Within a development project started in 2019 through the partnership with B4 Investimenti, with the completion of this double acquisition, Lazzerini Group acquires a direct productive site and consolidate its positioning in a particularly strategic market such as the UK, further integrating its products portfolio in the special vehicles segment.
Lazzerini Group, few days ago, has completed the acquisition of the 100% of Phoenix Seating Limited ("Phoenix") and Vehicle Occupant Safety Center Limited ("VOSC").
Lazzerini Group, after having confirmed over the last two years, despite the contingent situation related to the pandemic, a positive constant growth trend, continues its consolidation path in a sector which, also due to the remarkable socio-political attention to “sustainable mobility” and “ecological transition”, should benefit in the near future from a further important development boost.
In this context, Lazzerini Group – which already boasts a direct presence both in the United States (through Lazzerini Corporation) and in Australia (through Styleride PTY Ltd., a leading player in the domestic market) – in recent months has started the analysis of several investment opportunities essentially functional to consolidate its presence in specific geographic markets and/or product segments considered strategically complementary and, among these, the UK market (already one of the main geographic reference markets of the group) and the segment of passenger seats for special vehicles.
In this view, Lazzerini Group has acquired the entire share capital of Phoenix, an English player active in the segment of seats (and related accessories) for local transport, school transport and special vehicles (essentially so-called "blue lamp" vehicles, vehicles for the disabled and military vehicles) and VOSC, a British company, with the same shareholding structure of Phoenix, operating in certification and testing services for the transportation sector.
The integration of Phoenix and VOSC – which is part of the development project launched in 2019 through the partnership with B4 Investimenti SGR S.p.A. – lead Lazzerini Group to 2021 pro-forma revenues exceeding Euro 30 million (+ 50% approximately compared to 2018) with an EBITDA margin around 15% (substantially doubled compared to 2018), with sales recorded in five continents and a direct production presence in Italy, United Kingdom, United States and Australia.
The integration of Phoenix and VOSC into Lazzerini Group essentially aims to consolidate and accelerate their growth paths, leveraging on the production, operating and commercial synergies arising from the opportunity to operate as a sole integrated group.
Innocenzo Salvatore Carbone – President, CEO and shareholder of Lazzerini S.r.l. – highlights: "The partnership with Phoenix and VOSC represents a further important step-up in the growth and development path of the Group, allowing us, on one hand, to acquire a direct production site in a particularly strategic market such as the UK and, on the other, to consolidate our positioning in the premium segment of special vehicles".
Fabrizio Baroni – Founding and Managing Partner of B4 Investimenti SGR S.p.A. – claims: "This acquisition represents an important milestone in the value creation path of Lazzerini Group which – after being able to confirm, even in the last two years, despite the contingent situation related to the pandemic, the growth trend that has been historically characterizing it – through the integration of Phoenix and VOSC strengthens its international positioning within the consolidation strategy as aggregation platform in its reference segment".
Adrian Melvyn Melia – founder of Phoenix and VOSC – highlights: “With both companies now joining the Lazzerini family, it provides a solid strategic platform for growth from a wider range of market sectors and an exciting opportunity for future developments by the shared visions of the Lazzerini Group”.