Milan, 4 March 2019 – Ethica Global Investiments (EGI) has acquired 90% of Osar Srl, a company that operates in the hot forging sector, with a focus on the production of polar rotors. These are a key component in alternators for the automotive sector. This is the third investment of EGI, after those of Getmycar in July 2018 and GIA S.p.A. in October of the same year.
EGI is the holding company promoted by Ethica Holding and owned by more than 20 Italian entrepreneurs and professionals, which to date has reached a budget of about 70 million euros.
“The EGI project – say the Managing Directors Ruggero Jenna and Francesco Sala – was born with the aim of investing in human and financial resources, leading to the creation of a portfolio of medium-sized Italian companies, with a turnover of between 10 and 30 million euros and smooth and efficient internal processes, exemplified by Osar. This acquisition increases the value of our portfolio and will ensure the company’s longterm growth.
Osar was founded in the 1960s in the Canavese area, a region with a long tradition in metallurgical activities. The Salvi Family, sole owners of the company, has sold the majority of the capital to EGI, while maintaining the management of the company, with the current Managing Directors, Nicola and Silva, grandsons of the founder.
The operation was financed by Cassa Centrale Banca. For EGI, the operation was followed by the Managing Directors, Ruggero Jenna and Francesco Sala, as well as by the Investment Manager Michele Dugnani, assisted by Studio Legale LCA.
The accounting due diligence was carried out by Deloitte, while Studio Terrin e Associati took care of the fiscal side and Inside Partners took care of the strategic due diligence. Osar was assisted by Studio Legale Benessia Maccagno, RSM Studio Palea Lauri Gerla of Turin for the tax aspects and Studio TS Commercialisti Associati for the business aspects.