Fondo Italiano di Investimento awill buy a minority stake in the capital of Brugola O.E.B. Industriale, an iconic company founded in Italy in 1926 by Egidio Brugola producing washers, special engine rings and the like.
A few years later production was diversified and expanded to the fastener sector, beginning almost immediately to produce hex socket bolts. In 1945 the company patented an hexagon socket head bold with spiral shank and became a leader in its market so that these kind of bolts are now commonly called “brugola” in Italy from the company’s name.
More in detail, Fondo Italiano will subscribe a capital increase investing 20 million euros which will be used to finance Brugola’s growth in the US and open a new plant in Michingan. The company was supported by Deloitte as financial advisor and by Giovannelli & Associati as for the legal issues.
Brugola had estimated revenues of 125 million euros in 2014.