The transaction will support the growth and investments of the Veneto-based company, a leader in precision micromechanics. The Chairman: ‘We are aiming for organic growth and are looking with interest at business diversification”.
Susegana (TV), June 2022 – Visottica Group, a Veneto-based company, world leader in the production of eyewear components, has finalised the issue of a €5 million bond to support the Group’s growth and investments. The transaction, which will mature in 2029, was placed by Intesa Sanpaolo through the Corporate Finance Mid-Cap structure of the IMI Corporate & Investment Banking Division, which acted as an arranger, and it is part of the Intesa Sanpaolo Basket Bond programme, realised in partnership with ELITE, the private market of the Borsa Italiana Group.
“The disbursement of this bond and the support obtained from Intesa Sanpaolo represent a certificate of trust from the financial system towards our company and an unequivocal signal that the path and strategy we undertook are correct and successful,” emphasises Rinaldo Montalban, Chairman of the Visottica Group. During the past financial year, we invested around 11% of our total turnover, amounting to more than 9 million euros, of which 5 million in support of the production, 1.5 million for R&D, and 3 million for acquisitions. This bond puts us in a position to invest further to take advantage of additional opportunities that may arise. This translates into more services for our customers in the eyewear sector, which we have historically presided over, but also into the enhanced ability to move more and more in new directions and to explore new horizons by expanding our business areas. We aim for organic growth that revolves around our company values such as excellence, innovation, identity, attention to people, and respect for the environment“.
Visottica Group closed its 2021 consolidated financial statements with a turnover of EUR 86 million, up 46 percent from EUR 58.8 million in 2020. At the beginning of 2021, the Group took over 50% of Eurodecori, a company from Belluno specialising in the production and processing of Zamak parts. Last year, it also completed the acquisition of the majority of the capital of Ookii, a company specialising in precision micromechanics located in the Belluno eyewear district, and of Matrix (of which Ookii holds 100% of the capital), a leading company in the production of MIM (Metal Injection Molding) and precision casting components. Through this policy of strategic acquisitions, the Visottica Group has progressively broadened its offering, creating a technological hub of the highest level, unique in the world in terms of capacity and technology that can satisfy the widest range of customer needs.
The company – whose headquarters are located in Susegana (TV), near the heart of the most important eyewear district in the world – collaborates with the major players in the sector and is characterised by a remarkable international vision that has led it to leadership in the eyewear sector, while also strengthening its presence in rapidly developing markets, such as the industrial and fashion accessory sectors.