Alban Giacomo Spa - AGB - based in Romano d’Ezzelino, Italian leader in the field of locking systems for doors, windows and curtains, signed a binding agreement for the purchase of the total capital of Bonaiti Serrature company, also based in Italy, Calolziocorte, active in design, manufacturing and sale of locking systems for internal and
external doors.

The acquisition permits to AGB to consolidate the own presence in the domestic and to strengthen in Europe, area in which Bonaiti Serrature has an important market share. AGB will also have a complementary range of magnetic locks and other innovative solutions, with particular interest for the world of furnishing. The integration of Bonaiti range in its product portfolio and synergies resulting, will enforce the leadership of AGB in the business.

The President of AGB, Giacomo Alban, declared “we are very satisfied with the conclusion of this operation. The acquisition of a family run and historical company like Bonaiti Serrature, which since 1936 has been designing and manufacturing a wide range of locking systems for doors, fits perfectly with the philosophy of our company – which is also a family run - and with the strategic plan that we are implementing. It allows us to increase our presence in some segments of the Italian market and in foreign markets in which Bonaiti holds a significant and
consolidated market share.

Maurizio Crippa, President of Bonaiti Serrature, added: "the sale of our company to a reality as important and solid as AGB is a great satisfaction: it is for Bonaiti Serrature a unique opportunity to grow again, becoming part of an industrial reality of excellence,
characterised by very high technological level of innovation. These aspects express and strengthen the willingness and the commitment of AGB to continue in supporting the development and growth plan, launched a few years ago by Bonaiti Serrature, by enhancing of its ideas and products and with the maintenance of the 60 human resources currently employed “.

Bonaiti Serrature closed the year 2020 with more than 9 million Euros of turnover, a slight increase despite the pandemic, the Ebitda at 1,4 million euros, and a positive net financial position.

The operation is expected to be completed in mid-April, with the simultaneous takeover of AGB in the strategic direction and corporate management of Bonaiti Serrature.

March 22nd, 2021

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