Salp strengthened, Invitalia and Friulia exit

Salp international, the holding company of the Frata family, has completed the repurchase of the 30 per cent shares held by Invitalia and the 30 per cent in the hands of the financial company Friulia.

For the historic Friuli-based company, based in Bagnaria Arsa (Udine) and active for over 60 years in the infrastructure and energy network sector, this concludes the investment cycle realised through the Fondo Salvaguardia Imprese, promoted by Mimit and managed by Invitalia, and the repurchase of the shares previously held by the National Development Agency. At the same time, the participation of the Friuli-Venezia Giulia regional finance company, which exited from the share capital after having contributed to the company's stabilisation and development, also came to an end.

The transaction," reads a note, "marks the completion of an articulated path of industrial and financial strengthening initiated during a phase of business discontinuity and represents a landmark intervention in the panorama of public policies to support business continuity and employment. At the end of the intervention, Salp presents itself as a significantly strengthened reality in terms of capital and industry compared to the time of Invitalia's entry into the capital, which took place in 2022, at the end of a path of business continuity that began back in 2016. Over this period of time, also marked by a macroeconomic context that has changed profoundly as a result of the European energy crisis, the workforce has grown from around 150 employees (at the time of the institutional partners' entry) to an average of over 350, and has now reached around 400 people currently employed on a dozen active construction sites in Italia. At the same time, turnover has increased significantly, rising from around EUR 30 million to EUR 90 million in recent years. The order book has also reached a significant level, ensuring solid operational visibility and prospects for continuity in the medium term, also thanks to the acquisition of strategic orders in the energy infrastructure sector.

In this context, the Shareholders' Meeting proceeded to reconstitute the corporate bodies following the departure of the directors representing the institutional shareholders. Ugo Frata was reconfirmed as president and Fabrizio D'Alessio as managing director.

With the completion of the public investment cycle, Salp is now embarking on a new phase of its industrial path, oriented towards strengthening its competitiveness and development in foreign markets, particularly in the large infrastructure and energy network sectors, in a favourable market environment, also in light of the prospects related to infrastructure investments and the system effects generated by the NRP, in Italia and in Europe.