PRESS RELEASE
INTESA SANPAOLO SUPPORTS BADINOTTI GROUP
IN THE ACQUISITION OF
PACIFIC NETTING PRODUCTS IN THE US
· The transaction is part of the Badinotti Group's growth process in its target markets, particularly the strategic North American market.
· Giancarlo Badinotti, Chairman of the Board of Directors of the Badinotti Group, commented: "We renew our commitment to grow our divisions: aquaculture, fisheries, sports, safety & industrial into the new US market by providing our clients with our portfolio of services and products."
· Pieluigi Monceri, Regional Director Milan, Monza and Brianza Intesa Sanpaolo, also commented: "The acquisition – completed thanks to the joint work of the IMI - Corporate & Investment Banking and Banca dei Territori divisions – confirms our Group's support for companies of all sizes, including small and medium-sized businesses capable of seizing major development opportunities both in Italy and abroad."
Milan, 5 ottobre 2023 – Intesa Sanpaolo supported Badinotti Group, a global company focused on providing synthetic-fibre nets and integrated structures for aquaculture, fisheries, & sports, safety and industrial industry, with the acquisition of Pacific Netting Products (PNP), a company specializing in the sale of netting solutions and HDPE structures based in Seattle, USA.
The acquisition marks an important step in the Badinotti Group's growth process in target markets, particularly the strategic North American market, to become a multinational company with a strong local presence, able to provide highly customized solutions tailored to specific customer needs.
The Badinotti Group, founded in 1910 as a small shop in Milan and today operating with approximately 1,000 employees in Italy, Slovakia, Peru, Chile and Canada, aims to consolidate and strengthen its international presence by leading the aquaculture containment structure, fisheries & sports, safety and industrial industry towards an engineering-based approach, providing increasingly safe and high-tech solutions. Through the acquisition of PNP, the Badinotti Group aims to exploit design, commercial, and relationship synergies, while also enhancing product development and engineering to offer cutting-edge solutions.
For Intesa Sanpaolo, the transaction finalized by the Banca dei Territori Division, headed by Stefano Barrese, together with the Milan Monza Brianza Regional Head, was structured by the IMI - Corporate & Investment Banking Division, headed by Mauro Micillo, through the Corporate Finance BDT structure and with fundamental support from the New York Hub Branch. A synergistic model that testifies to the Bank's commitment to supporting the internationalization of small and medium-sized Italian companies – the driving force behind the country's economy.
Giancarlo Badinotti, Chairman of the Board of Directors of the Badinotti Group, commented: "We are pleased to announce the acquisition of PNP, with the support of Intesa Sanpaolo, as part of our global growth plan. This transaction strengthens our position in the North American market and reaffirms our commitment to taking the our core business to new heights by leveraging business and technology interactions to offer increasingly safe and state-of-the-art solutions."
Pierluigi Monceri, Regional Director Milan, Monza and Brianza Intesa Sanpaolo: "Supporting the Badinotti Group, an Italian company with a history of excellence, in this important phase of growth in a strategic, competitive market such as the US, is a renewal of Intesa Sanpaolo's commitment to redefining business strategies in terms of innovation, sustainability and internationalization. The acquisition of PNP – completed thanks to the joint work of the IMI - Corporate & Investment Banking and Banca dei Territori divisions – confirms our Group's support for companies of all sizes, including small and medium-sized businesses capable of seizing sustainable development opportunities both in Italy and abroad."
Media Relations
Intesa Sanpaolo
Corporate & Investment Banking and Governance Areas
stampa@intesasanpaolo.com
www.intesasanpaolo.com/it/news
Badinotti Group SpA
Viale Ortles, 5 – 20139 MILANO – ITALY
Email: info@badinotti.com
Intesa Sanpaolo is Italy’s leading banking group – serving families, businesses and the real economy – with a significant international presence. Intesa Sanpaolo’s distinctive business model makes it a European leader in Wealth Management, Protection & Advisory, highly focused on digital and fintech, in particular with Isybank, the Group’s digital bank. An efficient and resilient Bank, it benefits from its wholly-owned product factories in asset management and insurance. The Group’s strong ESG commitment includes providing €115 billion in impact lending by 2025 to communities and for the green transition, and €500 million in contributions to support people most in need, positioning Intesa Sanpaolo as a world leader in terms of social impact. Intesa Sanpaolo is committed to Net Zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios. An engaged patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Gallerie d’Italia, to host the bank's artistic heritage and as a venue for prestigious cultural projects.
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Last updated 5 October 2023 at 10:51
