Star Capital sold its majority stake of GLM to Remus Innovation

GLM S.p.A., based in Castellalto, Italy, is a world leader in the production and distribution of metal components and accessories for the automotive sector, in particular, components for exhaust systems. Manufacturing activities are carried out in three Italian plants located in Castellalto, Villa Zaccheo, and San Giovanni Teatino, in addition to plants located in Mexico and Serbia. The Group, operating with world’s leading OEMs, has put in a steady growth trend in recent years, reaching in 2023 consolidated revenues of about EUR 88 million (about EUR 79 million in 2022), consolidated EBITDA of about EUR 9.3 million and with about 680 employees. By 2024, the Group expects to achieve total revenues of about EUR 100 million.

Star Capital SGR is an independent company that has managed closed-end private equity funds since November 2002. It currently manages closed private equity funds, mostly subscribed by foreign institutional investors and with the focus on small to medium-sized Italian companies. Star Capital specialises in supporting the international growth process of companies in its portfolio.
REMUS Holding GmbH is a leading manufacturer of exhaust systems for the automotive and motorcycle industry. With state-of-the-art production facilities and a strong R&D department, REMUS offers innovative solutions and high-quality products for OEMs worldwide. In 2023, REMUS achieved sales of EUR 236.7 million, almost double the 2020 figure, confirming the Group’s strong economic development.

Peppino Barlafante, founding partner of GLM S.p.A., sold part of his shares held in GLM S.p.A., retaining a minority interest and continuing to be present in the Group’s management, with an operational role. Mr. Mauro Casales will retain the position as Group CEO. With this transaction, Remus Holding GmbH acquired a stake of broad control in GLM S.p.A.

The selling shareholders and GLM S.p.A. were assisted in the transaction by EQUITA Mid Cap Advisory, part of EQUITA Group, the exclusive member for Italy of Clairfield International, Studio D’Incecco, Chartered Accountants in Pescara, and Studio Giliberti Triscornia e Associati, as legal advisors. Remus Holding GmbH was assisted by Deloitte Financial Advisory GmbH, the firm Gecić Law, the firm Von Wobeser y Sierra, S.C, the firm Fellner Wratzfeld & Partner Rechtsanwälte GmbH and the firm PedersoliGattai.