Published on : Friday, February 24, 2017
Tecno, the historic brand founded in the 1950s by the Borsani brothers and led by Giuliano Mosconi since 2010, acquires a majority stake in Zanotta, one of Italian design’s most well-loved and important companies since the 1950s.
Tecno and Zanotta have two parallel stories, and they have decided to share their uniqueness, reputation and credibility to boost growth in the main international markets, aiming for a comprehensive offer for the contract and office system, the reference area of Tecno, as well as for the home and hospitality area, a sector in which Zanotta has always excelled.
The two companies are undertaking a common project that permits improved synergies and commercial possibilities at an international level and will be managed with the most wide-ranging respect for the particular characters and identities of the two brands.
Tecno has been experiencing constant growth in the last five years and ends 2016 with 32 million euros, 30% growth with respect to 2015. The Zanotta operation launches a new group with a revenue of 60 million euros in 2017 and future growth forecast of 20% a year.
Giuliano Mosconi, Tecno Chairman and CEO, says, “I’m pleased with this operation which boosts development potential in the main global markets and sees our presence both reinforced in the office furniture sector and renewed in the home and hospitality segment in general.”
Eleonora Zanotta, Chair of Zanotta, confirms this and continues: “I am certain that the contribution of our expertise and product quality will be a new element of overall growth and that this synergy can represent an appropriate response to the expectations of an increasingly competitive market.”
The advisors who accompanied the initiative were lawyer Paolo Tanoni, NASaW Avvocati, Avvocati Associati and Berg Advisors, who assisted Tecno, and PiGreco Corporate Finance, the firm Giornelli Mercati and the Patron law firm, who assisted the selling shareholders of Zanotta.