Jack Technology acquires Comelz of Vigevano for 140 million
The SME specialises in the development and manufacture of automatic leather-cutting machines
Another ‘Made in Italy’ company, with its wealth of expertise, know-how and patents, is coming under Chinese control. A contract has been signed for the sale of Comelz, based in Vigevano in the province of Pavia, an SME specialising in the development and manufacture of automatic numerically controlled cutting machines and the associated software for leather. The seller is the Italian fund Renaissance Partners, whilst the buyer is Jack Technology, a Chinese multinational based in Taizhou, near Shanghai, which is listed on the stock exchange and has around 7,500 employees. Jack specialises in the production and development of sewing machines.
The value of the transaction is approximately 140 million euros, whilst Comelz’s turnover for 2024 stood at 53.6 million, compared with 81.4 million the previous year. Profit for 2024 fell to 6.7 million from 13.7 million in 2023. The company employs close to 190 staff.
In recent years, Jack Technology has acquired several Italian SMEs specialising in sewing, such as Maica, a leader in the automated production of shirts; Vibemac, which specialises in the automated production of jeans; and the German company Bullemer, a long-established leader in the cutting sector. The acquisition of Comelz marks the group’s entry into the leather sector. The Chinese group has recently announced a partnership with Siemens to implement industrial artificial intelligence, low-code software and humanoid robotics in next-generation textile machinery.
Comelz operates in Italia from two plants, both located in Vigevano. The first is the company’s headquarters, whilst the second belongs to Camoga, a company acquired in 2018 that specialises in the manufacture of shell-cracking machines. In the same year, Develer, a company specialising in IT solutions, software and hardware, was acquired: a move that enabled the company to bring in-house the development of artificial intelligence, CAD/CAM and cloud technologies applied to cutting machinery. In 2017, the Zorzolo family, founders of the historic Vigevano-based company, sold a majority stake to the NB Renaissance fund, which now forms part of the group.
