Star Capital SGR S.p.A. sold its majority stake of GLM S.p.A., a world leader in automotive components, to Remus Holding GmbH, a first-tier supplier of exhaust systems for the automotive and motorcycle industry and the aftermarket.

The selling shareholders and GLM S.p.A. were assisted in the transaction by the Mid Cap Advisory team of EQUITA, exclusive partner of Clairfield in Italy, Studio D'Incecco, Chartered Accountants in Pescara, and Studio Giliberti Triscornia e Associati, as legal advisors. Remus Holding GmbH was assisted by Deloitte Financial Advisory GmbH, the firm Gecić Law, the firm Von Wobeser y Sierra, S.C, the firm Fellner Wratzfeld & Partner Rechtsanwälte GmbH and the firm PedersoliGattai.

Peppino Barlafante, founding partner of GLM S.p.A., sold part of his shares held in GLM S.p.A., retaining a minority interest and continuing to be present in the Group's management, with an operational role.

Mr. Mauro Casales will retain the position as Group CEO.

With this transaction, Remus Holding GmbH acquired a stake of broad control in GLM S.p.A.

GLM S.p.A., based in Castellalto (Teramo, Italy), is a world leader in the production and distribution of metal components and accessories for the automotive sector, in particular components for exhaust systems. Manufacturing activities are carried out in three Italian plants located in Castellalto (Teramo), Villa Zaccheo (Teramo) and San Giovanni Teatino (Chieti), besides the plant located in Mexico and the one located in Serbia. The Group, operating with world's leading OEMs, has put in a steady growth trend in recent years, reaching in 2023 consolidated revenues of about €88 million (about €79 million in 2022), consolidated EBITDA of about €9.3 million and with about 680 employees. By 2024, the Group expects to achieve total revenues of about €100 million.

Star Capital SGR is an independent company that has been managing closed-end private equity funds since November 2002. It currently manages closed private equity funds, mostly subscribed by foreign institutional investors and with the focus on small to medium-sized Italian companies. Star Capital specializes in supporting the international growth process of companies in its portfolio.

REMUS Holding GmbH is a leading manufacturer of exhaust systems for the automotive and motorcycle industry. With state-of-the-art production facilities and a strong R&D department, REMUS offers innovative solutions and high-quality products for OEMs worldwide. In 2023, REMUS achieved sales of 236.7 million euros, almost double the 2020 figure, confirming the Group's strong economic development.