Itema, the world’s largest privately held provider of advanced weaving solutions, including best-in-class weaving machines, spare parts and integrated services, finalised the agreements to acquire 61 per cent of shares in Lamiflex, leading supplier of technical composite products, and a minority stake in NoeCha, provider of high-tech, wide-format printing solutions.
The acquisitions are part of a wider strategy of Itema and its shareholders, namely the Radici family with 60 per cent of shares and the Arizzi e Torri families with the remaining 40 per cent, to ultimately accelerate the continued expansion and secure the long-term profitability of Itema by diversifying into complementary, high-growth markets through stakes in innovation-driven companies which offer significant economies of scale to fuel the joint development of each others’ core businesses.
“Following a remarkable five-year period in which Itema Group has doubled the sales of its weaving machines with consecutive, double-digit growth per annum, the Company is now ready to strengthen its leadership, to quicken the pace of its expansion and to accelerate its global reach through targeted acquisitions,” said Carlo Rogora, CEO of Itema Group.
“We chose Lamiflex and NoeCha due to their forward-thinking missions and innovative approaches, which perfectly match our dedication to supply advanced machinery. Combining our strengths, we will no doubt reach new heights of success in the development and manufacturing of innovative, highly-technological products. Itema will guarantee to Lamiflex and NoeCha Customers worldwide structured organisation, based on lean manufacturing concepts in its world-class production sites and on a global network of agents and distributors,” continued Rogora.
Headquartered in Ponte Nossa, Bergamo province, Lamiflex specialises in composites materials, such as carbon, glass and Kevlar and offers a portfolio of innovative solutions and patented new products with exceptional versatility and adaptability for industrial applications, catering to industries as wide-ranging as weaving machinery, medical and aerospace, among others.