(Alliance News) - Mittel Spa on Wednesday let it know that it intends to continue its diversification of investments in Italian companies of excellence, entering the sector of production and distribution of PVC windows and doors with

high quality technical performance through the acquisition of a stake in the company Gruppo Finestre Srl.

The company was founded in 2005 through Stefano Zanasi's acquisition of the Italian window production division of a multinational company and the subsequent aggregation with the Fersina brand.

The company specializes in the production of PVC windows and doors, aluminum shutters, and security/ interior doors.

The acquisition transaction involved the purchase, through equity, of 100 percent of Gruppo Finestre for a price of EUR13.2 million by the vehicle Italian Windows Group Srl, established by the Mittel Group as the holding company of the new window and door investment sector.

Stefano Zanasi invested in 30 percent of IWG's capital - the remaining 70 percent of which is then held by Mittel - sealing a strategic partnership with the entrepreneur aimed at growth.

"Mittel's entry into the capital is aimed at supporting the growth process of Gruppo Finestre over a long-term time horizon. The premise of the development is based on the expansion of the commercial offer and product distribution network on the various sales channels to further enhance the brand in the domestic market," the company explained in a note.

"With this transaction Mittel has further expanded its portfolio of holdings in diversified sectors, investing in Italian SMEs of excellence operating in global markets."

Mittel trades in the green by 0.7 percent at EUR1.40 per share.

By Claudia Cavaliere, Alliance News reporter

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