Ennio Franceschetti, co-founder and honorary chairman of Gefran, acquired 45.98% of Fingefran, which controls Gefran.
Gefran, listed in the Star segment of the Italian Stock Exchange, is based in Provaglio d’Iseo (Brescia) and operates in three main areas: industrial sensors, automation components and electric motor control drives. The group supplies a wide range of products and tailor-made solutions in different automation sectors and generates about 70% of its turnover abroad, including via production facilities in several countries. In 2019, Gefran achieved a turnover of approx. € 140m.
The purchase increases the Ennio Franceschetti shareholding to 100% of the voting rights in Fingefran, the company, after the closing, with a 53.02% stake in Gefran.
The terms of the transaction included cash for the heirs of Giacomo Franceschetti, who purchased a 7.17% stake in Gefran.
Corus assisted Ennio Franceschetti as financial advisor in the structuring of the transaction, negotiation and funding of the acquisition financing.