Legor, the Italian leader in the production of precious alloys for the jewellery industry and present in the market of galvanic solutions for fashion accessories, and Valmet, the leader of a network of companies that includes Valmet Plating, Valmet Refining and Valmet Ecology, and operates in the fashion industry with products and services of excellence for the processing of accessories, as well as in the recovery of precious metals and sustainable waste management, have concluded a capital agreement that provides for the entry of Valmet into the Legor Group and the reinvestment of Francesco Pallotti in a minority stake in the capital of Valmet S p.A.
The nascent Group, with a total turnover in 2023 of more than 170 million euros, has shown constant growth by differentiating its business areas and intends to achieve a vertical integration of the business model that responds more effectively to the needs of its customers, fostering a broad convergence towards advanced sustainability practices, while maintaining the identity and autonomy of each of the constituent entities. This agreement is intended to strengthen the position of Legor and Valmet as key players in the high jewellery and fashion accessories market, constituting one of the world's most important players, providing greater strength for new investments and strengthening existing structures.
Massimo Poliero (President and CEO Legor) emphasised: 'The partnership between Legor and Valmet was made possible first and foremost by a deep communion of values that binds our families. This sharing has been a key catalyst for the further development of the collaboration between the companies. The partnership with Valmet is not limited to a commercial transaction, but represents a commitment to create a reliable and strong player that can be a stable reference point for the world of luxury and jewellery, a partner with whom we can jointly develop increasingly sustainability-oriented projects. the new Group is already investing in developing innovative and responsible solutions for our customers."
Francesco Pallotti (CEO Valmet) comments: 'In an increasingly dynamic and evolving market, the collaboration between Legor and Valmet represents more than just a merger; it is a symbol of family unity and shared ethics. Our roots in integrity, sustainability and responsibility are not only a solid foundation on which to build, but also a beacon that lights our way into the future. By pooling our skills, resources and know-how, we are ready to explore new horizons, charting parallel paths with common goals, strengthening our position in the industry, and thus writing a new chapter, to better serve our customers and advance our vision."
With four production sites and four chemical laboratories, Valmet currently plays a leading role in the fashion and fashion accessory industry, complementing its activities with a focus on sustainability. For its part, Legor has a well-established presence in the Italian and international markets, thanks to a network of more than ten branches in the major jewellery and fashion accessory producing countries, offering products and services based on the metallurgical and chemical expertise developed over more than 40 years of experience in the sector. The partnership between Legor and Valmet aims to join forces to promote environmental responsibility, energy efficiency and sustainable resource management.
The transaction has been coordinated for Legor Group by Carmen Poliero CEO and Corso Balboni DG assisted by Francesco Ferragina and Matteo Mancaruso of Kon Group as financial advisor, and by the law firm DFA of Vicenza for legal profiles; Valmet has been assisted by the law firm Battisti & Bellini of Florence and by the law firm Vignoli of Florence for tax profiles; the banks that were partners in the transaction were BNL BNP Paribas and UniCredit, assisted by the law firm Grimaldi Alliance with a multidisciplinary team led by Avv. Angelo Alfonso Speranza and Marco Franzini, and granted a loan with sustainability objectives consistent with Legor Group's transition strategies.
