SIME, based in Milan, produces die-cast high-precision parts and components mainly for the automotive industry – car manufacturers or component producers. 2003 sales were about €70 million.
FIM, based in Treviso, supplies foundry products to a vast range of industries, mainly in Europe (70% of its export sales). Sales were about €30 million. FIM is financed by Banca Arner, its private equity owner.
By selling control of SIME to FIM, its owner-manager reduced his financial exposure to the company, while remaining in charge of the new, larger group.
The owner of SIME retained Cross Border to achieve his double aim while retaining his management role. Cross Border conducted an international controlled auction with strategic buyers, until the ideal investor was selected.