Attestator completes acquisition of Padana Tubi and appoints new CEO
Padana Tubi, an Italian investment company, and Attestor, a British investment firm, have completed the acquisition, appointing Mariano Armengola as executive director and announcing a new board of directors.
The new management structure coincides with the entry of Attestor into the share capital of Padana Tubi as the majority shareholder.
"Deal… Reflects the intention to support Padana Tubi's future growth with a reliable, competent and long-term-oriented management structure," reads a joint statement obtained by Kallanish.
The Board of Directors consists of Chairman Claudia Alfieri, CEO Mariano Armengol, Angela Alfieri, Fabio Alfieri, Vice Chairman David Alhadeff, Ovi Petreaca and Matteo Zingaretti, the latter three representing Attestor.
"A new chapter opens for Padana Tubi today. We are determined to continue the company's growth path," comments David Alhadeff.
While, according to Armengol, Padana Tubi is "reliable, has deep roots, an excellent industrial platform and the ability to achieve results that few companies in Europe can match."
Last fiscal year, Padana Tubi's turnover amounted to 900 million euros ($1 billion), and the company employs 800 people.
Under the terms of the agreement, the Alfieri family will retain a significant minority stake and continue to play a central role in management and strategic direction.
Author: Natalia Kapra
Kallanish.com