A 5 billion giant, the first manufacturer of automatic machines in the world, with president Alberto Vacchi. The alliance project between the Bolognese Ima, the Vacchi family company, and the American ProMach takes shape. There has been talk for some time about a possible integration between the two entities, an idea confirmed by the president himself and Ima’s CEO in an interview with Repubblica.
But on Thursday there was a meeting with the unions in which the industrialist explained the operation in more detail, which will see the first meetings already in March between the two companies and should be concluded within a year and a half, with the future possible listing on Wall Street. During the meeting, the construction of a new 12 thousand square meter factory in Ozzano was also announced, where Ima will produce machines for the production of lithium batteries.
The unions had asked to meet to understand the repercussions of the maxi-operation which took place a month ago, with the entry in place of the BC Partners fund of the American investment bank Bdt&Msd Partners, led by the former Goldman Sachs manager Byron Trott, consultant among others to billionaire Warren Buffett, and who also includes Michael Dell of the computer empire among his partners. The bank entered Ima with a 49% stake, leaving the Vacchis in the majority, but the fact that last May the same bank had already bought 50% of the American ProMach hinted at the future.
We are moving towards an integration between the two companies, which will thus constitute a group with 5 billion in revenues, one billion in profits and around 12 thousand employees (in Bologna for Ima there are 3 thousand). The American fund asked Alberto Vacchi to remain president, who reassured him that there is no overlap and there is no risk of staff redundancies.
In the next few days, a hypothesis of a new organizational chart for Ima will be communicated which will accompany the operation, in March there will be the first operational meeting with ProMach and everything should be closed within a year and a half, with the creation of a holding company with Vacchi as president at the head of the two groups, which will maintain their own identity.
The exit from Ima of Gianluca Vacchi, Alberto’s cousin, has also been confirmed. While Leonardo Maria Del Vecchio has already entered the game, one of the sons of the founder of Luxottica, who invested 50 million for 1% of Ima, and Alessandro Benetton, number one at Edizione, who invested 120 million in one of the funds of Bdt&Mst, finding itself an indirect shareholder of Ima. «We are satisfied with the meeting and we will monitor the operation – explains Marco Colli, of Fiom Cgil – It would be a pride to export the Emilian model to the USA».