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Private Equity firm acquires Almac

Wisequity V fund has acquired a majority stake in Italian tracked carrier and aerial lift manufacturer Almac. Co founder Andrea Artoni will maintain a stake in the business and will take over as chief executive - he is currently general manager. Co founder and chief executive Pietro Agosta Del Forte will sell his equity and exit the business.
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Andrea Artoni

Almac - which also uses the Alma Crawler branding - revenues for 2022 are forecast to be in the region of €28 million, a strong increase on last year. The future strategic plan, formulated by the management team with Wise Equity, is to strengthen the company’s internal structures and expand the product range, with a focus on the rental market worldwide, while also "seeking opportunities for potential synergic acquisitions".

Alamac was established in 2013 by Andrea Artoni and Pietro Agosta Del Forte and has made a name for itself with dynamic levelling on scissor lifts launched the following year and tracked transporters. It has now extended the Bi-Levelling technology to boom lifts with numerous versions in between. In addition to the main company Almac has two wholly owned subsidiaries in Australia and the UK. See: New compact crawler
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An Almac scissor lift levelling mechanism

Artoni said: "Thanks to a deep knowledge of the market, a growth strategy focused on product quality and innovation, and a strong, young team with exceptional qualities, our group has achieved important results in just a few years. Now it is the time to consolidate what has been achieved so far, strengthen the management structure and accelerate growth also by evaluating opportunities for future acquisitions. For this reason, we have joined forces with Wise Equity, a partner that has already gone through many successful acquisition projects in adjacent sectors, enabling their portfolio companies to achieve important growth targets”.
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A recent boom lift launch

Luigi Vagnozzi a partner at Wise Equity who worked on the acquisition with investment manager Ilaria Montefusco added: "We are thrilled to begin this journey with Almac, an example of an Italian 'pocket sized' multinational company that, by focusing on innovation, has been able to establish itself in just a few years as one of the most interesting players in a global market that sees the presence of major groups. Almac and its management team are the ideal platform to start a consolidation project in this sector.”

The investment in Almac is the sixth transaction by Milan based Wise Equity’s €260 million Wisequity V fund.