The Sangalli Group has announced the signing of a strategic transaction with Glasswall Group, securing equity investments into the company and ongoing financial support. Under the signed agreements, the parties will join their resources to strengthen the financial position of Sangalli Group, expand their presence in the European market and invest into the development and production of the value added glass products.
According to the Sangalli Group release, the company intends to use the proceeds from the transaction over the next two years to complete a comprehensive financial and business restructuring that began this year with the aim of creating a solid financial and competitive operating basis that would allow the company to withstand any potential market downturns.
In addition to financial support, Glasswall Group brings its expertise in marketing and distribution of glass products.
“Over the last decade, Sangalli Group has been building up production capacity and sophistication together with our market share,” said Giorgio Sangalli. “Partnership with Glasswall Group strengthens and consolidates our current financial and operational position and creates a solid basis for our future growth.”