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The Flexitallic Group Euroguarco Press Release

20th December 2018


The Flexitallic Group and Euroguarco S.p.A. announced today that they entered into an agreement regulating a business combination between the gasket division of Euroguarco S.p.A. and the Italian business of The Flexitallic Group. The business combination will be implemented through the contribution of the gasket division of Euroguarco S.p.A. into an Italian NewCo, which will be controlled by Novus Finance Ltd (a company belonging to The Flexitallic Group) and participated by Euroguarco S.p.A.

Euroguarco and Flexitallic have been commercial partners for many years. For Euroguarco, this transaction is an opportunity to enhance the synergies with Flexitallic to focus on the metallic and semi-metallic gasket markets in Italy and the surrounding region. For The Flexitallic Group, this transaction is part of its strategy to add manufacturing capability in key markets to provide enhanced service and improved delivery times.

Massimiliano Ghirlanda – Managing Director of Euroguarco S.p.A. – “The transaction provides the conditions for the Italian Newco to play a primary role in the Italian market of industrial gaskets and is therefore consistent with the company strategy of synergistic growth.”

Jon Stokes, CEO and President of The Flexitallic Group, commented that “Euroguarco has been a trusted partner of Flexitallic for many years. We are excited to work together to invest in greater capability and grow our business in Italy and surrounding regions.”

Legance – Avvocati Associati acted as legal advisor to The Flexitallic Group whilst LMCR – Studio Legale Associato acted as legal advisor to Euroguarco S.p.A.