An Italian mutual funds investment firm acquired a majority stake in Italian lubricants and greases producer Pakelo Motor Oil, which said the deal will help enable it to build its international distribution network. Terms were not disclosed.
Alkemia SGR, with a joint investment by Italian bank Banco Ifis, indirectly acquired a majority stake in Pakelo, according to its latest company magazine, published July 24. Alkemia took over the shares of Alberto, Aldo and Rino Polacco, who simultaneously reinvested a significant minority share in the company. CEO and Chairman of the Board Alberto Polacco will lead the company and ensure the continuity of its management by holding the same role.
“The partnership we have established will allow Pakelo to increase the brand’s popularity and the market by continuing the development of its worldwide distribution network, ensuring the company an increasingly global future,” Pakelo CEO Alberto Polacco said in the announcement.
Pakelo specializes in production of lubricants and greases for use in the automotive, heavy- duty, agricultural machinery, earthmoving, industry and boating sectors.
The company said it is close to inaugurating a 2,500-square-meter facility that will host its production department. Among other things, it will promote rationalization of spaces and production processes, with particular attention to water consumption, reduction of pollutant emissions per unit and feature a photovoltaic system that will provide energy to the building. The plant will also host a new research center and laboratory for the analysis of lubricants.
Founded in 1930 by Italo Rino Polacco, the company is based in the province of Verona. Pakelo operates in a factory of about 19,000 square meters with over 70 employees, and annually produces more than 10,000 tons of lubricants and special greases, exported to more than 40 countries worldwide via a network of partners.
Established in 2004, Alkemia promotes, establishes and manages closed-end mutual investment funds. A closed-end fund raises capital by issuing a fixed number of shares at its inception, and then invests the capital in financial assets, including stocks and bonds.