VISOTTICA GROUP acquires Ethos

What's on in Europe
November 09, 2022

Veneto-based company Visottica Group, a leader in the production of eyewear components, announces the acquisition of 60% of the share capital of Ethos S.r.l., a company specialising in galvanic processing for the eyewear and fashion sectors, based in San Zenone degli Ezzelini (Treviso, Italy). The operation is described as a further step in the industrial development path initiated by the Susegana company. Through a policy of targeted strategic acquisitions, Visottica has progressively expanded and integrated the Group's offer, creating a technological pole of the highest level in the world in terms of capacity and technology. "This new acquisition is particularly important for us, as it is part of a growth plan that we have been pursuing with conviction in recent years," says Visottica Group President Rinaldo Montalban. “The entry into our Group of a company of absolute excellence in the galvanic sector such as Ethos, allows us to provide our customers and partners with an even more complete package of skills and technologies, in order to better face our reference markets and the opportunities that new sectors may offer us. Despite the period of uncertainty and economic instability experienced globally, we have taken the decision to grow, looking at external opportunities. Ethos possesses highly specialised know-how and a wealth of valuable skills that are now part of our assets. This enables us to create professional synergies among the various companies that are already part of the Visottica Group". Ethos was founded in 2009 by Daniele Bernardi and Michele Segafredo, with the aim of transferring the know-how they had acquired for several years in the jewellery sector to the fashion industry. The company – which employs 18 people – specialises in galvanic processes on brass, zamak, iron, fashion accessories and leather goods, and can boast, among its customers, important names in the world of fashion and eyewear. The expected turnover for 2022 is around EUR 3 million, a significant increase compared to 2021. “The intuition of applying electroplating to the fashion industry proved to be a winner,” Bernardi and Segafredo state. “Today it is a widespread practice, but in 2009 we were pioneers. Joining today a structured reality like Visottica Group represents for Ethos a great opportunity to grow and acquire new skills. We are delighted to be able to make our specialised experience available within a technological production hub of absolute world excellence: we begin a new journey together with great enthusiasm, under the banner of the common values of quality and innovation."
The entry of Ethos into Visottica is part of a strategy that has enabled the Group to expand its offer and strengthen its global leadership. In 2021, the Group took over 50% of Eurodecori, a company from Belluno specialising in the production and processing of zamak parts; it completed the acquisition of the majority of the capital of Ookii, a company specialising in precision micromechanics located in the Belluno eyewear district and also of Matrix (in which Ookii holds 100% of the capital), a leading company in the production of MIM (Metal Injection Moulding) components and in precision casting. In recent months, Visottica Group finalised the issuance of a Euro 5 million bond to support the Group's growth and investments. The company – which closed 2021 with a turnover of Euro 86 million, up 46% from Euro 58.8 million in 2020 – collaborates with major players in the sector and is characterised by an international vision, which has led it to be an important player in the eyewear sector, while also structurally strengthening its presence in fast-developing markets, such as the industrial and fashion accessory sectors.

www.visotticacomotec.com

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