Salice Group Expands Horizons with Acquisition of Aitm

Two years ago, the Belgian investment firm Cobepa acquired a majority stake in Salice, a historic company based in Novedrate, Como.
Founded in 1926 by Arturo Salice in Cantù, the company has grown significantly over the years, reaching a revenue of 210 million euros in 2023.
With around a thousand employees, three production sites in Italy, and 12 foreign branches, Salice is a major player in the production of hinges and furniture accessories.

The new governance, led by a CEO appointed about a year ago, has set ambitious goals, including doubling the company's revenue within 5-6 years.
This growth is to be achieved through both organic means and strategic acquisitions, focusing on product diversification and market expansion.
The CEO emphasized the importance of consolidating existing market segments while also exploring new opportunities.

In line with this growth trajectory, Salice recently acquired Aitm, a small but solid company with a revenue of approximately 7 million euros.
Aitm specializes in 100% aluminum hardware solutions, a sector that Salice had not previously ventured into.
This acquisition will enable Salice to expand its portfolio to include extendable tables and transformable systems.
Additionally, Aitm stands to benefit from Salice's extensive international network, facilitating its growth in foreign markets.

The CEO of Salice explained that their products primarily target the "premium" segment of the market, which includes some of the most renowned Italian furniture brands.
However, the company is also making significant strides in the "value" segment.
While their primary markets are in Europe and North America, they are experiencing substantial growth in the Asia-Pacific and Middle Eastern markets, particularly in terms of volume.

The acquisition of Aitm is both functional and strategic for Salice's development.
It comes at a time when the furniture component sector has seen several interesting financial movements, involving various Italian companies.
The CEO noted that functional hardware is a relatively unknown but crucial sector, as it underpins the high-value and recognizable furniture industry.
Although the added value of components like hinges and guides is low compared to furniture, their quality often determines the market positioning of furniture products.

Globally, the furniture component sector is worth around 20-21 billion euros but is highly fragmented, especially in Italy.
This fragmentation underscores the need for consolidation to maintain competitiveness and enable international growth.
The CEO expressed the group's ambition to act as a "consolidation agent" in the sector, leveraging the momentum generated by the new ownership to present a unified front in the market.

In summary, the acquisition of Aitm by Salice is a strategic move that aligns with the company's broader goals of diversification and market expansion.
It highlights the critical role of functional hardware in the furniture industry and the necessity for consolidation in a fragmented market.
With the backing of Cobepa and a clear vision for the future, Salice is well-positioned to achieve its ambitious growth targets and strengthen its market presence globally.