Milan, January 31st 2019. Progressio Fund III has finalized the acquisition of a majority stake in Gampack.
Gampack is a specialized manufacturer of secondary packaging machinery with a strong international presence – 80% of revenues are derived outside of Italy.
Founded in Podenzano (Piacenza) in 2004, Gampack is active in the production of machinery and systems for secondary packaging (shrink wrappers and cardboard packers) focused on the beverage sector. Due 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.
Gampack was founded by Luciano Gandini and Giuseppe Gazzola. After years of growth, Progressio was selected as the ideal partner to support the next phase of development. Giuseppe Gazzola will assume the role of President and will continue to contribute his experience and leadership to firm. Progressio has designated Amedeo Scapin, a manager with extensive experience in the sector, as the new CEO of the company with the aim of preparing Gampack for the future. The current organizational structure, which has contributed to the excellent results achieved so far, will be strengthened by the inclusion of a team of new managers with extensive sector experience.
Progressio has acquired a majority stake in Gampack, while Gazzola and Gandini will retain a significant minority; the new CEO has also invested personally in the new structure.
The growth strategy for Gampack includes, expansion into new geographies (current sales are current very concentrated in Spain, Italy and France), widening of the product portfolio (such as palletizers and conveyors), strengthening presence in other sectors (pharmaceuticals, cosmetics and additional food). These growth objectives can be achieved organically, but also through acquisitions (some potential targets have already been identified).
Giuseppe Gazzola said: “Creating a company capable of meeting the needs of customers is an exciting experience. For new growth, new resources will be needed, and I am convinced that Progressio will contribute to balanced growth, not only of the production capacity, but also in service, in order to preserve and – if possible – increase the level of customer satisfaction “.
“After years of working in big multinationals, I felt ready to accept new challenges, including the transition from manager to entrepreneur” says Amedeo Scapin. “Despite being a small company, Gampack has achieved an excellent positioning and has a great unexpressed potential that can be exploited in the next years “.
Alessandro d’Arco, head of the investment team that also includes Giovanni Vettore, said: “Gampack has the characteristics that we typically look for in our investments: a hidden champion that has developed a successful product and that is already capable to compete in international markets. With Amedeo Scapin and our support Gampack will be able to exploit its great potential, possibly also through add-ons “.
Progressio was assisted by EY for the financial and business due diligence and by Russo De Rosa & Associati firm for legal, tax and labor law. Gampack shareholders were assisted by Gobbi & Associati as financial advisor and Studio Pedersoli for the legal part.