Baosteel-Emarc operation

Operazione Emarc-Baosteel

Fast Direct Link collaborated on the acquisition of 75% of the capital of Emarc spa by the Chinese steel giant Baosteel.

Emarc is a Turin company active in the production of metal components from tubulars, profiles and molded parts, which boasts among its customers primary car manufacturers, including Renault group, as well as important partnerships with the FCA group.

Baosteel and President Pietro Passone also signed a capital increase aimed at strengthening the capital of Emarc and implementing the new business plan.
The Baosteel group had already been a partner of Emarc for some time and in particular in 2014, through its subsidiary Baosteel Metal, together with Emarc in Shanghai, it set up the Baomarc joint venture, owned 50% each of the two parties, with the aim of research and development of complete solutions for weight reduction of light vehicles to be presented to local car manufacturers.

Baosteel, through its own vehicle in Hong Kong, has acquired its 75% stake in the capital by accounting for 31% of the capital in portfolio to the Italian Investment Fund and the rest by MA srl and by the CEO Pietro Passone, who , together with the Passone family, will maintain a 25% stake.

Italian Investment Foud had invested in Emarc in July 2012, subscribing a capital increase of 10 million euros for 31% of the capital, which in the last report of the fund was valued at 7 million, after a write-down of 1.4 million in 2015 and a first devaluation for 1.6 million in 2014, against losses recorded in previous years. In November 2014, the fund also underwrote a million euro of a convertible bond maturing in 2022 issued for a total of 3 million and underwritten for the other 2 million by the other shareholders.

Founded in 1978 in Vinovo (Turin) by Pietro Passone, Emarc closed 2015 with 141.8 million euros in revenues, an EBITDA of 8.5 million, a net profit of 190 thousand euros (after a net loss of 4, 8 million in 2014 and one of 3 million in 2013) and a net financial debt of 9.6 million.
In 2013, Emarc set up a joint venture with Vari-Form, a leader in hydro-forming technology based in Troy, Michigan, to achieve volume growth by offsetting its advanced technologies in markets previously unrivaled through the establishment of Vari-Form majority manufacturing companies in Europe and the majority of Emarc in North America.