Valvitalia acquires 100 per cent of Silvani from United Technologies

Submitted by Paddy Harris on Mon, 2014-12-01 11:09

01st December 2014

Valvitalia, the leading Italian manufacturer of valves and other equipment for the oil and gas, power, water transmission and defence industries, has closed the acquisition of 100 per cent of the share capital of Silvani S.r.l., located in Guanzate (Como) from UTC Building & Industrial Systems, a part of United Technologies Corporation, a leading provider to the aerospace and building systems industries worldwide

Valvitalia acquires 100 per cent of Silvani from United Technologies

Thanks to the widespread presence of Valvitalia in over 105 countries, significant synergies are expected from this transaction. Source: Valvitalia

Founded in 1938, Silvani engineers and produces fire fighting systems and operates in the same industries of Valvitalia.

Thanks to the widespread presence of Valvitalia in over 105 countries, significant synergies are expected from this transaction.

Silvani’s acquisition is part of the strategic growth plan agreed between the founder Salvatore Ruggeri, major shareholder of the group through the family holding company Finvalv, and Fondo Strategico Italiano (80 per cent Cassa Depositi e Prestiti and 20 per cent Banca d’Italia) which invested in Valvitalia with a stake of 49,5 per cent in January 2014.

The plan is to double the present size of the group and list Valvitalia on the Milan Stock Exchange. Valvitalia was recently admitted to the Elite Large Corporate programme.

Valvitalia, which will close fiscal year 2014 with growing results over an already outstanding 2013, owns nine plants, five of which in Italy, and employs 1,070 people.

Valvitalia was advised by BANCA IMI while legal counsel was Gianni, Origoni, Grippo, Cappelli & Partners.