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EFFEZETA CHOOSES NOVIUM FOR DEVELOPMENT The Agreement grants Effezeta additional competences and tools for a stable recovery and a faster growth. Udine, March 18th, 2010. EFFEZETA SpA, a leader in the chairs, tables and other furniture market from Premariacco, welcomes its new Partner NOVIUM, a swiss Private Equity Fund. The founding shareholders keep a significant stake in the Company, equal to 47%, and continue to contribute to the business with clear roles to support the new management. With Revenues around 30 million Euro, Effezeta has been subject to, as well as happened to all the other players, the fierce price competition from low cost countries manufacturers and the world economic crisis. Effezeta, mostly dedicated to export markets, generates more than half of its income in the United Kingdom, Germany, Russia, and several eastern european Countries. Novium contributes, in addition to the financial commitment, with two highly experienced managers with significant foreign exposure. “We are truly pleased to have found in Novium the right Partner to pursue our growth strategy focused mainly in boosting all our processes efficiency. This deal allows us to look much more comfortably to the future.” says Gianfranco Baccaro, Chairman of the Board. EFFEZETA Effezeta has acquired almost thirty years of experience in the furniture sector manufacturing and distributing worldwide its vast range of multi-purpose chairs, tables and furnishing accessories in wood and metal. From its beginnings as a craftsman’s workshop in 1979, Effezeta has grown into its own factory of 45,000 sq.m located near Udine in the very heart of the chair manufacturing district in Italy. Know-how, experience and the desire to experiment lie behind the firm’s on-going success and its supply of top quality, contemporary design chairs and furnishings guaranteed “Made in Italy”. Research, technological innovation and creativity that are based on typically Italian style have made Effezeta a true specialist in comfort and able to keep abreast of the trends and demands of different world markets. NOVIUM Novium is an Asset management firm registered in Switzerland, offering innovative investment solutions aimed at successfully combining the small-medium enterprise need for fresh capital for its turnaround and development together with expanding the Wealth Management investment opportunities and the available experience and expertise of skilled managers in the territory. Novium manages several funds, for the public or for professinal investors, and is a Member of Verein zur Qualitätssicherung von finanzdienstleistungen (VQf - the Association for granting quality in financial services) that is the largest self-discipline Association officially acknowledged by the Swiss Finance Authority. Novium is active via a Private Equity Fund focused on investments in small medium enterprises that, no matter the actual economical and financial situation, show a significant potential for growth and value creation. |
