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€12m equity investment for Sira Group SpA Sira Group SpA, a manufacturer of radiators for heating based in Italy, has received €12m equity investment from Fondo Italiano di Investimento.Fondo Italiano will own a minority stake in the group, which was founded from the Gruppioni family in 1959. Today the company, employs approximately 800 people in its facilities in Italy, China, Romania and San Marino Republic, and has a turnover of €46m. The investment is expected to help Sira grow both organically, to increase its current capacity, and through acquisitions, to expand its product offerings and customer base.The company recently bought certain assets of Faral SpA, which manufactures radiators, and has already started talking to acquire a business active in the field of die-casting in aluminum. Fondo Italiano di Investimento in this acquisition was supported by MeA Consulting, a management consulting company based in Bologna. The team, led by Massimo Milan, partner of MeA Consulting, performed a business due diligence. MeA Consulting has worked with Fondo Italiano di Investimento since their birth, assisting them in the assessment of the attractiveness of a few potential deal targets.
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