MILAN — MinervaHub has a new majority shareholder.
Investment holding San Quirico SpA has acquired 75 percent stake of MinervaHub, which was established last year to protect a number of Italian manufacturers in the country’s supply chain that help create garments and accessories.
The remaining 25 percent stake remains in the hands of one of the sellers, Xenon Private Equity, with other coinvestors that include Matteo Marzotto.
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The Italian entrepreneur maintains his role as president of MinervaHub, which reports sales of more than 170 million euros, has a portfolio of more than 1,000 clients, of which are 20 among the main luxury brands, and 700-plus employees.
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Matteo Marzotto touted the stance of an investor such as San Quirico, which has “understood the potential of MinervaHub as a primary, unique supplier of high-end accessories, with its formidable artisanal and industrial skills, to transform the creative ideas of the most celebrated brands in the world in products of absolute excellence in the respect of the most challenging ESG standards.”
He continued by expressing his confidence that San Quirico’s “vision and expertise” will be fundamental “in the growth and creation of future value.”
MinervaHub was controlled by private equity fund Xenon VII SCA SICAV — RAIF, managed by partners Franco Prestigiacomo and Gianfranco Piras.
Minerva Hub stems from the fusion of XPP Seven and Ambria Holding, which Marzotto formed in 2021, taking majority stakes in Italian companies Zeta Catene and Galvanica Formelli, both located in the Arezzo, Tuscany area. Zeta Catene produces more than 2,000 types of chains of different shapes, sizes and materials, such as brass and silver, as accessories for bags and shoes. Galvanica Formelli offers metal details, components and galvanic treatments for fashion accessories.
MinervaHub has grown to include other companies including Jato 1991, specialized in delicate and sophisticated hand embroideries, Conceria Zuma Pelli Pregiate, and Quake to name a few, which operate in the fashion-luxury market, in design, sportswear, cosmetics, jewelry and automotive.
This operation will allow MinervaHub’s accelerated development thanks to financial, commercial and manufacturing synergies.
The plan is to continue to grow MinervaHub through additional mergers and acquisitions strengthening its production capacity and expand its product portfolio.
Franco Prestigiacomo, chief executive officer of Xenon Private Equity, who has reinvested in MinervaHub with Marzotto, said the new partner will be decisive to help MinervaHub reach its goals. “We continue to strongly believe in the further growth of MinervaHub,” being actively committed and contributing “mainly in the area of M&A,” he said.