FORUM Family Office ("FORUM") acquires a majority stake in Vero Project S.p.A. in Italy.
FORUM Family Office ("FORUM") has acquired the majority of shares in Vero Project S.p.A. ("Vero Project") based in Concesio, Italy. Vero Project was founded in 2011 by Antonio Perini and Roberto Clauser, employs 29 people and generates sales of approximately €6 million.
The company specializes in software products for mold makers ("stampisti") and serves approximately 1,200 customers in Italy. It is the No. 3 software provider in this vertical segment.
Vero Project has a hybrid business model:
a) It is the only Value-Adding Reseller ("VAR") in Italy for certain production-related software products from the Swedish software company Hexagon AB.
b) It has developed a number of proprietary software products to complement these products, in particular QuickMONITOR for monitoring production data and QuickQuote for creating cost estimates for mold manufacturing.
Vero Project is FORUM's second investment in Italy, reinforcing the company's commitment to the Italian market. It is the third investment this year in the European software market.
As always, the FORUM investment ensures continuity: management, employees, location and the successful partnership with Hexagon will be maintained and expanded. In addition, FORUM will support Vero Project with its network and experience in internationalizing the business and strengthening its own product development. We will also leverage synergies with the FORUM Group company Mecmatica s.r.l., which operates in a related area of production software.
Roberto Clauser will retire as planned, Antonio Perini will remain CEO and drive the next growth phase together with FORUM. His comment on this transaction:
"We chose FORUM as a partner because we found the same operational, entrepreneurial and strategic vision in the company's people as our own. We are convinced that this partnership will result in a Vero Project that expands its market share in Italy in the field of molds and precision mechanics, with the goal of repeating this success on an international level."
FORUM invests the assets of a Munich family in medium-sized companies with a focus on software. FORUM's principles in the area of Family Equity are: permanent: we do not sell, decentralized: the companies in the group run their own business and entrepreneurial: we invest in opportunities - quite different from financial investors. This approach has already prompted over 35 founders to entrust their life's work to FORUM.
