Virgo Fund buys 34% of Pick Up Service Srl
Cash investment of over 5 million and 20% growth in turnover. The acquisition, managed by the prestigious Tax Lex Consulting firm in Rome, dott. Alessandro Vox and lawyer Marco Callori, foresees the participation of Virgo Holding SpA in Pick Up Service srl as well as investments aimed at the development of strategic plants and services.
The operation is rooted in the collaborative relationship between Rimeco SA, promoter of the fund, and Marco Calabresepresident of Pick Up, but above all lays the foundations for a synergistic strengthening of the companies which, by putting their respective skills into a system, will be able to establish themselves in strategic business areas, also strengthening the asset of Virgo Fund in two rapidly evolving sectors such as those of Cosmetics and Food.
Pick Up Service, founded in 2014, is a company specialized in the filling, packaging, assembly and logistics of products in the food, cosmetic, pharmaceutical and personal care and hygiene sectors. It is structured in three divisions, a cosmetic of 7,000 m2, a food area of 6,000 m2 and a logistics area of 40,000 m2.
The deep knowledge of company processes allows us to operate in various sectors, also thanks to the workforce available, highly specialized, guaranteeing customers the best standards in terms of quality, flexibility, reliability and care in manufacturing, having suitable spaces, means and equipment.
Being a very dynamic and rapidly growing company, it is strategically focused on three fundamental factors: operational and commercial excellence, advanced technological innovation and attention to human resources. It offers services to the most exclusive and internationally known brands: the agreement also provides for investments with the aim of increasing the loyalty of already satisfied customers. Pick Up Service with a double-digit growth trend, has revenues of over 13 million euros and employs around 200 direct and outsourced workers.
The synergy with Virgo Fund will lead, by virtue of the agreements made, to an immediate increase in Pick Up turnover of 20% in addition to the natural positive trend that the Brianza-based company has already been following for several years. The deal takes place entirely in cash with a value of 2 million euros to which the positive net financial position will be added. Additional 3 million in investments. Upon completion of the transaction, Virgo Fund will also invest in the “EAU DE MILANO” brand founded by Marco Calabrese and in the subsidiary in Dubai (UAE) thus sinking its interest also in the Middle Eastern market.
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