Insight

Since being acquired in March last year, Mi.Me.Af. has gone through a restructuring and investment programme to ensure it continues to be recognised for its high-quality products, as well as its ability to customise products for a variety of industries. 

An Italian manufacturer specialised in the production of specially designed fasteners, Mi.Me.Af. SpA was acquired by Bontempi Vibo as part of its industrial growth strategy – with the company bringing a new range of products, capabilities and market opportunities to Bontempi Vibo. “When we bought Mi.Me.Af. we decided that some restructuring was necessary in order to rebuild some of the internal organisation – when it came to the sales, accounting and quality departments,” explains Raoul Bontempi, CEO at Bontempi Vibo and president of Mi.Me.Af. “As part of this process we also looked to invest in the renewal of production machinery to help modernise the processes and make them more efficient.”

Through both of these steps the production cost structure of Mi.Me.Af. has been streamlined and means the business is ran in a similar way to Bontempi. “When it comes to specialised products you still need to be competitive within the market, which is why we have worked on optimising the production processes at Mi.Me.Af. to make them more competitive,” points out Raoul. “Through the steps we have taken we have put the company in a better position to grow in the future and we are already seeing the positive results of this work.”

Another key factor in Bontempi buying Mi.Me.Af. was the fact the Italian SME focuses on a completely different range of products and markets than Bontempi. “Mi.Me.Af. produces a variety of special screws and has a lot of experience and knowledge within this area,” explains Raoul. “To add to this, there are also a lot of synergies between the two companies that will also provide a lot of opportunities. For instance, at Bontempi we can use our experience to help develop Mi.Me.Af. with its processes and structure, 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. There are a lot of different areas we can work on together and both companies can benefit from this acquisition, as we are already starting to experience.”  

Raoul continues: “The two businesses are already working closely together in order to optimise a variety of different areas, including from a technical aspect. Both technical departments are working very closely and of course we are sharing the production knowledge of both companies to help improve both production processes. By doing this we can reduce production costs and guarantee that both businesses are competitive from a price point of view.”

Whilst Mi.Me.Af. is well known within the automotive market, the company is also looking to develop in other areas where it identifies opportunities. “Automotive is without doubt our focus, but we also want to get involved in other sectors,” mentions Raoul. “We are also looking to grow our presence in the distribution sector and use the connection with Bontempi Vibo to offer customers special parts.” 

Mi.Me.Af. can also work closely with customers on solutions, which is proving popular within the current market. “Customers are looking for new solutions that guarantee the same quality levels but maybe at a lower price or an improved production capacity, which is an area we are able to support them,” points out Raoul. “Over the last 18 months we have seen a lot of positives with the work we are doing with Mi.Me.Af. and we are very confident for the future and how much more we can do.”

Raoul Bontempi is also clear that Mi.Me.Af. will not be the only acquisition Bontempi Group makes as part of its industrial growth strategy. “Our plan is to achieve €80 million in revenue by 2025, which will involve targeting not only the Italian but also the European market. To do this we will continue to look at acquiring solid and innovative companies, such as Mi.Me.Af., especially where we see a good fit with Bontempi Vibo.”