Olivotto Industries Spa, a historic Turin-based brand, is buying the Antas company of Saronno (VA).

Today, funds participated by the French group Natexis, and followed by Cimino & Associati Private Equity, one of the most active Italian players in the small cap sector, are underwriting a minority stake in Olivotto Industries through a capital increase worth about 5 million euros.

On behalf of Olivotto Industries, the transaction was followed by K Finance of Milan and Studio Bonelli & Associati of Turin.

At the end of 2000, entrepreneur Giulio Napoli, the current chairman and CEO, took over the company, which was on the brink of bankruptcy at the time, and turned it into profit in less than two years (EBITDA is now more than 20 %). The acquisition of Antas eventually enabled the completion of the range of hollow glass forming machines.

Olivotto Industries is a world leader in the manufacture of press-blow molding machines for the production of tableware and especially quality tumblers. The Company is also active in the production of reheating and industrial heat treatment furnaces. The Company's total sales in 2003 are expected to be approximately 12 million euros.

The acquired Antas Company, is a world leader in the construction of presses for the production of tableware and quality glasses and has a turnover of approximately 10 million euros.