Milan, 9 May 2023. Montefiore Investment, the reference fund for SMEs and Mid-Cap services companies, announces the acquisition of a majority stake in the Italian group EXA, a leader in project management in the luxury retail and hotel sectors. Alongside the founding managers, Montefiore is taking over from the Alcedo Sgr fund, which has been supporting the Group since 2016. This is Montefiore’s first transaction in Italy since the opening of its Milan office in September 2022 and the creation of a team of seven experts 100% dedicated to the local market.
Founded in 2005, EXA has progressively established itself in Italy and internationally as the leader in project management for luxury brands for all their real estate projects: flagship stores, hotels, offices and showrooms. With nearly 250 employees, the Group supports more than a hundred clients worldwide, particularly in Italy, France, the United Kingdom and the United States, and has offices on three continents.
The partnership concluded between Montefiore and the founders of EXA aims to implement an ambitious development plan and, in particular, to accelerate growth outside Italy, driven by the factors that have made the Group successful in its domestic market: impeccable quality of execution, respect for the constraints of its customers, “made in Italy” know-how and taste, and a unique ability to tailor its products to the needs of its customers.
Giuseppe Polvani, Co-Founder and CEO of EXA, comments: “We are grateful to Alcedo for their support over the last few years, and look forward to starting this new chapter with Montefiore. We have been impressed by the Montefiore team’s ability to understand our issues and propose pragmatic solutions. We are confident that our partnership will accelerate the profitable growth of our Group.”
Partner at Montefiore Investment and Co-Head Italy, added: “We are delighted to form this partnership with the founders of EXA in whom we have found talented and committed entrepreneurs with a strong winning spirit. This transaction is fully in line with Montefiore’s DNA: sector expertise, entrepreneurial spirit, international development and investment in human capital.”