Finproject

Ethica Corporate Finance advised Xenon Private Equity in the sale of Finproject

Ethica Corporate Finance advised Xenon Private Equity in the sale of the 49% stake in Finproject to the institutional investor VEI Capital.

Finproject, founded 50 years ago by the Vecchiola family as a manufacturer of leather soles, is today a vertically integrated Group in the compounding and molding of polyolefin based granules – with the XL EXTRALIGHT® brand – leveraging on a global presence with plants in Italy, Romania, Canada, Mexico, China and India.

Franco Prestigiacomo, CEO of Xenon Private Equity, commented: “The doubling of the Finproject Group’s Ebitda over 4 years, the establishment in new geographic markets and applications of polyolefin-based products are the result of a coherent implementation of the business plan at the base of our entry 4 years ago”.

Maurizio Vecchiola, CEO of Finproject, commented: “Having a new investor like VEI Capital, behind which there are primary Italian financial institutions, flatters us and gives us even more motivation to do well to be a company of public interest in the shortest time possible”.