Garda Plast

sector

Industrial

business description

Production of preforms in P.E.T. which are blown into bottles by the customer and then filled mainly with water, soft drinks, milk and detergents. Garda Plast Group – which includes the controlled company Ifap (acquired in 2018) – is a leading Italian player with a long-lasting presence in the reference market, a strong know-how and a state-of-the-art production facilities.

www.gardaplast.it

www.ifap.it

sector

Industrial

status

Unrealised

fund

Progressio Investimenti II

entry date

July 2017

business description

Production of preforms in P.E.T. which are blown into bottles by the customer and then filled mainly with water, soft drinks, milk and detergents. Garda Plast Group – which includes the controlled company Ifap (acquired in 2018) – is a leading Italian player with a long-lasting presence in the reference market, a strong know-how and a state-of-the-art production facilities.

www.gardaplast.it

www.ifap.it

status

Unrealised

fund

Progressio Investimenti II

entry date

July 2017

Save The Duck

sector

Fashion & Luxury

business description

Design and distribution of premium puffer jackets and outerwear apparel, 100% animal-free and with a unique balance between quality/style and affordability. Created in 2012, the brand is recognized worldwide for its top quality products and strong storyline based on respect for animals and sustainability.

www.savetheduck.com

sector

Fashion & Luxury

status

Unrealised

fund

Progressio Investimenti III

entry date

March 2018

business description

Design and distribution of premium puffer jackets and outerwear apparel, 100% animal-free and with a unique balance between quality/style and affordability. Created in 2012, the brand is recognized worldwide for its top quality products and strong storyline based on respect for animals and sustainability.

www.savetheduck.com

status

Unrealised

fund

Progressio Investimenti III

entry date

March 2018

Gampack

sector

Industrial

business description

Production of machinery and systems for secondary packaging (shrink wrappers and cardboard packers) focused on the beverage sector. Founded in Podenzano (Piacenza) in 2004, in the so-called “Italian packaging valley”, thanks to the solidity, reliability and speed of its machines and to the high level of service provided to the customer, the company has established a specific niche and is a prominent player in the sector.

www.gampack.com

sector

Industrial

status

Unrealised

fund

Progressio Investimenti III

entry date

January 2019

business description

Production of machinery and systems for secondary packaging (shrink wrappers and cardboard packers) focused on the beverage sector. Founded in Podenzano (Piacenza) in 2004, in the so-called “Italian packaging valley”, thanks to the solidity, reliability and speed of its machines and to the high level of service provided to the customer, the company has established a specific niche and is a prominent player in the sector.

www.gampack.com

status

Unrealised

fund

Progressio Investimenti III

entry date

January 2019

Gelit

sector

Food & Beverage

business description

Production of private label frozen ready meals sold in Italy and abroad. Recognised for its ability to develop new recipes and the extensive production flexibility in its Cisterna di Latina-based plant position, Gelit is the key first-meal and crepes private-label supplier for most of the main Italian Large Scale Retailers. Gelit realize an important part of the revenues abroad, in particular in the United States.

www.gelit.it

sector

Food & Beverage

status

Unrealised

fund

Progressio Investimenti III

entry date

May 2019

business description

Production of private label frozen ready meals sold in Italy and abroad. Recognised for its ability to develop new recipes and the extensive production flexibility in its Cisterna di Latina-based plant position, Gelit is the key first-meal and crepes private-label supplier for most of the main Italian Large Scale Retailers. Gelit realize an important part of the revenues abroad, in particular in the United States.

www.gelit.it

status

Unrealised

fund

Progressio Investimenti III

entry date

May 2019

Damiano

sector

Food & Beverage

business description

Production and sale of organic almonds and other organic dried fruit since 1964. Damiano’s range of products includes whole nuts, spreads and butters sold to specialized and large scale retailers as well as food processing companies . All the products are strictly organic: a pioneering vision led Damiano becoming the market leader for organic almonds

www.damianorganic.it

sector

Food & Beverage

status

Unrealised

fund

Progressio Investimenti III

entry date

July 2019

business description

Production and sale of organic almonds and other organic dried fruit since 1964. Damiano’s range of products includes whole nuts, spreads and butters sold to specialized and large scale retailers as well as food processing companies . All the products are strictly organic: a pioneering vision led Damiano becoming the market leader for organic almonds

www.damianorganic.it

status

Unrealised

fund

Progressio Investimenti III

entry date

July 2019

Polenghi Food

sector

Food & Beverage

business description

Marketing and distribution of lemon / lime juice products for the food dressing industry, with a relevant part of the business in the organic niche. The own brands are leaders across the reference markets. Founded in 1976 and located in Piacenza, the group has productive and commercial subsidiaries across Europe and USA and sell its product mostly to modern trade in more than 80 countries worldwide.

www.polenghigroup.it

sector

Food & Beverage

status

Unrealised

fund

Progressio Investimenti III

entry date

August 2019

business description

Marketing and distribution of lemon / lime juice products for the food dressing industry, with a relevant part of the business in the organic niche. The own brands are leaders across the reference markets. Founded in 1976 and located in Piacenza, the group has productive and commercial subsidiaries across Europe and USA and sell its product mostly to modern trade in more than 80 countries worldwide.

www.polenghigroup.it

status

Unrealised

fund

Progressio Investimenti III

entry date

August 2019

Interni

sector

Fashion & Luxury

business description

Leading player in the design and distribution of top luxury furniture since 1933, offering tailor-made services to its high-end clients. Interni operates through a network of multi-brand and mono-brand stores offering its renown desing experience in partnership with the best manufacturers and editors of the industry.

www.internionline.it

sector

Fashion & Luxury

status

Unrealised

fund

Progressio Investimenti III

entry date

October 2019

business description

Leading player in the design and distribution of top luxury furniture since 1933, offering tailor-made services to its high-end clients. Interni operates through a network of multi-brand and mono-brand stores offering its renown desing experience in partnership with the best manufacturers and editors of the industry.

www.internionline.it

status

Unrealised

fund

Progressio Investimenti III

entry date

October 2019

Sanlorenzo
Vimercati
Moncler
Publimethod
Rondine
Mutuiplanet
Chromavis
CLX Europe
Jal Group
Gens Aurea
Duplomatic Oleodinamica
Italchimici
Giorgetti
Industrie Chimiche Forestali
Garda Plast
Save The Duck
Gampack
Gelit
Damiano
Polenghi Food
Interni
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