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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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  • Corporate
    Governance

    Board of
    Directors

    Luciano Balbo

    Chairman, Non-executive

    Guido de Vivo

    Founder, Non-executive

    Filippo Gaggini

    Managing Partner

    Nino Mascellaro

    Partner

    Angelo Piero La Runa

    Partner

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

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 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.

www.monclergroup.com

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.

www.monclergroup.com

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.

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

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

status

Realised

fund

Progressio Investimenti, Mittel Private Equity

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

Fashion & Luxury

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

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

status

Unrealised

fund

Progressio Investimenti II

entry date

April 2012

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 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

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

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 no-solvents products.

www.forestali.it

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.

www.forestali.it

status

Unrealised

fund

Progressio Investimenti II

entry date

January 2016

Sanlorenzo
Vimercati
Moncler
Publimethod
Rondine
Mutuiplanet
Chromavis
CLX Europe
Jal Group
Gens Aurea
Duplomatic Oleodinamica
Italchimici
Giorgetti
Industrie Chimiche Forestali
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