Azimut acquires stake in Sicer

The Demos 1 Fund, managed by Azimut Libera Impresa SGR, is investing in Sicer. The company will continue to be managed by the current partners Gianfranco Padovani and Giuliano Ferrari.

Azimut Group, one of the most important European players in the asset management sector, acquires a stake in Sicer SpA in place of the shareholder B Group, the Bologna-based holding company that has supported the company through its last 5 years of growth and internationalisation.

The acquisition was closed on 26 November, whereby the private equity fund Demos 1, controlled by Azimut Libera Impresa SGR, acquired a 65% shareholding in the well-known Italian ceramic tile producer. The company will continue to be managed entirely by the current shareholders, with Gianfranco Padovani reappointed Chairman and Giuliano Ferrari CEO.

Sicer, based in Fiorano Modenese, has production plants in Italy, Spain, Mexico, Indonesia, Poland, Turkey and India and in 2019 posted a turnover of 73 million euros. Azimut’s participation was strongly backed by the existing shareholders and will allow Sicer to continue its ambitious expansion programme based on internal growth and acquisitions.