Tecno Acquires a Majority take in Zanotta
Tecno, the historic brand founded in the 1950s by the Borsani brothers and led by Giuliano Mosconi since 2010, acquires a majority stake in Zanotta, one of Italian design’s most well-loved and important companies since the 1950s.
Tecno and Zanotta have two parallel stories, and they have decided to share their uniqueness, reputation and credibility to boost growth in the main international markets, aiming for a comprehensive offer for the contract and office system, the reference area of Tecno, as well as for the home and hospitality area, a sector in which Zanotta has always excelled.
Tecno and Zanotta, two companies that in their respective journeys have given meaning to the Italian design industry, with a highly anticipatory approach to the market in terms of innovation, both in terms of aesthetic and functional research and in attention to representing the values of Italian design and know-how.
Tecno has blended design and innovation from the beginning (1953), involving all stages of design, from the product to the installation. Tecno’s distinguishing features are its high-quality workmanship and continuous technological innovation, which in 2016 led to the creation of io.T “The intelligence of Tecno”, the first intelligent system of connected and interconnected furnishings.
From the beginning (1954), Zanotta made a strategic foundation for its development on creativity, research and innovation in design, on product quality, functionality, comfort and life, making this its most recognisable element, and on the concept that profit and culture could be made simultaneously. More than 298 Zanotta products, the result of the collaboration of 128 designers, are now present in 50 museums worldwide.
Today Tecno and Zanotta are undertaking a common project that permits improved synergies and commercial possibilities at an international level and will be managed with the most wide-ranging respect for the particular characters and identities of the two brands.
Tecno has been experiencing constant growth in the last five years and ends 2016 with 32 million euros, 30% growth with respect to 2015. The Zanotta operation launches a new group with a revenue of 60 million euros in 2017 and future growth forecast of 20% a year.
“I’m pleased with this operation,” affirms Giuliano Mosconi, Tecno Chairman and CEO, “which boosts development potential in the main global markets and sees our presence both reinforced in the office furniture sector and renewed in the home and hospitality segment in general.”
Eleonora Zanotta, Chair of Zanotta, confirms this and continues: “I am certain that the contribution of our expertise and product quality will be a new element of overall growth and that this synergy can represent an appropriate response to the expectations of an increasingly competitive market.”
The advisors who accompanied the initiative were lawyer Paolo Tanoni, NASaW Avvocati, Avvocati Associati and Berg Advisors, who assisted Tecno, and PiGreco Corporate Finance, the firm Giornelli Mercati and the Patron law firm, who assisted the selling shareholders of Zanotta.