December 19, 2019
Consumer, Retail, E-commerce and Leisure
GCA Altium advises Ludovico Martelli on a minority sale to Nuo Capital
GCA Altium acted as financial advisor to the shareholders of Ludovico Martelli Srl, a leading Tuscan company in the Italian shaving market with growing international presence, on a minority sale to Nuo Capital, an investment holding with Asian roots based in Milan that is dedicated to long-term investments in Italian family businesses.
Founded in 1908 in Florence by Ludovico Martelli, the company has been a landmark in the wet shaving market for three generations. Since then, Ludovico Martelli has become a leader in the personal care market as a result of the growing awareness of its leading brands – Proraso, the Made in Italy shaving foam and cream used by barbers all over the world, and Marvis, the luxury toothpaste that has conquered international markets, particularly China. In addition to Proraso and Marvis, the Group produces a broad product offering for body care including Kaloderma creams, Schultz organic chamomile shampoos, Oxy hair removal and bleaching creams, Sapone del Mugello soaps and bath foams and the newest arrival, Valobra, an iconic Italian brand of fine soap bars.
Today Ludovico Martelli, based in Fiesole, employs approximately 120 people and operates two production plants in Italy. The Group markets its products in more than 60 countries, generating about 30% of its revenue abroad, mainly due to the strong positioning of Marvis in China as well as the continuous growth of Proraso in North America, Germany, France and Spain.
The choice of Nuo as a partner for growth reflects its deep-rooted presence in the Asian market and its long-term investment horizon, consistent with the commercial strategies of the Martelli family and the management team. Nuo’s investment will allow Ludovico Martelli to accelerate its growth through the international expansion of its main brands, leveraging Nuo’s network and distribution expertise in the Asian market as well as its financial resources to enable add-on acquisitions of high potential personal care brands.
Giovanni Galeotti, CEO of Ludovico Martelli, said: “Nuo Capital will accelerate our international development thorough organic growth boosted by marketing investments and acquisitions of selected targets. We are excited to start this new adventure. We would like to thank the GCA Altium team for the great support and trusted advice to achieve our goals.”
Carlo Dawan, Managing Director of GCA Altium, added: “We are proud to have supported a unique Made in Italy entrepreneurial business in the personal care market. This remarkable deal underlines our strength in the consumer segment.”