Insight

In March Bontempi Vibo announced the 100% acquisition of Mi.Me.Af. – an Italian manufacturer specialised in the production of special design fasteners – as part of the company’s industrial growth strategy.

Mi.Me.Af. SpA is recognised for its high-quality and great ability to customise its products in the most varied industries, from automotive to household appliances, as well as the locks and compressors sector. Founded in 1952 by Angelo Panzeri, the company has continuously expanded over the years by meeting the needs of its customers regarding new product requests, constant quality improvements and increased quantity demands.  

 The acquisition of Mi.Me.Af. brings a new range of products, capabilities and market opportunities to the Bontempi Group. “We are very pleased to have added Mi.Me.Af. to the Bontempi family and see a lot of synergies and opportunities to grow for both companies in the future,” comments Raoul Bontempi, CEO at Bontempi Vibo SpA. “At Bontempi we have set ourselves the goal of achieving €80 million revenue by 2025 and Mi.Me.Af. will be a key part in achieving this.”

A key factor in Bontempi acquiring Mi.Me.Af. was the fact the Italian SME focuses on a completely different range of products and market than Bontempi. “Mi.Me.Af. produces a variety of special screws and has a lot of experience and knowledge within this area, which was very appealing to us at Bontempi,” explains Raoul. “To add to this, there are also a lot of synergies between the two companies that will provide a host of opportunities. For instance, at Bontempi we can use our experience to help develop Mi.Me.Af. regarding distribution, logistics, etc, as well as offer the strength and financial capacity needed in order to support the company and enable organic growth. At the same time Mi.Me.Af. can open Bontempi up to new markets and also new quality and production expertise, such as IATF 16949 certification for the automotive industry – which Mi.Me.Af. has achieved. There are a lot of different areas we can work on together and both companies can benefit from this acquisition.” 

For the time being Mi.Me.Af. will continue to be a standalone company within the Bontempi family, but Bontempi is already investing within the business to help it develop. “We believe in the products, the markets, and also the people that are currently working for Mi.Me.Af., which is why we are investing in the organisation of the company, as well as within its quality procedures, the machinery and plant itself,” points out Raoul. “We are already seeing an improvement within Mi.Me.Af. from our initial investment and we have a lot of other things planned for the future. We have just started our journey and we are looking forward to how we can work together in the future.”

Raoul Bontempi is clear that Mi.Me.Af. will not be the only acquisition Bontempi makes as part of its industrial growth strategy. “Our plan to achieve €80 million in revenue by 2025, which will involve targeting not only the Italian but also the European market, will be developed through selected acquisitions of solid and innovative companies, which will enable Bontempi Group to expand its production range – reaching new strategic sectors.”

Speaking about the strategy, Raoul Bontempi explained: “We want to get out of the industrial ‘dwarfism’ that has characterised Italian SMEs and prepare the company to be increasingly a protagonist in the challenges that we will face in the fastener sector. The previous acquisition of FRAM Srl in 2019 and now the addition of Mi.Me.Af. underlines our commitment.”