FITT’s path towards internationalisation continues to progress, spurred by a global vision coupled with local action. Following the acquisition of Claber and the start of the construction of the USA plant, ATE, a French company specialising in drainage pipes for construction, infrastructure and civil engineering applications, has now also joined the Group. The M&A strategy of FITT aims at shortening the value chain by bringing production and logistics services closer to the target markets.
With its subsidiary FITT France, the FITT Group has had a constant presence in France since the early 2000s. The subsidiary has two production sites in the north of the country, a logistics site and a sales office in the south, and a commercial branch located in the Principality of Monaco but operating on the French market. With the acquisition of ATE, which has become part of the Group’s Building Division, FITT strengthens its presence in the building and infrastructure sectors, shortening the supply chain and reinforcing the Made in France concept, essential for ensuring success in the transalpine market.
The operation was conducted in partnership with Finest S.p.A., a financial institution that supports companies in the North-East of Italy in their internationalisation projects in neighbouring countries, not only with financing but also by becoming a minor shareholder.
“This investment ,” says Alessandro Mezzalira, CEO of FITT, ” will allow the Group to expand its production capacity and product range for the French and Northern European markets, further reinforcing its leadership position in the sector. Having Finest as a financing partner is a guarantee of stability in supporting future development plans.”