German fund acquires Italian tube maker

Italy’s Profiltubi has sold a majority stake to German investment fund Auctus Capital Partners. The re-roller was previously controlled by the Alfieri family, which will remain a minority shareholder, Kallanish notes.

Together with Auctus Capital Partners, Profiltubi aims to widen its product range through new investments, improve the efficiency of its existing equipment and strengthen its presence in Europe. The new owners have appointed Giorgio Frigerio as managing director, Profiltubi says in a note seen by Kallanish.

Profiltubi, located in Reggiolo, northern Italy, manufactures HF-welded tube in a wide range of shapes and sizes. The company has extended its product range through its Steel Service division, which has distributed beams and merchant bar in Europe since 1994. In 2019 the company generated over €100 million ($115m) in turnover.