M&A

GTFAS assists CCE with the transfer to the Scrigno group

Milan, 3 October 2019 – Grant Thornton Financial Advisory Services have assisted CCE (Costruzioni Chiusure Ermetiche Srl) with the transfer of 100% of its share capital to the Scrigno group, global leader in the industry of counter frames for retractable sliding doors and windows and reinforced doors. The two companies will thus share expertise and technological know-how to provide a wide range of innovative solutions.

Established in 1980 by Mr. Luigi Geron, chairman, and located in Villa del Conte (Padova), CCE is an Italian cutting-edge business designing, manufacturing and distributing gaskets and accessories enhancing the energy savings, acoustic insulation, weather and fire resistance performances of door and window frames. Lead by Luca Geron, general manager and son of the founder, CCE attained a turnover of approx. 11 million Euro, 40% of which abroad, thanks to its presence in over 30 Countries. Sante Maiolica, CEO of Grant Thornton Financial Advisory Services, together with his team made up by Giovanni Menna and Salvatore Celozzi, assisted the Geron family with the transfer operation.

Sante Maiolica declared: “We had the pleasure to assist the Geron family, owner of CCE, with the transfer of 100% of the company’s share capital to the Scrigno group, the global leader in the industry. With this new operation, Scrigno will become a major player in cutting-edge technical solutions for all types of doors. CCE is an Italian business owner of various innovative patents acquired thanks to its focus on technological innovation, which represents the true asset of the company. The acquisition of CCE by the Scrigno Group, currently controlled by the private equity fund Clessidra, falls within the group’s build-up strategy aimed at widening its offering of cutting-edge technological systems for doors through the aggregation of similarly innovative companies”.

The closing of the operation announced today is set for end October.