Sep 16, 2023
Vittorio Calissi, CEO of Unigasket Group, Don Malizia of MTO Hose Solutions Inc., and Simone Giovannelli, PFH Palladio Holding.
Villongo, Italy-based Unigasket Group has acquired the majority of Newark, Del.-based PTFE tube supplier MTO Hose Solutions Inc. to strengthen its presence in North America.
"The acquisition of MTO … represents a further step in the strategy of expansion on international markets and diversification in particularly attractive sectors," a news release by Unigasket said.
"We are honored to welcome a reality like MTO Hose Solutions into our group. It is a company of extraordinary quality in terms of the range of products, the reference customers, the outlet sectors [and] for the strength of the management and the work team made up of highly qualified people," Vittorio Calissi, president of Unigasket Group, said in the release.
MTO Hose Solutions also has a branch in Texas and supplies to the medical, aerospace, automotive, semiconductor, pharmaceutical, chemical, oil and gas markets. The company had sales of about $10 million in 2022, the release said.
Unigasket, which produces industrial polytetrafluoroethylene tubes and hoses, gaskets and sealing, previously acquired Netherlands-based Polyfluor Plastics BV and Italy-based Allegri Cesare SpA in 2021.
The group plans to continue expanding — to support production capacity and improve efficiency for existing production lines — in 2023, the release said.
Since 2018 it has been 75 percent controlled by PFH Palladio Holding. The remaining 25 percent is held by Calissi, who also founded the company.
"We are very happy to have carried out this operation because we are convinced that the integration with an international group such as Unigasket will create the conditions for a further phase of growth of the company in our reference sectors," Don Malizia, Umberto Ferrari and Andrew Protti, current shareholders of MTO Hose Solutions Inc., said in a joint statement.
"The acquisition of MTO Hose Solutions represents a further important step in the implementation of the strategic plan of the Unigasket Group," Simone Giovannelli, senior partner of PFH Palladio Holding, said.
Unigasket's headquarters in Northern Italy features a 172,000-square-foot factory. It also has branches in Romania, Poland and the Netherlands with about 500 employees.
Its products are distributed through an international network of subsidiaries in the U.S., Hong Kong, India, Spain and the Netherlands.
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