(Italy) – Targetti Sankey S.p.A is now under the ownership of IDeA Capital Funds SGR.
Targetti Sankey S.p.A has announced that it is under the new ownership of the IDeA Capital Funds SGR. In addition to the new ownership, the Fund has appointed Italian native and industry veteran, Piercarlo Gramaglia, as the new CEO and Massimo Manelli, former CEO of Artemide, as President.
“Targetti is a perfectly aligned brand with the philosophy of the Fund, which identifies companies that have a strong growth potential for brands around the world,” remarked Francesco Gori and Vincenzo Manganelli, Managing Directors of the IDeA Capital Funds.
IDeA Capital Funds SGR acquired 100% of the company in February 2017. In order to accelerate the international growth of the Company, new investments are expected over the next several years. Dedicated resources will go to research, product innovation and a range of new product introductions, while large investment is aimed at accelerating the path of international development over the next several years by enhancing the important technological and design know-how and heritage of this historic Italian brand.
“60% of our production revenue can be accounted from our international exports with France and the U.S. as major contributors,” reported Targetti’s new CEO, Piercarlo Gramaglia. “We have placed a great emphasis on the continued development in America, where Targetti recently opened its subsidiary in 2015. We want to also concentrate on new growth markets such as Asia.”